A national security official from Taiwan said this week the government would seek to increase defense spending at least 2% every year. China said in March it would spend 7% more on its own military, already ranked the world’s third most powerful. Taiwan’s military ranks world No. China sailed an aircraft carrier around Taiwan at the beginning of 2017, a provocative gesture that raised the local defense ministry's alert. Aerospace and submarine projects are expected to lead homegrown military development under Tsai, whose term ends in 2020 but who could be reelected for another four years.

Source: Forbes November 02, 2017 06:00 UTC