TAIPEI—Taiwan unveiled plans to spice up navy spending by its largest margin in 15 years in response to escalating tensions with China that come amid deteriorating ties between Beijing and Washington.
On Thursday, Taiwan’s cupboard proposed a record-setting baseline navy price range of $13.7 billion for subsequent yr. That might quantity to a rise of practically 13% over this yr’s protection price range—the biggest year-to-year soar since a minimum of 2007.
