TAIPEI (Reuters) -- Taiwan on Thursday proposed extra defense spending of 240 billion New Taiwan dollars ($8.69 billion) over the next five years, including on new missiles, as it warned of an urgent need to upgrade weapons in the face of a "severe threat" from China.
Taiwan President Tsai Ing-wen has made modernizing the armed forces -- well-armed but dwarfed by China's -- and increasing defense spending a priority, especially as Beijing ramps up its military and diplomatic pressure against the island it claims as "sacred" Chinese territory.
