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Taiwan puts $40 billion toward buying US weapons and building a defense dome (apnews.com)
submitted 11 months ago by to c/worldnews@lemmy.ml
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Currently, Taiwan has set an increase in its defense budget to 3.3% of its GDP for 2026, allocating $949.5 billion Taiwan dollars ($31.18 billion). U.S. President Donald Trump has demanded Taiwan raise its defense spending to as much as 10% of GDP, a proportion well above what the U.S. or any of its major allies spend.

Lai had previewed the announcement in an op-ed for The Washington Post on Wednesday, saying the special budget would be used to purchase arms from the U.S. He told reporters Wednesday, however, that the budget has nothing to do with the government’s tariff negotiations with the U.S.

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[–] 8 points 11 months ago*

You mean they imposed economic dictatorship where capitalist own businesses and decide how they operate in autocratic manner. Economic democracy would be literally the opposite of capitalism where you have publicly owned industry and worker cooperatives where workers are able to exercise democratic control.

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