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TAIPEI, Taiwan (AP) — A $8 billion defense package approved by the U.S. House of Representatives over the weekend will “strengthen the deterrence against authoritarianism in the West Pacific ally chain,” Taiwan’s President-elect Lai Ching-te said Tuesday, in a reference to key rival China.
Rising food prices around the world may finally be seeing a bottom this year.
It took months of delays and desperate pleas from Ukraine, but the US House of Representatives has finally passed a bill authorizing US$60 billion (£50 billion) worth of military aid to Ukraine.
This is CNBC's live blog tracking developments on the war in Ukraine. See below for the latest updates.
Taiwan's military said on Sunday it will discuss with the United States how to use funding for Taipei included in a $95 billion legislative package mostly providing assistance to Ukraine and Israel, as Chinese warplanes again got close to the island.
New high of $2.4 trillion is the ninth straight annual increase, suggesting the trend will continue, research institute says.
Global military spending reached a record high of $2.4 trillion in 2023 amid a "global deterioration in peace and security," the Stockholm International Peace Research Institute said Monday.