Taiwan’s president says defense budget will exceed 3% of GDP in the face of the rising threat from Beijing

Taiwanese President William Lai Ching-te said Thursday that the island's defense budget will exceed 3% of its economic output as it overhauls its military in the face of the rising threat from China.

Along with the latest equipment — much of it from the United States, the military is seeking funds to retain more service people with higher pay and to lengthen compulsory national service from four months to one year.

In a speech Thursday to the American Chamber of Commerce, Lai...