HONG KONG, July 25 (UPI) -- In the area of advanced multirole fighters alone, the People's Republic of China imported 100 Su-30MKK/MK2s over the past eight years, whereas Taiwan did not purchase any new combat aircraft. Nor did it procure any surface warships or submarines, except for one retired Keelung Class DDG from the United States. Taiwan virtually wasted the whole of eight years in its military development.

Under this circumstance, quite a number of U.S. and Japanese military strategists find it hard to understand the statement by Taiwan's new president, Ma Ying-jeou, that there would be "no arms race" with China.

With respect to the current reality in the Taiwan Strait, the key problem lies not in whether Taiwan engages in an arms race, but that China's military buildup has developed to such an extent that China's neighbors -- including Japan, Russia and India -- have become increasingly worried.

Even if Taiwan abides by its earlier promise and increases its military spending to 3 percent of its total gross domestic product in the next four years, the most optimistic estimate is that Taiwan's total military spending each year will not be able to surpass $15 billion.

The military advantage that China already has achieved appears irreversible. Another factor that has to be taken into consideration is Taiwan's immense national debt. The outstanding debt of the central and local governments combined has grown to a stunning $134 billion, and inflation is also worsening on the island.