Putting aside price, I would be happy to see Rafales in the ROCAF - definite upgrade from F-16s. That said, investing in a major upgrade for the IDF would also be a good temporary solution, as far as the domestic economy is concerned.
This whole situation does go to show how the "status quo" is slowly being unraveled - people protested former President Chen's actions regarding Taiwan Independence fiercely, and in a sense that was legitimate, as far as "not changing the status quo" was concerned. Yet tilting the military balance significantly towards China is just as significant a change, but there's far less outrage.
I see signs that the US may be willing to sacrifice Taiwan for business interests, something that could possibly be observed by the willingness of the current administration to choose someone like Freeman for a post, who believed that TI was a ridiculous idea.
The military situation is interesting in that this strong affect on balance will certainly influence the likelihood of a shooting war...