Taiwan's Presidential election: Pro-sovereignty DPP's William Lai wins

<p>Taiwan's Presidential election was held over the weekend. William Lai, of the pro-sovereignty Democratic Progressive Party (DPP) has been elected President. The party has governed Taiwan for the past eight years. This will be its third consecutive presidential term.</p><ul><li>Lai won 40% of the vote</li><li>ahead of the main opposition Kuomintang (KMT) party's Hou Yu-ih (the KMT is friendlier with the mainland CCP) on 33%</li><li>the third candidate Ko Wen-je, from the Taiwan People's Party, scored just over a quarter of the vote</li></ul><p>Voters also chose legislature candidates, Seats won:</p><ul><li>Kuomintang (KMT) won 52</li><li>Democratic Progressive Party (DPP) won 51 seats, a net loss of 11 seats, dropping from 62</li><li>Taiwan People's Party (TPP) won 8</li><li>two independent legislators won seats, both of whom are ideologically most aligned with the KMT</li></ul><p>Thus:</p><ul><li>The DPP has lost its majority</li><li>The opposition KMT gained ground</li><li>No one party has enough seats to control Parliament, this would require 57 seats</li><li>Taiwan political pundits expect the most likely parliamentary outcome is for the KMT and TPP to hammer out a deal to govern</li></ul><p>***</p><p>On the mainland, the Chinese Communist Party is not happy with the result, of course. The Communist Party despises democracy but couches its disapproval in nationalist, populist terms:</p><ul><li>says "Taiwan is part of China"
</li><li>calls for "peaceful reunification" but refuses to rule out using force</li><li>characterised the democratic election in Taiwan as a choice between "war and peace"</li></ul><p>Taiwan had accused China of attempting to interfere with the election process. </p><p>President Lai says he favours more exchanges and dialogue with mainland China:</p><ul><li> said he would "maintain the cross-strait status quo", he said he is not seeking independence nor unification with China</li></ul><p>The US congratulated Lai on his win, with Secretary of State Antony Blinken also championing the island's "robust democratic system and electoral process".</p><p>In Europe, France said Taiwan is an important partner for Europe, and hopes links with it continue to strengthen. Called on respect for the status quo by all parties and hopes cross-strait dialogue returns.</p>

This article was written by Eamonn Sheridan at www.forexlive.com.