Word: taipei
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RESIGNED. Outgoing Taiwanese President LEE TENG-HUI, 77, as head of the Nationalist Party; after the stunning election defeat of the party's presidential candidate to opposition politician Chen Shui-bian; in Taipei. The Nationalists' first loss of power since Taiwan's founding in 1949 sparked protests and calls for Lee's departure...
...opposition candidate Chen Shui-bian as their next President--despite warnings from Beijing that his election could mean war. Chen's win, which ended 55 years of Kuomintang (Nationalist Party) rule on the island, sent tremors around Asia in anticipation of Beijing's reaction, even as the streets of Taipei turned into a party. Only 14 years ago, Chen, a pro-democracy lawyer, had been languishing in jail on charges of libeling a high-ranking KMT member. "This is the greatest victory of Taiwan's democracy movement," Chen told TIME in his office on the day of the victory...
After a week of wild electioneering--and equally wild slips and slides in Taipei's stock market--the final tally provided an emotional release. "I am overwhelmed by the victory," said Hsiao Li-hsin, 30, a legislative assistant who stood among the mob that crowded the streets outside Chen's party headquarters. "I'm going to stay here all night and all tomorrow morning." Police had closed the streets to traffic for blocks around the victory party, which filled the air with confetti, firecrackers and the occasional outburst of song. "I'm going to sleep well for the first time...
...over Taiwan? For 50 years, Taipei and Beijing have conducted a symphony of sword rattling over the island. Conventional wisdom suggests China's giant army would steamroller Taiwan. But U.S. sources suggest a more nuanced view--one that may keep Beijing's sabers sheathed for a while. "I don't think there is a realistic likelihood that the P.R.C. would do something as extraordinary as invade Taiwan," says Navy Secretary Richard Danzig. "The cost would be way too high for them." Here...
Stability in relations between Beijing and Taipei has long been maintained by the "One China" policy, a sort of don't-ask-don't-tell illusion which holds that they're part of the same sovereign entity - a policy with which Taiwan's anticommunist leaders for years deluded themselves that they were the mainland?s true rulers. China, for its part, has convinced itself that Taiwan will be reincorporated under mainland rule along the same lines as Hong Kong. But whereas Hong Kong's fate was decided by its British colonial rulers, Taiwan's is in the hands...