A New Dawn for Taiwan and China
Here is the opening of this topical editorial from Bloomberg:
A sweeping victory for Taiwan’s independence-minded Democratic Progressive Party in this weekend’s elections seems to guarantee a renewal of tensions with mainland China, which considers the island part of its sovereign territory. In fact, the vote could put relations on a more solid footing, if both sides exercise moderation in the coming months.
However striking the vote, this wasn’t a call for independence. While fewer and fewer Taiwanese want to reunify with the mainland, not that many more favor de jure independence -- only about a fifth of the population, according to recent polls. Indeed, while opinions vary about how closely Taiwan should or shouldn’t integrate its economy with the mainland’s, there's little doubt most Taiwanese would like to maintain the ambiguous political status quo. That means threats from Beijing and adventurism from Taiwan’s new rulers are equally likely to provoke a popular backlash.
Neither side can afford that. Chinese President Xi Jinping is wrestling with a difficult economic transition that’s roiling global markets. And President-elect Tsai Ing-wen staked her campaign on revitalizing Taiwan’s contracting economy. That’s going to require maintaining stable relations with the mainland -- which absorbs around 40 percent of Taiwan’s exports -- even as she seeks to expand trade with other nations. China could easily block any bid by Taiwan to join the Trans-Pacific Partnership, for instance -- a pact that could otherwise provide a major boost to the island’s economy.
In a troubled world, this is one potential problem we probably do not need to worry about.
Both China and Taiwan benefit from a healthy trade relationship with each other. China has the power but no need for belligerent aggression towards little Taiwan. That would only damage China’s relationships with the rest of the world.
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