Taiwan Strait narrowed with the DPP defeat


The local elections on Saturday in Taiwan have become a bitter defeat for the ruling party DPP (Democratic Progressive Party), which strives for independence. The island is actually independent, but is not recognized internationally, because China claims it.

According to Beijing, the ballot box shows that there is “a strong urge among compatriots in Taiwan to share the benefits of peaceful development across the Taiwan Strait,” Xinhua news agency reported on Sunday, with Taiwanese President Tsai Ing Wen immediately resigning as DPP party leader announced.

The opposition party Kwomintang (Chinese National Party) won in at least 15 of the 22 cities and regions where it was chosen. The party has indicated that it wants to strive for a better relationship with China. The parliamentary elections are on the agenda in 2020.

Ten referendums were also held. A large majority of voters turned against same-sex marriage and for the recording of marriage as a union between husband and wife. About thirteen million voters spoke out against gay marriage and only three million – for it.

By: Abaigael Schlomski

Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.

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