Young democracies can be cruel: their voters are often as unforgiving as political opponents. The two weeks since Taiwan's disputed presidential election of March 20 - only the third such democratic vote in the country's history - has tested this truism almost to the breaking point. Taiwan's young democracy must now cope with the balancing act that President Chen Shui-bian's re-election has thrust upon it.
While canvassing for votes in his hometown in southern Taiwan on the eve of the election, President Chen and Vice President Annette Lu were both wounded by an assassin's bullet. The sympathy this secured gave the President his razor-thin margin of victory - with just 50.1% of the votes - over Lien Chan, the candidate of the Kuomintang Party and People's First Party (KMT-PFP) coalition. Opposition street protests and shouts that the assassination was stage followed. A recount was demanded.
None of this is surprising, because Taiwan's society is evenly and deeply polarized. President Chen's Democratic Progressive Party (DPP) called for "one country on each side of the Taiwan Strait" and for "preventing the return of an alien regime" (meaning the KMT, which came to Taiwan in 1949). But while Chen's campaign to safeguard Taiwan against threats from mainland China clearly galvanized the party's supporters, it made the uncommitted nervous and the rival KMT angry.
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With elevated global inflation likely to persist for some time, the prospect of competitive exchange-rate appreciations is looming larger. Instead of a race to the bottom in the currency market, there may be a scramble to the top – and poorer countries will likely suffer the most.
warns that a series of competitive exchange-rate appreciations would hurt poorer economies the most.
Neither the invasion of Ukraine nor the deepening cold war between the West and China came out of the blue. The world has been increasingly engaged over the past half-decade, or longer, in a struggle between two diametrically opposed systems of governance: open society and closed society.
frames the war in Ukraine as the latest battle for open-society ideals – one that implicates China as well.
Shlomo Ben-Ami
highlights the lessons countries like China and Iran are drawing from Vladimir Putin’s aggression, offers advice to Ukrainian peace negotiators, and considers the wisdom of Finland and Sweden's NATO membership.
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Young democracies can be cruel: their voters are often as unforgiving as political opponents. The two weeks since Taiwan's disputed presidential election of March 20 - only the third such democratic vote in the country's history - has tested this truism almost to the breaking point. Taiwan's young democracy must now cope with the balancing act that President Chen Shui-bian's re-election has thrust upon it.
While canvassing for votes in his hometown in southern Taiwan on the eve of the election, President Chen and Vice President Annette Lu were both wounded by an assassin's bullet. The sympathy this secured gave the President his razor-thin margin of victory - with just 50.1% of the votes - over Lien Chan, the candidate of the Kuomintang Party and People's First Party (KMT-PFP) coalition. Opposition street protests and shouts that the assassination was stage followed. A recount was demanded.
None of this is surprising, because Taiwan's society is evenly and deeply polarized. President Chen's Democratic Progressive Party (DPP) called for "one country on each side of the Taiwan Strait" and for "preventing the return of an alien regime" (meaning the KMT, which came to Taiwan in 1949). But while Chen's campaign to safeguard Taiwan against threats from mainland China clearly galvanized the party's supporters, it made the uncommitted nervous and the rival KMT angry.
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As a registered user, you can enjoy more PS content every month – for free.
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