Morgan Stanley
India | Sunday, 20 July 2008
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Taiwan's new president takes charge

By Akshay Baluni
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Posted 20 May 2008 @ 03:25 pm GMT

Two months after emerging victorious on a pledge to mend fragile relations with China and revitalize the economy, Ma Ying-jeou has taken office as Taiwan's new president.

Taiwan`s opposition Nationalist Party President-elect Ma Ying-jeou recites the presidential oath during an inauguration ceremony at the Presidential Office in Taipei (left)
Taiwan`s opposition Nationalist Party President-elect Ma Ying-jeou recites the presidential oath during an inauguration ceremony at the Presidential Office in Taipei (left). Two months after emerging victorious on a pledge to mend fragile relations w...

Taking over from the eight-year presidency of Chen Shui-bian whose confrontational pro-independence policies often led to friction with China and with the United States which is apparently Taiwan's most important foreign partner, Ma's inauguration has been welcomed by one and all.

Taking the oath of office, Ma, 57, said, "I will faithfully perform my duties, promote the welfare of the people, safeguard the security of the country, and will in no way betray the people's trust."

Vincent Siew, 69, was also sworn in as the vice-president, followed by the cabinet, led by Premier Liu Chao-shiuan.

Ma in his inaugural address said that Taiwan "will pursue cross-strait peace and regional stability. It is our consistent goal."

Ma's Nationalists have denounced any unification measure with China in stark contrast to Chen's Democratic Progressive Party's independence bid.

Taiwan split from China amid civil war in 1949. Yet, fifty-nine years after their split, China still claims Taiwan as part of its territory, and has repeatedly threatened to attack if the island makes its de facto independence permanent. Currently, only 24 mostly-small nations recognize Taiwan, formally called the Republic of China, as an independent nation.

Ma has vowed not to negotiate with Beijing about unification during his term of office for sure, which will be up-till 2012. Further still he said that it was highly unlikely that unification talks would be held "within our lifetimes."

Giving politics the backseat, Ma's major emphasis is on tying Taiwan's powerful but somewhat sluggish high-tech economy more closely to China's economic boom.

Initially, he has proposed to begin direct commercial flights across the 100-mile-wide Taiwan Strait thereby opening Taiwan's doors to a massive influx of Chinese tourists. He has also promised to work toward a peace treaty with Beijing keeping prospective details under wraps for the time-being.

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