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Taiwan has developed steadily into a major international trading power with $466 billion in two-way trade (2007). Taiwan's accession to the World Trade Organization in 2002 has expanded its trade opportunities and further strengthened its standing in the global economy. Tremendous prosperity on the island has been accompanied by economic and social stability. Chiang Kai-shek's successor, his son Chiang Ching-kuo, began to liberalize Taiwan's political system, a process that continued when President Lee Teng-hui took office in 1988. The direct election of Lee Teng-hui as president in 1996 was followed by opposition Democratic Progressive Party (DPP) candidate Chen Shui-bian's election victory in March 2000. Chen was re-elected in March 2004 in a tightly contested election. KMT's Ma Ying-jeou won the March 2008 presidential election by a substantial majority and was inaugurated on May 20, 2008.
Taiwan has developed steadily into a major international trading power with $466 billion in two-way trade (2007). Taiwan's accession to the World Trade Organization in 2002 has expanded its trade opportunities and further strengthened its standing in the global economy. Tremendous prosperity on the island has been accompanied by economic and social stability. Chiang Kai-shek's successor, his son Chiang Ching-kuo, began to liberalize Taiwan's political system, a process that continued when President Lee Teng-hui took office in 1988. The direct election of Lee Teng-hui as president in 1996 was followed by opposition Democratic Progressive Party (DPP) candidate Chen Shui-bian's election victory in March 2000. Chen was re-elected in March 2004 in a tightly contested election. KMT's Ma Ying-jeou won the March 2008 presidential election by a substantial majority and was inaugurated on May 20, 2008.
==Further reading==
* Taylor, Jay. ''The Generalissimo: Chiang Kai-Shek and the Struggle for Modern China (2009), 722 pp. highly favorable scholarly biography''
*[http://www.gio.gov.tw/lp.asp?ctNode=4400&CtUnit=996&BaseDSD=24&mp=807 Government Information Office, Republic of China (Taiwan)]
==References==
==References==
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