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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 2000. Chen was re-elected in 2004 in a tightly contested election. KMT's Ma Ying-jeou won the 2008 presidential election by a substantial majority and was inaugurated in 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 2000. Chen was re-elected in 2004 in a tightly contested election. KMT's Ma Ying-jeou won the 2008 presidential election by a substantial majority and was inaugurated in 2008.
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President [[Tsai Ing-wen]], a member of the pro-independence Democratic Progressive Party who won election in 2016, won re-election in 2020.<ref>Multiple references:
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*Fu, Eva (January 11, 2020). [https://www.theepochtimes.com/taiwan-president-tsai-ing-wen-re-elected-in-landslide-victory_3200909.html Taiwan President Wins Re-election by Landslide in Firm Rebuke to Beijing]. ''The Epoch Times''. Retrieved January 11, 2020.
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*Moreno, J. Edward (January 11, 2020). [https://thehill.com/policy/international/477833-taiwan-sends-message-to-beijing-with-presidents-reelection Taiwan sends message to Beijing with president's reelection]. ''The Hill''. Retrieved January 11, 2020.
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*Kurtenbach, Elaine; Lai, Johnson (January 11, 2020). [https://apnews.com/623049bbc54ad3601f660acaf962d8d6 Taiwan’s leader reelected as voters back tough China stance]. ''Associated Press''. Retrieved January 11, 2020.
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*Lee, Yimou; Shen, Meg (January 10, 2020). [https://www.reuters.com/article/us-taiwan-election/taiwan-president-wins-landslide-victory-in-stark-rebuke-to-china-idUSKBN1ZA009 Taiwan president wins landslide victory in stark rebuke to China]. ''Reuters''. Retrieved January 11, 2020.
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*Wong, Chun Han; Kazer, William; Wang, Joyu (January 11, 2020). [https://www.wsj.com/articles/taiwans-president-incumbent-who-challenged-china-set-to-win-re-election-11578748281 Taiwanese President Who Challenged China Claims Re-Election Victory]. ''The Wall Street Journal''. Retrieved January 11, 2020.</ref>
    
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