Taiwan

On Saturday, Taiwan elected its first female President in what’s being billed as a “landmark” vote that returns the DPP to power for the first time in 8 years.

When all of the votes were in, it wasn’t even close. 59-year-old former law professor Tsai Ing-wen captured 56% of the vote while KMT’s Eric Chu managed just 31% in a humiliating defeat for the Nationalists.

DPP also won its first majority in the legislature, grabbing 68 of 113 seats. Previously, KMT held 64 seats.

Former law professor, Tsai Ing-wen, 59, has become the first female President of Taiwan. She won 60 per cent of the votes for the Democratic Progressive Party (DPP) defeating the opposition KMT’s Eric Chu who gathered 30 per cent, with two thirds of the votes counted on Saturday evening. The DPP has been less enthusiastic about economic integration with China while the KMT has pursued friendly economic ties with the mainland over the last eight years in office.

"We failed. The Nationalist Party lost the elections. We didn't work hard enough,” Eric Chu said on Saturday before taking a long bow in front of a “thin” crowd of supporters.

Chu stepped in to become the Nationalist Party (KMT) candidate in Taiwan’s presidential race when his predecessor was deemed too divisive. The island held two elections on Saturday, one for the presidency and one for seats in the national legislature - The Democratic Progressive Party scored resounding victories in both ballots.

By EconMatters