The opposition parties in Taiwan, which advocate for closer ties with China, have registered separate presidential candidates on Friday after experiencing a dramatic split. This division might make it easier for the ruling party, which has resisted pressure from Beijing, to maintain power despite the upcoming Jan. 13 election. The Chinese Communist Party (CCP) views Taiwan as part of its own territory and has intensified both military and political pressure on the island to recognize its sovereignty claims.
The Kuomintang (KMT) and the much smaller Taiwan People’s Party (TPP) had initially agreed to collaborate against the ruling Democratic Progressive Party (DPP) but failed to make progress towards a united presidential ticket. The KMT eventually withdrew from last-minute negotiations with the TPP, held in front of reporters and broadcasted live on television, subsequently causing the talks to collapse. Terry Gou, the billionaire founder of major Apple supplier Foxconn, had been running as an independent candidate and had brokered the discussions between the opposition parties.
Despite the disagreement within the opposition camp, both KMT and TPP made separate announcements of their running mates for the presidential elections. Mr. Hou from KMT chose media personality Jaw Shaw-kong, while Mr. Ko from TPP selected Cynthia Wu, a lawmaker from the TPP with familial ties to conglomerate Shin Kong Group. Meanwhile, Mr. Gou, whose withdrawal from the race was widely expected after the breakdown of opposition talks, confirmed his decision to withdraw his candidacy just three hours before the registration deadline for the election commission.
On the other hand, the ruling DPP has continued to make progress in its election campaign, presenting its presidential and vice presidential candidates earlier in the week. There are expectations of tough challenges ahead for the two opposition parties, with speculation that they may seek to capitalize on internal DPP scandals before the election day. The DPP’s Lai Ching-te, Taiwan’s vice president, has consistently led in the polls and is heading the campaign’s progress.
Despite the opposition’s disunity, Mr. Lai expressed that he is not resting on his laurels and criticized the disorganization among the opposition by discussing his busy schedule and numerous events attended in a single day. Taipei’s stock market remained relatively unaffected by the ongoing political turmoil, with the exception of travel-related stocks, which saw a 3.2% decline amidst concerns about relations with China and the potential return of Chinese tourists to Taiwan.