The Taiwan Tally: A Crucial Election

2024 is a year of essential importance in the geo-political landscape of the world, with several crucial elections taking place in major countries. The Indian elections are underway, and the US elections are soon to come, but one such contest that may have slipped past the public’s mind was the Taiwanese General Elections.

Taiwan has catapulted to major importance in the geopolitical landscape of the world with its 57% market share in the semiconductor market- which is needed for everything from AI, cars, and to almost every piece of technology that we make use of. The country is also of economic and strategic significance to China, as they continue militarizing their border with the goal of re-establishing their control of the region. The parties in control of Taiwan are forced to navigate this tension with China, making the results of this election even more important. 

On January 13, 2024, Taiwan carried out elections for both its presidential position and the 113-seat Legislative Yuan - The Taiwanese version of the Parliament of India or US Congress. The electoral process took place and the contender from the current ruling party (the Democratic Progressive Party) William Lai emerged closely victorious - his efficacy as a candidate for the leadership position being put to the test after his inauguration on May 20th. 

While the DPP was able to come out successful once more, extending their rule in power since 2016, they have lost their majority in the Yuan. They only secured 51 of the 113 seats, with their main opposition in the Kuomintang (KMT) party winning 52 seats. This leaves Taiwan in a unique position, as the newly rising Taiwan People's Party (TPP) are able to single-handedly swing decisions for the legislature when the KMT and DPP are at odds, despite only having 8 seats. 

This places the TPP in a unique position of power, which will be crucial for the geo-politics in the region. The tenure of the DPP has seen great economic and social growth for Taiwan, but has seen further deterioration in its relations with China. China is likely to continue exerting influence on Taiwan and building its military presence. The KMT is relatively Pro-China, as opposed to the clearly Anti-China policy of the DPP. The decisions that the neutral TPP takes in this position can decide the future of the region, and the future of Taiwan’s sovereignty.