Taiwan’s economy is set to take poll position among the Asian Tigers after Taiwanese president Tsai Ing-Wen won the election by a monumental landslide on Saturday, according to analysts.
Tsai secured 57.1 percent of the votes while her main opponent secured 38.6 percent.
Analyst predict Taiwan to lead growth over all other Asian Tigers South Korea, Singapore and Hong Kong. The Asian economies suffered greatly due to the ramifications of the US-China trade war.
Out of all the export reliant Tigers, Taiwan posted the best growth figures heading out of 2019. Taiwan reached 2.91 percent GDP growth in the third quarter of 2019.
Analysts are optimistic because Tsai has narrowed her administrations goals to promote economic growth and a step back from social reforms.
Beijing opposed Tsai’s election and still maintains the policy that Taiwan will be reunified with the mainland.
“The Taiwan question is China’s internal affair. Regardless of what happens in Taiwan, the basic facts won’t change: there is only one China in the world and Taiwan is part of China,” said Geng Shuang, a Chinese foreign ministry spokesman on Sunday.
The US has maintained that it would protect Taiwan’s sovereignty.
“Taiwan once again demonstrates the strength of its robust democratic system. Thank you President Tsai for your leadership in developing a strong US partnership,” tweeted US Secretary of State Mike Pompeo after Tsai’s win.