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Source: Britannica

Context

The main obstacle to Taiwanese President Lai Ching-te's policies has been the opposition KMT's 52 seats out of 113 parliamentary seats in the Legislative Yuan, which prevented his party from gaining a majority.

About Taiwan

• Taiwan is located north of the Philippines and in the South China Sea.
• It is located approximately 180 kilometers off China's south-east coast.
• It is divided from the mainland by the Taiwan Strait.

Geopolitical Significance

• The Taiwan Relations Act (1979) promotes US-Taiwan relations by ensuring trade, cultural exchange, and defensive armament sales despite Beijing's concerns.
• Taiwan's significance: Located in the East China Sea, Taiwan is critical for regional trade, with the Taiwan Strait serving as a major global shipping route.
• Furthermore, Taiwan produces more than 60% of the world's semiconductors and around 90% of the most advanced chips, making it an important role in the global technology supply chains.
• China & Taiwan: China adheres to the One China Policy, which states that Taiwan is an inseparable part of China and must eventually reunite.
• Taiwan, on the other hand, considers itself a self-governing democracy with a constitution and elected government.
• India's Stand on One China Policy: In 2003, India signed a joint declaration with China recognizing the Tibet Autonomous Region as part of Chinese territory. 

Source: The Hindu