President Resigns as Party Leader

As expected, Taiwan’s president resigned as leader of the ruling Nationalist Party, a victim of the opposition’s stunning upset in the island nation’s presidential election. Since the party’s humiliating defeat, protesters have demonstrated outside the Nationalists’ headquarters, demanding that President Lee Teng-hui step down immediately as party chairman. “There were many reasons for the election setback, but as the party chairman, I will shoulder the responsibility,” Lee said in a statement. Many expected the Nationalists, one of the world’s richest political parties, to keep their five-decade-long grip on Taiwan’s presidency. But their candidate, Vice President Lien Chan, struggled to convince voters he could fight rampant corruption. Former Taipei Mayor Chen Shui-bian won, campaigning as a corruption buster.