Ma Ying-jeou could be forgiven for being nervous. He rode to victory in Taiwan’s presidential election last month on a wave of hope that he could bring peace with China and create an economic boom for the island after a decade of ­stagnation.

But as he prepares to take office, the conditions for delivering on his campaign pledges start to look more challenging by the day – the Chinese government is struggling to deal with protests in the run up to the Beijing Olympics, and the global economic horizon is darkening.