The resounding victory of Taiwan's opposition party, the Kuomintang (KMT), in last Saturday's presidential election has raised hopes for a new era of stability across the Taiwan Strait. Since the Democratic Progressive party, which advocates de jure independence for Taiwan, came to power in May 2000 tensions between mainland China and Taiwan have escalated while political dialogue was suspended. Chen Shui-bian, the incumbent president, has pursued a controversial policy of cementing Taiwan's distinct national identity and separateness from mainland China, even though some of his actions risked confrontation with Beijing and provoked rebukes from Washington.

Now that Taiwan's voters have soundly rejected Mr Chen's policy and given Ma Ying-jeou, the president-elect, a strong mandate to repair ties with Washington and seek a new modus vivendi with Beijing, one might be tempted to breathe a deep sigh of relief.