In re-electing DPP, Taiwan has kept the status quo

After months of intense campaigning, the Democratic Progressive Party (DPP) on Saturday emerged victorious in the 2024 Taiwan presidential election, securing an historic third consecutive term.

However, the party’s dominance has gone from absolute to relative; it secured only 40% of the presidential votes, and fell short of retaining the majority of legislative seats.

Meanwhile, the Kuomintang (KMT) failed to retake the presidency as well as the majority of legislative seats. The remaining seats are held by Taiwan People’s Party (TPP).

The Taiwan People’s Party, despite occupying third place in the Legislative Yuan with eight seats, achieved a remarkable 26% in the presidential race, punching above its weight considering its limited resources and recent formation.

These results signify a shift in Taiwan’s political landscape. The long-standing two-party system appears to be transitioning into a messy three-party dynamic.

Why is there a third-party rise?

While the DPP’s third consecutive presidential term may seem like a victory, cracks in the foundation of Taiwan’s political landscape are widening.

The roots of this instability stretch back to 2020, when anti-establishment sentiment simmered beneath the surface, even as the China factor dominated headlines. This time, the discontent is boiling over.

The DPP government, once riding a wave of youthful support, now faces accusations of power abuse and, crucially, a failure to address the very issues that propelled it to power in 2016; skyrocketing housing prices, stagnant wages, and widening inequality. These woes fueled the rise of the TPP.

The Kuomintang, the other pillar of the old order, struggles to offer solutions. Its proposed subsidized interest rates risked