DATE=3/23/2000
TYPE=CORRESPONDENT REPORT
TITLE=TAIWAN / POLITICS (L-ONLY)
NUMBER=2-260498
BYLINE=DERRICK MCELHERON
DATELINE=TAIPEI
CONTENT=
VOICED AT:
INTRO: Taiwan's President Lee Teng-hui has
decided to quit as leader of the island's ruling
Nationalist party. Derrick McElheron reports from
Taipei, Mr. Lee is expected to relinquish the
post on Friday, bowing to demands that
he take responsibility for the party's
humiliating defeat in last Saturday's elections.
TEXT: The outgoing president's decision to give
up his party post now instead of in September as
he had planned, was brought on by days of often-
violent protests and mounting pressure from
members of his own party.
President Lee is to announce his resignation at
an emergency meeting of the Nationalist or K-M-T
party. He is expected to appoint the current
party vice chairman, Lien Chan, as his temporary
replacement.
Party officials said President Lee's decision to
give up the post of party chairman, came after
members supporting Mr. Lee and those wanting him
to quit, were able to reach an agreement that
would allow him to make a graceful exit.
The angry rock-throwing crowds that had remained
outside the K-M-T's headquarters largely
dispersed when it became known President Lee
would give in to their demands.
Although Mr. Lee will give up his seat as K-M-T
chairman, he will stay on as President
until May 20th, when Democratic Progressive Party
President-elect Chen Shui-Bian officially takes
office.
Taiwan's stock market responded instantly to the
news with a stunning rally, bouncing up more than
five percent to end trade at 9534.
Market analysts say investors take President
Lee's resignation as a sign of stability and a
new beginning for the country.
Meanwhile, Taiwan's President-elect, Chen Shui-
bian, met Wednesday in Taipei with United States'
unofficial envoy Lee Hamilton to discuss tensions
between the island and mainland China.
Their were no details of the meeting between the
former U-S Congressman and Mr. Chen, but Mr.
Hamilton has said he wanted to learn more about
the President-elect's policies. He also said he
wanted to convey the importance of the United
States' unofficial ties to Taiwan.
Since his election, Mr. Chen has tried to ease
both Chinese and U-S concerns about his previous
pro-independence stance. He has called for a
meeting with Chinese leaders and insisted peace
with the mainland will be his top priority as
President. His Democratic Progressive Party has
also begun considering whether to drop support of
independence from the party platform. (signed)
NEB/DM/FC
23-Mar-2000 03:40 AM EDT (23-Mar-2000 0840 UTC)
NNNN
Source: Voice of America
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