I am honored and pleased to have this opportunity to address our many friends gathered here for the annual meeting of the American Conservative Union. In particular, allow me to use this occasion to pay tribute to the ACU for advocating and upholding the universal values of democracy, freedom, human rights, and the free market economy.
Thanks to American support for these values over the years, a large part of the world's population can now enjoy freedom and human rights as well as benefit from the prosperity brought about by the market economy. The Republic of China on Taiwan is no exception. As a newly industrialized country, we have achieved outstanding economic success and made great progress in democracy.
The international community has often described Taiwan's transformation as a “quiet revolution.” In fact, the Republic of China on Taiwan bade farewell to authoritarian rule in a peaceful manner, thus allowing people to fully enjoy free speech and political freedom. The people's right to participate in the political process and competition through party politics are protected by law. In 1996, the ROC elected its president by popular vote for the first time, fully realizing the ideal of popular sovereignty. The ROC presidential election not only serves as a model of democratic development for the Chinese mainland, but also topples the myth of “Asian values” being incompatible with democracy. It further demonstrates that democracy, freedom, and human rights are universal values.
With regard to the market economy and economic liberalization, Taiwan's developmental model, from an import-substitution to an export-oriented economy, has served as a guide for newly industrialized countries around the world. Due to the acceleration of market and trade liberalization in recent years, Taiwan has become the world's 15th largest trading nation and the seventh largest trading partner of the US, with trade between the ROC and the US totaling US$31.7 billion in 1998 alone. The great vitality and flexibility of Taiwan's small- and medium-sized enterprises can be clearly seen in their tremendous research and development potential and their large market share of computer, information and other high-tech products in the world.
In addition to the values of democratic government, protection of basic freedoms and human rights, as well as a market economy, the ROC also shares with the US a common concern for national security. The United States' firm support for the security of Taiwan has been an important factor in our liberalization, democratization, and economic development. The formulation and implementation of the Taiwan Relations Act, the US supply of defensive weapons to Taiwan, and the decisive move in deploying two aircraft carriers to the seas near Taiwan during the 1996 Taiwan Strait crisis are all substantial expressions of the commitment the US has made to maintain the security of Taiwan. In addition, the ROC is situated at the gateway of the Asia-Pacific, a strategic position to the US, is closely linked to US interests in the region, and has been America's strategic partner in maintaining the peace and stability of this region. In sharp contrast to Taiwan is the PRC, with its totalitarian rule, insistence on one-party rule, arrest and imprisonment of dissidents, and suppression of human rights and religious freedom, including the Tibetan religion and the Falun Gong sect. Both the US and the ROC cherish the common hope and expectation that one day the PRC will democratize its government, liberalize its economy, and have a pluralistic society. We hope that, in the future, all Chinese on the Chinese mainland will enjoy full religious and political freedoms, as well as the prosperity and benefit brought by a market economy. We also hope that the future democracy and freedom of the Chinese mainland will become a stabilizing force to help bring peace and security to this region.
I would like to take this opportunity to thank our American friends for their concern and assistance following the tragic September 21 earthquake. Although Taiwan has not been able to fully participate in many international organizations due to obstruction from Beijing, we nevertheless have actively worked to contribute to the world community, for which we have received widespread affirmation and reciprocation. In the aftermath of the disaster, 22 countries extended assistance to us, sending rescue teams and other forms of assistance. In particular, the United States immediately dispatched a rescue team and supplies to provide urgent relief and assistance for the devastated areas. Such show of concern fully verifies the Confucian saying that “The virtuous are never alone.” It also strengthens our determination and conviction to actively participate in the international community. Taiwan's ability to rise to its feet again after this disaster is due to the assistance of the international community and, more important, to the sound economic foundation it has established for the long period of time with the market economy. It was this sound economic basis that enabled both domestic demand and the import-export market to return to normal levels within a few months. Moreover, the impact of the earthquake has not stalled the progress of the upcoming March presidential election, fully demonstrating the adherence of our government and citizens to the ideal of democracy.
The Republic of China on Taiwan has been a longstanding and important ally of the United States in the Asia-Pacific region. Because of Taiwan's respect for democracy, freedom, and human rights, and its continued promotion of free trade and a market economy, we anticipate that relations between Taipei and Washington will certainly grow closer and stronger in the areas of politics, security, and trade. We will uphold our established policy, continue to improve cross-strait relations, and ensure stability in the Taiwan Strait. It is also our hope to create conditions conducive to friendly cross-strait interaction through dialogue with the Chinese mainland. We will demonstrate to the world that the Republic of China on Taiwan is a peace marker and a contributor eager to share its developmental success with all Asia-Pacific nations and their peoples.
As we share many common values and interests with the United States, we hope to build on our current bilateral relationship to strengthen communication and engage in even closer dialogue with Washington. Under the ideals of peace and democracy, we hope to strengthen the system of regional cooperation and work in a concerted effort to safeguard our mutual security and interests in the Asia-Pacific region. We also look forward to working with the United States to shape global free trade and boost global prosperity following our entry into the World Trade Organization.
Finally, I would like to wish this convention the greatest success, and good health to all the friends and distinguished guests. Thank you.