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Global Affairs Session 37 15 May 2026 THE TAIWAN QUESTION Taiwan and the question of "One China" Taiwan is one island claimed by two governments, and it sits at the centre of the world's most dangerous flashpoint. The Republic of China and the People's Republic of China each trace a rival claim back to 1949, Taiwan has turned itself into an indispensable semiconductor economy, and Washington's stake in its fate now shapes the entire US-China relationship.