Taiwanese voters elect Lai Ching-te, rejecting Chinese pressure for a third DPP term.
DPP loses parliamentary majority due to public frustration with domestic issues.
Lai emphasizes maintaining cross-strait status quo while safeguarding Taiwan from Chinese threats.
China acknowledges DPP's victory but asserts it does not represent mainstream public opinion.
Geopolitical tensions escalate with an ongoing arms race in the Taiwan Strait.
Lai extends cooperation to rivals Hou Yu-ih and Ko Wen-je to address domestic challenges.