In 1996, Taiwan held its first direct presidential election. As a native Taiwanese and a member of the Chinese Nationalist Party (KMT), then-president Lee Teng-hui (李登輝) played a key role in the nation’s transition to democracy. This offered an opportunity for the KMT to transform itself into a “Taiwanese Nationalist Party” and for the Republic of China (ROC) to gain a new lease on life here in Taiwan.
If Taiwan could have had a new constitution as a result, the ROC in exile would have entered history, putting an end to the period between 1949 and 1996, although, since the writing and implementation of a new constitution would take some time, that would perhaps not have happened until 2000.