CardSharp
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Most of the world doesn't like to be classified in the same bracket as China (Peking) for obvious reasons. But they are comfortable dealing with the more liberal China (Taipei). It is not as far fetched as you think. It has happened in Afghanistan earlier. It will probably happen in a few days in Libya. I agree it might not be as straight forward in the case of certain rogue regimes like those in Pyongyang or Peking but ideally, if the civilized world had the chance they would hand over total recognition to Seoul and Taipei respectively.
228 Incident - Wikipedia, the free encyclopedia