New Taiwan's President Lai Ching-te, center, Vice President Hsiao Bi-khim, right, and former President Tsai Ing-wen wave during Lai's inauguration ceremonies in Taipei, Taiwan, Monday, May 20, 2024. Taiwan inaugurated Lai as its new president Monday, installing a relative moderate who will continue the self-governing island democracy’s policy of de facto independence while seeking to bolster its defenses against China.(AP Photo/Chiang Ying-ying)