Taiwan Ruling Party Concedes Defeat

03/22/2008

TAIPEI, Taiwan (AP) - Ruling party candidate Frank Hsieh conceded defeat in Taiwan's presidential election, his spokesman said Saturday.

"We are accepting that we lost," Hsieh Hsin-ni said.

With almost all votes counted, opposition candidate Ma Ying-jeou has a 17 percentage point lead over Hsieh.

Ma won over voters with promises to expand economic ties with China while protecting the island from being swallowed up politically by its giant communist neighbor.