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Taiwan's newly inaugurated president William Lai has called on China to stop threatening the island and accept the existence of its democracy.

But Taiwan鈥檚 relationship with China is not the only thing that William Lai has to tackle. there are a number of economic challenges ahead of him like rising property prices and encouraging young Taiwanese people to stay and work in the country instead of heading to other prosperous Asian cities.

(Picture: Taiwan President William Lai (Lai Ching-te), waves to the crowd during the Taiwan Presidential Inauguration Source: EPA/RITCHIE B TONGO)