What does KMT mean in Unclassified?

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Kenya Markets Trust

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Definition

What does KMT mean?

KMT
The Kuomintang (KMT), also referred to as the Guomindang (GMD), the Nationalist Party of China (NPC) or the Chinese Nationalist Party (CNP), is a major political party in the Republic of China, initially on the Chinese mainland and then in Taiwan since 1949. It was the sole party in China during the Republican Era from 1928 to 1949, when most of the Chinese mainland was under its control. The party retreated from the mainland to Taiwan on 7 December 1949, following its defeat in the Chinese Civil War. Chiang Kai-shek declared martial law and retained its authoritarian rule over Taiwan under the Dang Guo system until democratic reforms were enacted in the 1980s and full democratization in the 1990s. In Taiwanese politics today, the KMT is a centre-right to right-wing party, and is the largest party in the Pan-Blue Coalition. The KMT's primary rival in elections is the Democratic Progressive Party (DPP) and its allies in the Pan-Green Coalition. As of 2023, the KMT is currently the largest opposition party in the Legislative Yuan. The current chairman is Eric Chu. The party originated as the Revive China Society, founded by Sun Yat-sen on 24 November 1894 in Honolulu, Republic of Hawaii. From there, the party underwent major reorganization changes that occurred before and after the Xinhai Revolution, which resulted in the collapse of the Qing dynasty and the establishment of the Beiyang government. In 1919, Sun Yat-sen re-established the party under the name "Kuomintang" in the Shanghai French Concession. From 1926 to 1928, the KMT under Chiang Kai-shek successfully led the Northern Expedition against regional warlords and unified the fragmented nation. From 1937 to 1945, the KMT-ruled Nationalist government led China through the Second Sino-Japanese War against Japan. By 1949, the KMT was decisively defeated by the Chinese Communist Party (CCP) in the Chinese Civil War (in which the People’s Republic of China was established by the CCP on 1 October 1949) and withdrew the ROC government to Taiwan, a former Qing territory annexed by the Empire of Japan from 1895 to 1945. From 1949 to 1987, the KMT ruled Taiwan as an authoritarian one-party state after the February 28 incident. During this period, martial law was in effect and civil liberties were curtailed under the guise of anti-communism, with the period being known as the White Terror. The party also oversaw Taiwan's economic development, but also experienced diplomatic setbacks, including the ROC losing its United Nations seat and most of the world including its ally the United States switching diplomatic recognition to the CCP-led People's Republic of China (PRC) in the 1970s. In the late 1980s, Chiang Ching-kuo, Chiang Kai-shek's son and the next KMT leader in turn, lifted martial law and allowed the establishment of opposition parties such as the Democratic Progressive Party. His successor Lee Teng-hui continued pursuing democratic reforms and constitutional amendments, and was re-elected in 1996 through a direct presidential election, the first time in the ROC history. The 2000 presidential election put an end to 72 years of the KMT's political dominance in the ROC. The KMT reclaimed power from 2008 to 2016, with the landslide victory of Ma Ying-jeou in the 2008 presidential election, whose presidency significantly loosened restrictions placed on cross-strait economic and cultural exchanges. The KMT again lost the presidency and its legislative majority in the 2016 election, returning to the opposition. The KMT is a member of the International Democrat Union. The party's guiding ideology is the Three Principles of the People, advocated by Sun Yat-sen and historically organized in a Leninist basis of democratic centralism, a principle conceived by the Russian revolutionary Vladimir Lenin that entailed open discussion of policy on the condition of unity among party members in upholding the agreed-upon decisions. The KMT opposes de jure Taiwan independence, Chinese unification under the "one country, two systems" framework, and any non-peaceful means to resolve the cross-strait disputes. Originally placing high priority on reclaiming the Chinese mainland through Project National Glory, the KMT now favors a closer relation with the PRC and seeks to maintain Taiwan's status quo under the Constitution of the Republic of China. The party also accepts the 1992 Consensus, which defines both sides of the Taiwan Strait as "one China" but maintains its ambiguity to different interpretations.

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"KMT." Abbreviations.com. STANDS4 LLC, 2024. Web. 26 Dec. 2024. <https://www.abbreviations.com/term/2624236>.

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