The ruling Democratic Progressive Party (DPP) retained power as its candidate Lai Ching-te, also known as William Lai, was elected president to replace outgoing president Tsai Ing-Wen. In Taiwan, this is the first political party to win three consecutive terms since the people of the democratic island country began to directly elect their president in 1996. Lai, 64, made his announcement after the two leading opposition figures conceded defeat. His running mate is the 52-year-old Hsiao Bi-khim. The result is expected to irk Beijing due to the DPP’s resistance to Chinese rule. During the campai…