For 350 years, between the two main systems of thoughts in contemporary international relations, realism and liberalism, the former has dominated the development of international power politics, while it was in the late 20th century that the latter, liberalism, began to emerge to have great impact. For a while, liberalism looked promising. However, in the early 21st century, it seemed to have run out of steam. With the rise and threat of China and caught in the midst of realism and liberalism as well as in the betwixt of the US and China, Taiwan, despite success in democratization, is under increasing pressure and finds itself difficult to survive4 in the international community. How to become a normal sovereign country and a legitimate player n world politics is now the most serious challenge to Taiwan.