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Winston Wang not declaring candidacy

TAIPEI, Taiwan -- Winston Wang, founder and chief executive officer of the Grace T.H.W. group, decided against delcaring his presidential candidacy a day after he said he had considered running for the position next year.

"There's no room for a third party in Taiwan," Winston told the press in the morning, less than 24 hours after the press had speculated he was ready to take on Kuomintang candidate Ma Ying-jeou and Ma's Democratic Progressive Party rival Frank Hsieh in the elections scheduled for March 22.

Wang and his father, who founded the Formosa Plastics group, were estranged after Winston had an extramarital affair with his former student Annie Lu.

Winston's wife Chen Ching-wen died early this year. Winston and his girlfriend have not got married, however.

"No," Winston said emphatically, "I won't run. I have no plans now to run for president."

He acknowledged many friends urged him to make a bid for the nation's highest public office. "But," he added, "there's no chance whatsoever that I could win — now. If were to run, I should be assured that I would win." Things are not going that way, Winston went on. "I won't run," he repeated.

Taipei media reported Winston would run if he could persuade his daughter Grace, who didn't want to lose her father to politics soon after her mother's death, to go along with his plan to revive the Taiwan economy within a year after he is in office. Winston didn't mention his daughter when he denied he would run for president.

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