From Asia Times:
Taiwan’s bid for United Nations membership has again been rejected, action that was hailed by Beijing as a reaffirmation of the “one China” position and its claim of sovereignty over the island. However, the situation remains tenuous.
Taiwan’s attempts for UN membership began in 1993 when the government of president Lee Teng-hui sought a seat in the international body under the name of the Republic of China (ROC). But this time the Chen Shui-bian administration sought to enter under the name “Taiwan”, a provocative move that has incurred strong condemnation and even strong warnings from Washington. Even the Nationalist (Kuomintang) party, not to be outdone by Chen, called for its own referendum to return to the UN under the name “Republic of China”. [Full Text]