The declaration also set three basic objectives: establish a new state with a new government, create a new constitution and join the UN as a new nation.
"Having agreed on the final draft after so many months of discussion and debate, we were exhilarated, filled with a sense of success, but conscious that now we were on a dangerous path," Peng wrote in the memoir.
Peng was in exile in the US until 1992 when he returned to Taiwan.
A native of Taichung County, 81-year old Peng is now a senior advisor to President Chen.
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