Unable to adapt to the structural transformations undergone in both sides, cross-Strait relations has met with new obstacles. They could further been strained because of the following factors: the growing gap of power between the two entities; the new nationalism resulting from the structural transformations, cooperation, and competitions under the trend of Asian regionalization; the conflict of security and economic interests; and the conflict over sovereignty. This article intends to analyze Taiwan/Mainland China relations in the wake of the emergence of new nationalism and changes in international structures.