Due to the incident of gunshot wound, Chen Shui-bian was reelected by marginal votes of less-than-30000 in Presidential Election of 2004. According to the past four- year experiences, the prospect of ameliorating cross-strait relations under Chen's leadership seems to be doomed. This paper argues that the premise of reconciliation between Mainland China and Taiwan is the mutual trust. In addition to the establishment of mutual trust between two sides, one key factor in improving the cross-strait relations is the demystification of the concept of sovereignty. Besides, the role played by U.S. in triangle relations among China, Taiwan and U.S.A is at most to maintain the status quo. In fact, the reconciliation between China and Taiwan depends completely on both sides: trust building. The paper consists of nine parts: (1) Preface; (2) The meaning of risk; (3) Lee Teng-Hei's risk game; (4) Chen Shui-bian's risk strategies; (5) The strategy of Southward Policy; (6) The meaning and building of trust; (7) The myth of sovereignty and its anatomy; (8) the U.S. role; and (9) Conclusion.