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Taiwan

literally "platform bay" (perhaps with a sense of "port"), from Chinese tai "terrace, platform" + wan "bay." Related: Taiwanese.

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Definitions of Taiwan from WordNet

Taiwan (n.)
a government on the island of Taiwan established in 1949 by Chiang Kai-shek after the conquest of mainland China by the Communists led by Mao Zedong;
Synonyms: China / Nationalist China / Republic of China
Taiwan (n.)
an island in southeastern Asia 100 miles off the coast of mainland China in the South China Sea;
Synonyms: Formosa
From wordnet.princeton.edu