I think a major hurdle is, who is willing to sell new aircraft to Taiwan without risking a bumpy relation with China, especially an economic one given China is now a credible alternate engine for the world's economy? No doubt the French would be happy to sell but not when it risks her economic relations with China. Would the US be willing to include Taiwan into the F-35 program? Doubtful. The US could stand the heat but that would make the "pivot" become a full blown Cold War II. Russia usually sells to just about anyone but not sure how receptive that deal would be to both sides, Russia is an on/off ally to China and Taiwan to the US.
It would seem the only viable alternate would be to develop an IDF-II but can she pour in the R&D dollars needed?
IMO India could have been a potential exporter, considering that China does sell to Pakistan. "Could have been", but no. India lacks domestic fighter, fighter engine, and SSK products that TW would consider importing. Between HAL Tejas and F-16's I think TW would lean heavily toward F-16.
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