In the process of Taiwan's democratization, ethnic and national identities not only have become the most important issues in party competition, but also have dramatically caused social uneasiness and conflicts. Nonetheless, the increasing gap between the identification with Taiwanese and that with Taiwan brings up the question, "what exactly do people mean when they say that they are Taiwanese/Chinese?" Conventional survey questions that simply ask respondents whether they consider themselves Taiwanese, Chinese or both and that measure their attitude toward unification-independence by asking them to select a number between unification (0) and independence (10) cannot precisely capture citizens' national identity. Moreover, since the meaning of words is intimately tied to their use within a specific socio-temporal context, the meaning of these terms should also change over time. In order to dynamically examine the extent to which and how the contexts of “China/Chinese” and “Taiwan/Taiwanese” change over time, we first collected political news from news archives of the United Daily News. We then developed a model to dynamically estimate correlations among lexicons based on their context. Our analysis show that the usages of “China/Chinese” and “Taiwan/Taiwanese” were significantly influenced by the changing political environment such as the Taiwan Relations Act in 1979, the lift of Martial Law in 1987, Lee Teng-hui’s inauguration in 1988, and Chen Shui-bian’s abolishment of National Unification Guidelines all exerted dramatic impacts on the uses of “China/Chinese” and “Taiwan/Taiwanese”.