Federal Republic of China Flag

Flag for a Scenario where China and Taiwan are able to reunite peacefully under a federal republican form of government. Reunited, a surge of patriotism and economic growth has griped both sides of the strait. Relations with the U.S and neighboring countries have approved, though the FRC is starting to assert itself more on the world stage. Despite this growth and optimism, issues remain. Inequality, though less than in OTL, is still a major issue. In addition, while major separatist movements in Xinjiang and Tibet are going along with the federal structure for now, it remains to be seen wheather that will continue.

Now we move on to the flag itself. The Canton, the 5-star PRC symbol in the colors of the ROC Canton, represents the coexistence of the two parties. The colors hearken back to the historical "Five Races under One Union Flag," with each color representing some of the largest ethnic groups in China:
Red-Han
Manchus-Yellow
Mongols-Blue
Hui (and Muslim Chinese in general)-White
Tibetans-Black 

Made in paint

Update: Filled in some spaces in the original.