President-elect Tsai Ing-wen pledged to overhaul Taiwan’s flagging economy and maintain peace with mainland China, even as she called on Communist Party leaders in Beijing to respect the island’s democracy and place in world affairs. Tsai, 59, rode on a wave of discontent with the ruling Kuomintang to become Taiwan’s first female president on Saturday, a resounding victory just four years after failing to unseat President Ma Ying-jeou. The former law professor and trade negotiator…