There is a rearrangement in the global power structure now under way.
Imho, the NATO led destruction of basically modern leaders such as Qaddafi and Saddam has simply accelerated the process, bringing fundamentalist thugs to the fore.
Reality is that Taiwan and Korea between them have about half the world's microelectronics capacity, with the US at an eight, lagging Japan's sixth.
Other than that the US still dominated the military and financial links, it is becoming a peripheral player.
I think the Chinese are very pragmatic, when it serves Taiwan to embrace Beijing, they will, despite the touching faith Americans appear to have in Taiwan's desire to be a cats paw.
For now, there is no benefit to China to provoke a real conflict. They have plenty of US money to build global dependencies, thanks to their massive trade surplus. Looking ahead a few decades, they should be hugely dominant, so why rush?