Why would they give up on this “charade” as you put it? They’re closer than ever to annexing Taiwan in 2021. They hold every card.
- Diplomatic advantage. Only 14 tiny, inconsequential countries + the Vatican recognise Taiwan as a country. Everyone else acknowledges that there is “One China”.
- Military advantage. Taiwan struggles to man their military. In any case the investment in the PLA in the last 10 years means no military can stand up to it except for America. Except America is at peak war weariness with the shambolic withdrawal from Afghanistan. They’re comfortable with Sabre rattling but it’s clear they won’t draw the sabre from the scabbard.
- Economic advantage. Every country in the world needs China. China doesn’t need any single country. See how they bullied Australia and Canada successfully. This dependence on China is at an all time high. It could maybe diminish, but it’s unlikely.
And Taiwan is a more compelling prize than ever.
- Political incentive. The leader who integrates Taiwan will enjoy unquestioned power for the rest of their life. Xi Jinping is often described as the strongest leader of China since Mao. This would be his opportunity to become more powerful than Mao by doing something he couldn’t. Unify China and importantly, face down America and show the world who’s #1.
- Economic incentive. 2020 and 2021 has made the world realise exactly how important Taiwan is to the world economy. TSMC in particular the most pivotal supplier for most of the worlds critical industries. If Taiwan could be annexed and TSMC brought under state control, China would have a bargaining chip of unparalleled power.