Yes I am aware. Which means that if China takes over political control of Taiwan and says, "We will still sell chips just like normal to everyone except the US".

Would the rest of the world decide to go to war with China for the political freedom of Taiwan?

What makes you think the Taiwanese will hand over the chip producing facitilies to the invader?

Taiwan will burn (explosive demolition) the fabs before China gets them. This is baked into their defense plan and made known to China.