I'm starting to think so as well. The Chinese are typically cautious geopolitically, and very strategic. They may well have made the calculus that for the foreseeable future, they have more to gain from keeping the status quo re Taiwan while their rivals score own goals, waiting for a possible rapprochement with Taiwan on favorable terms.

That's something the factions in the Middle East miss: sometimes great change comes from patiently applying pressure and infiltrating from within, rather than a frontal attack.