If China wants to decimate the global economy back to the pre-40's era, take out the fabs.
TMCI is just starting to expand production outside of Taiwan but right now those Taiwanese fabs are absolutely vital to the west. There is no ready replacement.
If the WH can't hold the Chinese off until 2024 they will lose the Taiwan war, lose the economy, lose the election, and perhaps lose the country.
So Taiwan isn't really that important.