China can't afford a war with their biggest customer. They also can't afford a war with a country they bought so much debt from.
Without computer chips in play, the United States could look the other way if China invaded Taiwan. It wouldn't be the first time the United States allowed smaller countries to be occupied as part of a larger deal.
That would be a huge mistake on the part of the US. If China controls Taiwan, they control the major sea route in the world. Doesn't matter if the US has a chip plant. If you can't get the raw materials to supply the plant, the plant is useless. The chip issue is a red herring. The main reason China wants Taiwan is to have a permanent "aircraft carrier" in the South China sea.
Ret. Col. John Mills: China’s Seizing Control of Global Trade Canals