Formosa... Taiwan has a long history.
sometimes under European control sometimes under Chines and sometimes under Japanese impartial control.
The original indigenous inhabitants make up a very small minority of the population. From the late 19th century until the end of the second world war it is controlled by the Japanese empire. After which the rump of the defeated Chinese forces and their supporters took control.
China has never given up their claim on Taiwan, though they have historically had difficulty maintain control over it.
Even Japan had difficulty administering it, with half of it referred to as the savage district.
since WW2 the nationalists have governed Taiwan.
With the rise of China as a world power second only to the USA, and with the certain prospect of China taking over from them in perhaps less than 30 years. There is little doubt that Taiwan will eventually be reabsorbed into the Chines fold once again.
Much like Hong Kong, and Macau and Tibet.
However China is in no hurry, it almost certainly wants that process to occur with as little damage and loss of value as possible. The reality is that America could not defend Taiwan in the event of a Chines take over. The only beneficiaries of the present supply of arms is to the Arms manufacturers.
At the present time both the Chines and American forces neutralise each other in any reasonable projection of war. However the growth and advancement of the Chines forces. is projected to overwhelm those of the USA, in all respects, in around twenty to thirty years.
China has the distinct advantage of very long term thinking and planning. Something the USA with its four year leadership cycle is incapable of. China also had the advantage of a very rapidly growing economy, research, scientific and manufacturing base, to support those plans.. The USA by contrast, is even struggling to maintain it infrastructure and manufacturing ability at all. Its bank of intellectual property rights are rapidly reaching their sell by dates, and patent protections. Not that such things have any meaning in a war footing.
It would make far more sense for the USA to enter into friendly completion with China. rather than force China to fill in its Scientific and technological gaps. But it may be too late for that, as the USA has already shown its hand by black listing many Chinese companies and restricting the sale of American technology solutions. China will already have laid out plans and strategies and started to fill those gaps.
The USA on the other hand is still reliant on China for many key products and materials.