Annexation can take place with the direct threat of extreme violence but without a shot being fired, a la Hitler's "Anschluss" of 1938. Under the terms of the

Annexation can take place with the direct threat of extreme violence but without a shot being fired, a la Hitler's "Anschluss" of 1938. Under the terms of the 1997 Hong Kong handover, China allowed some institutions to be preserved (albeit greatly watered down) while permitting foreign companies to continue operations and have better access to the larger market (mainland China). Beijing regularly trots out this "One Country, Two Systems" model for Taiwan, something that many Taiwanese reject (recent survey results: https://www.taiwannews.com.tw/en/news/3663870 https://www.taiwannews.com.tw/en/news/3663870) I agree with your second point. Positioning Taiwan as a center of Asian operations is something Taipei actively promoted in the late 1990s as Hong Kong waned as an international center of business. It never took off then, but I hope it can get some traction now.