China’s leadership continues to stress peaceful reunification under the one-China principle and “one country, two systems,” as President Xi Jinping reiterated on November 12 while marking the anniversary of Sun Yat-sen. Concurrently, People’s Liberation Army forces have sustained gray-zone pressure through routine aircraft sorties, coast guard patrols, and unannounced naval deployments—including larger “area denial” operations in the western Pacific involving the Liaoning carrier group—yet without launching the large-scale encirclement exercises seen in prior years. G7 foreign ministers highlighted these assertive eastern Taiwan activities as risks to regional stability, while internal PLA leadership purges and economic constraints further complicate major amphibious operations. These patterns of calibrated coercion alongside diplomatic continuity support trader consensus that an invasion remains unlikely through 2027.