China taking over TSMC control. How, exactly? China isn't looking to invade Taiwan any time soon, unless America puts bases in Taiwan first. And an invasion of Taiwan would immediately result in the destruction of TSMC, thus invasion is not a viable strategy to gain TSMC.
Seems to me like a scenario where a pro-china party moves Taiwan closer to China, until it is essentially re-integrated, is basically inevitable if China continues to grow at its current pace.