[perennate]

You are referring to the de jure claims, which Taiwan only maintains due to pressure from the PRC. If Taiwan officially cedes these claims, the PRC would respond with economic sanctions, because the PRC wants Taiwan to continue to pretend it is another faction of the same country still fighting the civil war and not an independent country.

[seanmcdirmid]

Yes. If Taiwan decides to stop being the ROC and instead wants to be the Republic of Taiwan, that would be considered a huge escalation by the PRC. Right now, they are just two sides of a civil war, which the PRC can accept, but succession would be viewed way different.

Luckily, Taiwan can just continue with the status quo and the PRC will probably not invade it, especially when the Americans are hanging out in the Ryukyus so close by to the island.