In general terms, the key goals at European level should be to reinforce the reality and perception of Taiwan’s liberal democracy abroad, to develop both commercial and investment-oriented bilateral economic relations in key sectors (like semiconductors and information technology). Channels for sharing intelligence about the domestic situation in the People’s Republic of China should be kept open. And lastly, the participation of Taiwan in international fora such as the WHO needs to be enhanced.
From a Portuguese point of view, these goals are not easy to achieve given the depth and diversification of Chinese investment in the Portuguese economy, the peculiar situation of Macao and China’s presence in Portuguese-speaking countries.
Nevertheless, we have witnessed an evolution in Portuguese foreign policy towards China in recent years. This evolution is in tandem with the European Union’s emphasis on diversification of supply chains, reaching out to other Asian countries such as India, concerns about Huawei's involvement in 5G-licence auctions and controversies surrounding China's acquisitions of the second container terminal at the port of Sines, among others.
There are special factors that shape Portugal’s relationship with China – namely, Macao and the illusions regarding the upholding of the “one country, two systems” (remaining strong among the generation of Portuguese that lived there). But if push came to shove and Beijing toughened its rhetoric or actions towards Taiwan, Lisbon will not stand in the way of a common transatlantic approach or a unified EU stance.