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One phone call from President Xi would end Russia's war, Finnish president says
(kyivindependent.com)
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You forgot Taiwan. As Zipitidew said below, China is happy that NATO is sending so much material to Ukraine that they cannot send to Taiwan in the event of an invasion. My guess is they are not ready yet, otherwise the start of the war in ukraine and in Israel would have both been good moments to start their, when everyone is occupied with other affairs.
A war over Taiwan would at first be a naval conflict. Ukraine does not need many anti ship weapons and does not get many as well. Those factories are mainly free.
For many other systems the West is running at capacity and increasing it. Air defence missiles for example. Taiwan has Patriot and it would only be a matter of moving production to Ukraine to Taiwan instead to make it work. The West has jets, so there are other options of winning the air war. Ukraine currently gets F-16. So no longer as much needed and maybe the Europeans could intervene with a few jets, if need be. Similar story for a lot of other weapon systems. Increased production in Europe, which can be delivered to Taiwan.
Then you have use of weapons. It is much more likely that Taiwan will be allowed to strike China right away. No discussion as we saw in Ukraine.
Also yes China is not ready. They have to win the naval war and then be able to land. Invading Taiwan is much harder then invading Ukraine over what is flat open ground.
You are probably right. Still, I guess China would count on pubblic perception being against fighting for different foreign countries at the same time. People don't like war and if you want to start a war you want to make sure the allies of your enemies are as less likely as possible to intervene. Of course that does not consider the incredible strategic importance of Taiwan