China Warns Taiwan, With an Eye on Rest of the World

BEIJING—China is attempting to balance its fury over Taiwan with a desire to play the role of global peacemaker—a delicate two-step that comes as China seeks to sustain a burst of diplomatic momentum and establish itself as a new global counterbalance to Washington.

By sending an aircraft carrier toward Taiwan and launching live-fire exercises, Beijing wants to send a stern message to Taipei after a groundbreaking U.S. meeting. But so far, it has held off on a more aggressive show of force that could tarnish its bona fides as a benign and responsible global power.