Yes ok. Then US retaliates by further targeting Chinese industrial capacity to end China’s ability to supply those attacks against Us bases.
Even under that scenario, the damages will still be limited to the 2nd island chain. Most of the destruction will be around Asia.
China knows what you know and it knows that a limited war in Asia is extremely beneficial to the US. Taiwan is the matter on which China cannot back down from so if the US begins to successfully strike the Chinese mainland to take out the Chinese industrial capacity, China's choice is to lose or escalate into a nuclear conflict and strike all over the US. China can't lose a conflict over Taiwan even if the world has to end.
The US should know too that if it strikes the Chinese industrial base, then it's all out war. No holds barred; striking at another countries' factories is not the same as attacking their military assets in a contained conflict. China will not allow itself to be in a situation where it is taking such damage without inflicting damage back when they
have the ability to strike back so the US should know that if you launch missile strikes on the Chinese mainland, you might as well just lob nukes because that's what's likely to come back.
If a Taiwan conflict doesn't evolve into all out nuclear war, it's likely to remain contained to attacking each other's military assets that are on missions.