According to the information we have gathered on international and regional conflicts, we can see that China is increasingly shifting its attention to the world stage. Conversely, Russia seems to be more and more interested in Europe only. I will say that, if China sees a lack of concerted efforts among Western allies, it could certainly attempt bolder action in Hong Kong or Taiwan.
We must take into account that the USA's allies in the region, including Japan and South Korea, do not have the same commitment as the one in article 5 of the North Atlantic Treaty. However, European countries are more committed to one another, given the myriad of defence and security situations at play.
In comparison, China is in a part of the world where there are fewer global powers. For example, the Association of Southeast Asian Nations doesn't really have a strong defence identity. In Europe, NATO does, which makes all the difference. It also has the ability and the willingness to take action.
Even if other countries want to foster a defence identity, they lack the will. I have observed that no countries in Asia really want to stand out and coordinate a defence, or something better organized, in the face of China. What I'm saying is that it ends up being all about risk assessment. Those countries calculate the risks of each of their actions and weigh them against the necessity of maintaining their trade relationships.