I shouldn't be too upset with the Euros deciding to sell arms to China. After all, in a macro sense, weapons are secondary to the training of the military using them. But China is different from Syria. China can reverse engineer what they buy. Plus, imported weapons give China new capabilities that could delay a US response to defending Taiwan. And even though in a long war I'd be sure we could win; in a war with another nuclear power, the fate of Taiwan may be secondary to ending the crisis before escalation. We may need to win quickly or not at all at a price worth paying. European (and Russian) arms could make the difference.
Just as important, is what it shows about our friends in Europe. They don't care that our military will pay the price in blood in a war with China. They don't care that their weapons could be used to enslave a nation that is now free.
If Iran wasn't a threat to us as well, it would be satisfying to let Iran go nuclear and wish the Euros good luck.
In contrast, recall Japan's decision to openly side with us over a Chinese threat to Taiwan. Japan didn't have to do this. They know very well that we'd defend Taiwan even without Japan's help. Japan's decision was the act of a friend and ally.
And if the Euros want customers for their arms manufacturers, why don't they buy some of their weapons for their own atrophying militaries? At least in continental hands, we'd be sure they'll never be fired in anger.