There is no flag in the encoding. Instead, there are codepoints for each of ISO 3166-1's "Codes for the representation of names of countries and their subdivisions": https://en.wikipedia.org/wiki/ISO_3166-1
Both the People's Republic of China and the Republic of China agree that there exists an entity called "Taiwan, Province of China" (TW). They have different views about what that entity's flag is (and many other things about that entity), but Unicode doesn't offer any opinions on that.
There is no flag in the encoding. Instead, there are codepoints for each of ISO 3166-1's "Codes for the representation of names of countries and their subdivisions": https://en.wikipedia.org/wiki/ISO_3166-1
Both the People's Republic of China and the Republic of China agree that there exists an entity called "Taiwan, Province of China" (TW). They have different views about what that entity's flag is (and many other things about that entity), but Unicode doesn't offer any opinions on that.