HONG KONG — For the past eight years, the Chinese government has showered its former enemies in Taiwan with economic gifts: direct flights, commercial deals, even an undersea water pipeline. Trade is up more than 50 percent, and mainland tourists, once barred from traveling to the island, now arrive in droves, nearly four million last year alone.

But Beijing has discovered, again, that money cannot buy love.

In Taiwan last year, large protests broke out against an agreement to expand trade with the mainland, and the governing Kuomintang, or Nationalist Party, which favors closer ties with China, has plummeted in popularity and is widely expected to lose the presidency and possibly the legislature in January elections.

Now, the Chinese president, Xi Jinping, has agreed to meet the president of Taiwan, Ma Ying-jeou — the first meeting between the leader of the Republic of China, the government that fled to Taiwan after losing a civil war in 1949, and the leader of the People’s Republic of China, established on the mainland by Mao’s victorious Communists.

The encounter, scheduled to take place on neutral ground in Singapore on Saturday, will be trumpeted by both sides as a milestone in cross-strait relations. But it also seems to be an implicit acknowledgment by Mr. Xi that the Chinese effort to woo Taiwan with economic benefits alone has been unsuccessful — and that Beijing’s dream of unification with the island is as distant as ever, despite a long courtship.