You can think of "calling out" in a literal way as "announce." When someone "calls out" another person (or in this case, a city), it means they publicly state objection to what someone is doing, or they announce someone else's fault.
"Stopping short" of something means that someone does not follow through. It may seem like they will do something, but when it comes time to actually finish the action, they don't complete the task.
In this case, it seems that Michael Auslin is saying that "it" doesn't even come close to calling Beijing out because it "stops far short." (I'm assuming you know what "far" means.)
Let me know if you have other questions. This is a short phrase, but it has a few different sayings mixed in and it can be hard to understand sayings.