China is old [1] and broke [2]. It won't be able to afford to attack Taiwan - for reference, 1930s Japan and Germany had way more young people. Japan was also rich from its empire, while Germany transitioned away from gold standard to afford its wars. 2022 Russia thought the war would end in 3 days.
Also, as we see from Russia's invasion of Ukraine, drones and missiles are effective at taking out the world's second largest navy. Taiwan has very accurate and effective homegrown missiles [3]. China would need to amass a ton of ships which would be easily detected, staff them with only sons from families, and try to move them across a 100 mile straits while under the barrage of US/Japan/Taiwan missiles and drones.
Lastly, China is quickly transitioning to state run economy much like Soviet Union [3], which means innovations and growth will be gone forever, especially in tech industries.
[1] https://www.reddit.com/media?url=https%3A%2F%2Fpreview.redd....
[2] https://www.businesstimes.com.sg/international/global/frugal... https://www.scmp.com/economy/economic-indicators/article/325...
[3] https://www.eurasiantimes.com/taiwan-smashes-chinese-warship...
[4] https://asia.nikkei.com/Business/Markets/China-s-favored-sta...