I think China would have a really tough time taking Taiwan. Taiwan has a lot of ways to resist and I think Japan would join the fight even before the US.
After that China would face massive sanctions and boycotts. This would hurt them much more than Russia. Everyone needs oil and will cheat sanctions to get it. Nobody needs McDonald’s toys that much.
In addition, China gets 85% of their oil from the Persian Gulf. That could be blockaded by the US, Japan, or India and China couldn’t do anything about it unless they wanted to go nuclear.
Why do you imagine Taiwan is going to bleed out for globohomo?
The Chinese are a lot smarter than Ukrainians.
“After that China would face massive sanctions and boycotts.”
No, they wouldn’t. Maybe in the 1970s or 1980s, but not now.
They didn't have any trouble taking the United States in 2020, so they will just use the same tactics.
“In addition, China gets 85% of their oil from the Persian Gulf. That could be blockaded by the US, Japan, or India and China couldn’t do anything about it unless they wanted to go nuclear.”
This is the key point. China cannot project power into the India Ocean. Japan and the US can.
OTOH, the clock is ticking on China. Demographic crash is already happening. Their access to high end electronics is now extremely restricted. The leadership may think that their only way to stay in power is to start a war and break thru the first island chain. But suppose they succeed. That doesn’t fix demographics.