Now that Bush is in office, it's a good deal less likely. The only thing that could really deter them is wondering what we might do in response. Keep in mind that they now have a dozen or more ICBMs targeted on American cities, which forces us to be very careful what we do. Also they could probably destroy a carrier fleet in the area with nukes, although of course that would risk a devastating counter-blow.
No one wants a nuclear exchange, so it's something of a stand-off. In that situation, as we saw with the USSR, a great deal depends on the known determination and resolve of the United States. I think our resolve is a lot better KNOWN now than it was last year. The Chinese have always suspected that we are paper tigers, but I trust they are less sure about that than they were in the days when they were paying the DNC for clinton's election campaigns.
Now that Bush is in office, it's a good deal less likely.
I expect HRC's presidential bid will get a lot of financial help from PRC related sources. With Hillary in office, I believe the PRC could take Taiwan without any interference from the USA.
America's foreign policy is subject to the current whim of the sheeple electorate. Hillary's Chinese money is probably rolling in already.