Taiwan Invasion? Well Theoretically Yes But Practically No.

The PRC is great at bluff and bluster and is increasingly prepared to back it up with war games where Taiwan has either been encircled or blockaded. Looks great and is intimidating, but don't ever bet your last dollar on invasion. Why? Frankly, there's probably nothing Xi Jinping would like more than to see the Taiwanese bow to the inevitable, where the renegade province would be integrated into the PRC. But Taiwan isn't going for that, hence the increasing intimidation and tension in the region.

Realistically, could China take Taiwan militarily in 2024? The odds are probably better than 50-50 now, but Xi is no fool. It's one thing to take the island. It's quite another to hold it. That's the PRC's Achilles' heel, and everyone knows it. 

The United States would have no choice but to come to Taiwan's aid.  A Major Non-NATO Ally. And Beijing is perfectly aware of that. There is no great fervour to come to Taiwan's assistance, but diplomacy and defence policy are a strange thing. It's sort of what will Beijing do next in the region if they take Taiwan and there are no military consequences? Sanctions simply can't do that job. 

One would expect that the major English-speaking democracies would not let the United States bear the military burden alone. Again, something that Xi likely already knows. That would lead to out-of-control time for the PRC and would not necessarily work to its ultimate military advantage.

Look to Putin in Ukraine, who holds or buffers Ukrainian territory and yet is now quietly suing for peace. It's a realistic demonstration of what could be in store for China were they to engage in military adventurism in East Asia. You can drag Taiwan into the PRC, but you can't make them drink. One more reason for Xi to hedge his most promising military bets, as most if not all occupations never end well for the aggressor. Xi also knows that.