I hope you are right, but the war is not yet over.

Also, the CCP might well say, "Their military has been hollowed out from within by systematic corruption, whereas ours is not" - even if it isn't so, I have no idea either way. People are delusional.

China is certain to attempt to take Taiwan one day. They have promised to do this for the last 77 years in unbroken succession.

If I were Xi, I'd wait until a US presidential election failed to get resolved (likely 2024) and then launch an attack on New Year's Eve, using overwhelming force, and being uncharacteristically careful to avoid injuring civilians.

The US, presented with a fait-accompli, and not having a clear leader, would yell a lot but not be able and wiling to mount a counterinvasion of Taiwan. If there wasn't a horrible bloodbath, the EU would then also not do anything.