Hong Kong appears lost. But Taiwan is defendable. China would be hard pressed to take over the island logistically and the US can defend by air and sea. Okinawa would be virtually impossible for China to take. If they did, China would be on the way to taking over the whole world.
You don't understand a thing about China, its history, and what its end game. If you think, China wants to rule the World, you really are in the wrong century.
I don't think any of the large powers, of the planet today, wants to be responsible for so many diverse populations. You really think China wants to be like the US empire and govern a population, who really don't have anything in common, other than greed?
The only people who salivates for empire today are the ultrawealthy, so they can legally exploit the poor and have-nots through debt slavery.