The United States has bases thousands of miles away while Chinese bases are literally right there. China's capital spending on military capabilities (new + direct research & development) is almost certainly higher than the United States which is burdened by personnel spending and world spanning commitments. China can afford to focus its gigantic military preparations on a single objective; its preparations are literally mind-blowing.
As for when China will seek or threaten a military solution it depends on tradeoffs that only the leadership knows. Does China want a provocation to unify its society in a war? What margin of military superiority does it require to avoid long term economic damage to Taiwan's economic prospects? Will the world become more dependent on Taiwanese semiconductors or less? Most importantly, how does CCP view the benefits of ruling a unified China as opposed to the costs of a war?