Xi Jinping is preparing to launch a “war without limits” against the West in his quest to retake Taiwan, according to a China expert.

President Xi Jinping has made no secret of his ambition to annex the island state across the Taiwan straits, as he seeks to make his mark on history.

In preparation for the grand event, the Chinese dictator is closely observing events in Ukraine, and in particular the West’s response.

And one of the key lessons he appears to have learned is the need to create a firewall that would protect China’s economy from punitive Western sanctions.

Evidence this process is already underway can be seen in China’s almost unprecedented purchase of gold in recent times, according to Matthew Henderson.

In the last 17 months alone, Beijing’s declared gold reserves have soared by 17 percent to nearly 73 million troy ounces, currently worth $170bn (£135bn).

At the same time Xi has built up China’s foreign exchange reserves to their highest level since 2015.

In an article for the Daily Telegraph, he wrote: “All in all this looks like a war chest, intended to be proof against harsh Western sanctions which, following the Ukraine model, would likely follow a Chinese invasion of Taiwan.”

He points out that Xi is also “doubling down on trusted foreign suppliers of vital raw materials for industry, energy and food, while continuing unchecked to plunder endangered natural resources across the world.”

The Chinese President is concurrently aiming to double his nuclear stockpile from 500 to 100 warheads by 2030, as well as sow havoc and confusion across the West using hybrid espionage, disinformation, influence and cyber conflict.

Mr Henderson describes all these measures as part of Beijing’s military concept of “war without limits”.

Referred to as “combat readiness” by Xi, the concept incorporates the idea of China’s eventual victory against all its rivals and enemies, heralding in the dawn of a new age of Chinese world hegemony.

In conclusion, the China expert writes: “That is why this war chest matters. It is there, like Beijing’s hypersonic missiles and nuclear weapons – not to enable an attack on Taiwan at a chosen date, but to ensure that with the balance of power changing in China’s favour, it will not be needed.

“Xi is betting on political disarray and disunity among the US and his Western allies – as displayed in Ukraine.

“And if his plans go ahead unchecked, he will be able to absorb Taiwan without a fight.”