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I’m not convinced the CCP has to be bad news for the latter. The CCP has a very economistic mindset when it comes to dealing with internal strife within China. As such, I think they would potentially settle for an economic union with certain security guarantees which would allow Taiwan to remain politically independent.
The most pragmatic solution is to recognize Taiwan's independence and pledge to protect it if they're invaded. There is no logical reason to pursue unification if people in Taiwan don't want it. If this economic union would be like the EU, where states are still independent countries, I'm in favor of it -- provided Taiwan is willingly wanting to join it.
The problem with pursuing full independence is that not all Taiwanese people currently want the island to be a separate country given the deep cultural, familial, and economic ties they have to the mainland. That of course doesn’t mean those who are against independence trust the CCP. Unfortunately I think that nuance gets lost in western media.
Put it to a vote, and go with what the highest percentage wants. Do it like a democracy.
The Taiwanese government would have to negotiate those terms with the mainland before any such referendum could happen. However, that’s unlikely to occur in the near term if the DPP, which is the “pro independence” party, wins the upcoming presidential elections. When combined, parties interested in negotiating with the mainland are polling higher than them. However, the DPP maintains a a slight lead with a plurality of support. Needless to say it’s a complicated situation. I doubt the issue of Taiwan’s future will be resolved anytime soon.