Three days after the inauguration of Taiwan’s new president, China has begun a major military exercise apparently to simulate a blockade around the island. “This is also a severe punishment for the separatist forces of Taiwan independence and a serious warning against interference and provocation by outside forces,” Chinese naval Colonel Li Xi said on Thursday. The army, navy, air force and missile forces started the exercises in the Taiwan Strait, which separates Taiwan and China, and around Taiwan. The exercises will last until Friday and are likely to be the largest in around a year. Milita…