China launches large-scale drills around Taiwan.

Yeah, but those are more defensive, can't really use them on the offense effectively.

Missiles are good if you can back them up with actual metal to take the area you just pushed the enemy out of, otherwise they just hide out of range.

With missiles the US is way the hell out of range of basically everything, while Taiwan is in range of hitting the mainland, which is unpleasant for both China and Taiwan, but means any aggressive by China can be very painful.