I wish I shared your optimism. I'm observing current government policy not being particularly forward thinking, e.g. massively subsidizing the coal industry.
We need another sputnik moment before the public will spend money on innovation.
This isn't a Democrat or Republican issue. I understand debate is constrained along party lines but the issue I'm arguing is that in the context of a contest of nations the neither party of the United States will allow the United States to lose its technological advantage. I think our sputnik moment will come in 10-15 years when the United States is the worlds #2 GDP.
[1] The China Dream: Great Power Thinking and Strategic Posture in the Post-American Era
If he reunites Korea and keeps the US economy going (and I do believe both of those things will happen), “soon” will be late 2024. For semiconductors that’s eternity. Intel and TMSC will be cranking out 5nm with high yields by then.
I am not worried about the strength of China at all. It comes with too many weaknesses. What worries me is the weakness of Europe, but not the strength of China.