If you think covid shortages are bad, imagine a world without factories. The US is capable of devastating Chinese production infrastructure with conventional munitions. There's a non trivial chance we're going to live through (and die in) some apocalyptic level garbage before humanity finally shakes off the last vestiges of 20th century communism.

China has to stop with the encroachment and aggression. If the US reaches effective military production independence, China won't be allowed to take Taiwan, and the world goes tits up.

Also, if China attacks Taiwan's semiconductor facilities aggressively and destructively right at the exposition of a conflict, there will be no strong incentive for the US to get involved because its largest interest in Taiwan will have been demolished.