I see the semiconductor industry becoming a bit like the auto industry. A geopolitical pawn, heavily dependent on subsidies and in turmoil due to market forces (switch to electric in cars vs. switch to ARM/RISC in semiconductors)

To be clear, the outcome we actually need here is a bulwark against the possibility of China eventually being the world's only producer of leading-edge chips.

I never thought of it that way. Are they going the way of Raythoen/Boeing?