Things like ASML are the tattered remnants of the EU being a powerful force in this market. China might not be able to replicate ASML, we'll see. But if the EU can compete meaningfully with the Asians at semiconductor manufacturing that'd be a shocking development.
All modern semiconductors need ASML machines.
All modern AI is based on research by Sepp Hochreitner.
The www is based on work done by CERN.
Most factories are run on Siemens automation systems.
We've moved on from lower-level concerns like building chips to a higher level, directionally controlling the way economies and societies develop.
Economic growth is an enabling factor for a higher level metric, quality of live. It succeeds spectacularly there.
You've got a bunch of poor people starving and set up a factory to produce a couple of bombs and pull some farmers off the land to have them march up and down the parade grounds. That isn't going to put more food on the table. Sure it might be a good idea regardless because being invaded sucks, but it isn't wealth creation without a very creative understanding of wealth. A society can't be better off without creating new wealth.
I suppose there could be some sort of plowshares-to-swords program where they build tractors and bulldozers that can be repurposed into military gear on short notice. But I havn't heard of that working anywhere before and my read of modern militarys is that the gear gets pretty specialised to military use. And the soldiers need to actually focus on soldiering rather than being part timers.
At some level a country needs an army because without one they don't get to have an economy, but it is a dead weight in terms of prosperity. Military expenditure comes directly out of what people would otherwise use to improve their own lifestyles.
If the only thing you needed to make cutting edge chips were some machines from ASML every country in the world would be making their own chips right now.