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The Global Semiconductor Industry
Semiconductors are like the most important thing in the world economy right now maybe oil but you could make a good taste for semiconductors. Almost all chip making in China requires machine tools like lithography tools from ASML other types of tools that are imported from abroad and because of that the Chinese economy is critically dependent on imported chips. The difficulty that Chinese firms have faced are twofold first is that the market is so consolidated that breaking into it requires enormous capital investment plus really new technologies. It's just hard to break into new markets when it comes to the chip industry.