The US Strategy Is to Cut China Out of the International Supply Chain

It's basically a race, it seems to me, between the US and China as to who can onshore sophisticated chip production fastest. I think that's how China sees it... The US sees it slightly differently because the US is capable of producing advanced chips not on its own but in cooperation with other countries. It's only by acquiring software, designs, machine tools, materials from all of those countries that you can make an advanced chip. And so the US strategy is not to create a self-sufficient sphere, but rather cut China out of the international supply chain.