The miracle of the Chinese Economy (and, really, all the BRICS countries) has been their willingness to educate and industrialize their population.

Yeah, it takes a ton of R&D, but when you’ve got 1.4B people you’re going to sift out a few who can get the job done. India’s Tata is already building their own semiconductor facilities. Brazil’s semiconductor sector has been struggling to break into the global market for… decades. Russia’s so sanctioned that they’ve got no choice but to go in-house. South Africa is finally building industrial facilities to match their role in the raw materials supply chain.

I would suspect this crunch in the global market is going to incentivize a ton of international investment in manufacturing entirely to meet domestic demand. And heaven help us all if there’s an actual flashpoint in the Pacific Rim, because that’ll shut down the transit that companies like TSM and Broadcomm need to produce at current scales.

I just wouldn’t hold my breath, especially under the current protectionist political environment. You’re not going to be buying outside of the US sphere of influence any time soon.