> China is already catching up.

Sure of course, just like COMAC vs Airbus/Boeing, BYD vs Western EVs etc.

But this is a bit different IMHO.

First there's still a lot of catching-up to do.

And second are they going to be able to gain sufficient marketshare in the Western market ? I am thinking here, both in terms of displacing ASML and in terms of Western companies being willing to depend on Chinese tech for such critical activities.