Alternatively, China could make progress fabricating and exporting its own chips and designing its own GPUs. The entire chip sector could go the way of solar panels and EVs with prices dropping and margins collapsing to near zero.

Yup, they're also like 5-10 years out from their own lithography machines as well. China wanted Taiwan before TSMC was a thing, by the time they take Taiwan back they won't need TSMC.