I expect China to eventually develop or sidestep EUV lithography. When that happens it’s over.

It will also crash the price of chips globally. These high prices are kind of artificially buoyed by the fact that China can’t obtain ASML machines. This keeps China’s vast proven ability to scale manufacturing off the playing field.

This is so clearly the Chinese century. Doesn’t mean the US, EU, etc become backwaters. England was a huge influence on the 20th century. It does mean that China will drive tech and the global economy forward.