Let me try to understand something: China consumes more than 50 pct of semiconductors manufactured in the world. It is, therefore, the most important client of any foundry.
China is now making a huge effort to become self sufficient and is pouring billions and billions of dollars for that matter.
It makes sense for China to invest such humongous amounts of cash in the industry, after all it will be simply replacing imports.
The US is now also alledgedly pouring billions of dollars in order to "onshore"production of chips.
Questions:
a) who are the US going to sell that additional production to?
b) who is TSMC going to sell chips to?
c) why is TSMC still investing in fixed assets outside of China?