Claims

Open source software and regulatory clarity are the best ways for countries to create new innovation hubs (new Silicon Valleys), more than free office space or direct funding.

The United States subsidizes the chip industry at rates far lower than most major competitors: less than 1 percent of revenues compared to 10 percent in Japan, 3-4 percent in Taiwan, and 20-40 percent in China, making the U.S. far less interventionist in chip industry subsidization than its major competitors.

China has pursued semiconductor self-sufficiency for 25-30 years, and export controls would not represent anything new but merely an intensification of ongoing efforts that China has doubled down on several times already with diminishing returns, so the medium-term likely outcome is that if allies and partners (Taiwan, Japan, Korea, and Europeans) cooperate with U.S. export controls, China will fail to reach its goals in advanced semiconductor manufacturing nodes.