[e40]

Simple, they invade and TSMC blows up their factories. Or, the invasion is successful and they control the factories.

I didn't say it was likely, but one of these two outcomes is possible.

[bearjaws]

If China has proven one thing, they can just rebuild the factories, sure it will be 5-8 years of depression but afterwards they will control a dominate player.

[Lorin]

That's assuming ASML and co would even supply the required tech should that happen.