This applies not just to the semiconductor industry but almost every industry, especially the ones that don't exist yet.
And to this list I would add: a social and economic system that provides a fertile ground for research, experimentation, immigration and entrepreneurship.
While the US has built up such advantages over the years that they can't all be lost in a manic overnight tweet storm, it's sad and a bit scary to see the current environment, which is much more hostile to all of these things.
China, with heavy state subsidies, has also proven to be pretty effective. Interestingly, it hasn't had to embrace immigration because it has over a billion people.
And all we got was higher taxes.
And severed hands.
https://www.abc.net.au/news/2026-06-06/nsw-home-invasion-gre...