Comment by UncleOxidant

I'm saying that the Chinese government has determined that semiconductors are strategically important and is willing to pour yuan into fabs and developing their own process equipment industry. Semiconductor manufacturing is a very capital intensive business and the short-term market view in the West isn't well suited to remaining competitive in that space. Silicon Valley has very little to do with silicon anymore because our markets decided to pour money into other areas where the payoff is quicker.