Sanctions on letting them buy chips 1. reduced available R&D money for US competitors by reducing their revenue and 2. raised the local price to monopoly prices, creating a great reward for the first local manufacturer to achieve parity.
If you want to see effective de-industrialization, look at what happens to US industry when China applies the opposite of sanctions (subsidies).
Adam Smith figured out that mercantilism is inherently self-defeating over two hundred years ago. Maybe nation-states will catch up in the next few centuries.
If you want to see effective de-industrialization, look at what happens to US industry when China applies the opposite of sanctions (subsidies).
Adam Smith figured out that mercantilism is inherently self-defeating over two hundred years ago. Maybe nation-states will catch up in the next few centuries.