HMM: Taiwan’s Tech King to Nancy Pelosi: U.S. Is in Over Its Head.

Chang, the 91-year-old founder of the chipmaking goliath TSMC, used a luncheon at Taiwan’s presidential palace to deliver a biting soliloquy to Pelosi and other visiting American lawmakers about the new industrial policy emerging in the United States. In comments that have not previously been reported in detail, Chang took aim at the CHIPS and Science Act and its $52 billion package of subsidies for semiconductor manufacturing.
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With Taiwan’s president, Tsai Ing-wen, looking on, the billionaire entrepreneur pressed Pelosi with sobering questions about the CHIPS law — and whether the policy represented a genuine commitment to supporting advanced industry or an impulsive attempt by the United States to seize a piece of a lucrative global market.

Chang said he was pleased that his company could benefit from the subsidies; TSMC already had a major development project underway in Arizona. But did the United States really think it could buy itself a powerhouse chipmaking industry, just like that?

To be fair, we used to have one. But Intel infamously took a pass on powering the original iPhone, and ended up ceding the entire silicon growth sector — low-power/high-efficiency mobile CPUs — to rivals like Taiwan Semi and Samsung.