Yeah the casino bit is the most important part for sure. In light of how financialized everything is, huge costs, massively inflated financial asset & real estate prices etc, labor costs, it's more likely for Detroit to spring back into being an industrial hub.
We focus all of our political energy on monopolizing the top of the value chain TSMC is a part of and we can't replace it with our own production bc it's so crucial for cutting costs down. They can't even expand the production for lower end chips (ROI isn't there) now so Russia and China are gonna scoop up orders from expansion in the many industries that use them (low end chips were like 20% of TSMC's revenue recently, iirc). Which will help them develop their higher end foundries which they definitely can make I mean Rosatom produces super high quality Xray mirrors and the Chinese govt won't balk at industrial investment or high tech training programs.
ASML's whole position in this convoluted supply chain means they only make those shipping container sized thingies with the rube goldberg machine of mirrors hooked up to a gallium plasma light thingy, and that ultimately limits the minimum nanometer size of the circuits made in the fabrication units they ship out. If I'm getting that right 🤪. This is really futuristic stuff I'm talking about now but the next-next gen fabrication units beyond Russia and China catching up could even be hooked up to a particle accelerator. That's pretty hard to export in the same way.
I just don't see how we can politically or financially solve these problems in the US or EU lol. We're kind of caught by the balls as workers no?
Oh also insurance prices and shit like that here are a nightmare. Legal is too obviously. That's why Nike could never just move all their production here even thought it would be trivial to teach people to make shoes. The convoluted global supply chain is the whole point