Until recently, the same applied to China. It was the Huawei bans in 2019 that gave initial incentive and momentum to develop complete supply chains for chips. But even that didn't rally the country to action. Not until the 2022 bans from Biden that affected the entire Chinese technology industry, did Chinese companies get serious about the need to be self-reliant.
Blame it on historical short-term thinking and greed from Chinese electronics makers, if you will; but practically speaking, it isn't like China had the ability to actually invest heavily in this twenty years ago, or even ten years ago - its industries were still immature, it didn't have enough capital, and there were too many lower hanging fruits.
This is why I believe the US embargo on chips was planned well in advance, as opposed to being a knee jerk reaction to Huawei spying or its violation of US sanctions on Iran decades ago, as mainstream media would have you believe. The US was always going to suppress China, but they wanted to profit for as long as possible and weren't sure how long it'd take for China to get its house in order. It was Xi's Made in China 2025 campaign and tangible progress in China's technological development that caused the US to act. Their analysts saw the acceleration of China's technological achievements and knew it was "now or never."
Basically, the US was waiting for China to prove that it can actually innovate, because if it couldn't, then the US would've been able to profit off of China forever and basically treat it like a drug addict.
But China proved that it can innovate, so the US cracked down because it saw its own technological empire threatened.
