But China is ahead of both South Korea and Taiwan in terms of chip equipment, no?
Taiwan in particular is a highly specialized and skilled user or tools, but doesn't produce the bloomeries that smelt and refine the iron, nor does it have the forges that makes the hammers, chisels, and pincers to use a metallurgical processing analogy. This isn't absolute, but you get my drift...
China can do everything to at least an intermediate degree in semiconductors and IC chips materials and tech, from smelting silicon and producing wafers, through to producing photoresists, making of the photomasks, etching, deposition etc except for satisfactory DUV machines.