ASML has a virtual monopoly on lithography. It would be interesting to see how the Chinese tech companies would react if the US government also pressures Taiwan's TSMC to cut off supply to mainland China. If China wants to develop their own processors, they should also develop their own lithography. I know it would require tens of billions and many years of research stretching over 1 - 2 decades (minimal). EUV is not easily copied without foreign aid. China doesn't have allies that can help them in this. All chip manufacturing for modern CPUs, GPUs, and most high performance FPGAs (both x86 and ARM) is done in Korea, Canada, USA, Taiwan, and Isreal. The equipment all of them use is from ASML in the Netherlands. A 29 billion dollar fund won't get them anywhere close to being competitive with the rest of the world. Stuff like this will make us lose several years of technological progress. Imagine if Europe knew about paper and printing centuries earlier like China did. Now even 5 years is a huge difference.