I follow Paul Warburg on youtube rather closely. In this video he does the best summary in detail of both the stratefic situation re:China threat, criticality of availability in significant volume and not too high price, and the basics of chip fab economics, all with meticulous reference to POTUS policy both Biden and current.
Good stuff starts at about 5:35, after his advert.
Of all the wild pendant problems METARites might find tipping unstoppably in some trend relevant to war, planet interventions, actual vs only apparent resource shortages, I think the crux matters of the decade will rank the capacity to have and even control the manufacture high end chip fabs.