China is steadily funding Fab R&D. They already managed to get from zero to somewhat modern ram and NAND (YMTC). YMTC is bad https://goughlui.com/2023/10/10/psa-ssds-with-ymtc-flash-pro..., but _very_ cheap so eventually will improve and start taking over more and more volume. In couple of years China will get to the point erasing UMC/TSMC does give them advantage.