$Taiwan Semiconductor Manufacturing(TSM)$ TSMC has 2 fabs in the PRC already. Plenty of Taiwanese engineers in Shenzhen as well. Approximately 100,000 or more.
The issue is SMIC and other domestic competitions are taking away TSMC low end business of legacy chips. Which reduces their R&D budget.
Also PRC is actively derisking their chip industry to be US independent. So less orders for TSMC since the PRC is the biggest market for chips.
Not to mention delays in the US TSMC chip fab construction.
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