>>China is the actual opponent, if there must be one.

Agreed - but I don't think China will outlast the decade. I'm sticking my reasoning in a response to this to make it easy to skip.

That doesn't mean they can't do massive damage before their ship goes down, most probably invading Taiwan. I don't think they can take over TSMC and run it for various reasons (primary one being that the fabs will be rubble and twisted steel) but they could persuade themselves that it might work and so be a kind of Hail Mary.