>>So, they are bringing key manufacturing technology home.

There's been a lot of that (re-shoring) going on - particularly away from China due to both the rising labor cost and China's zero-Covid policy shutting off ports. Even Apple, the China die-hard, is starting to move...

As regards China taking over TSMC fabs, I recently learned that there is a single mine in the world that produces material suitable for chip quality ('ten nines') silicon. It's in North Carolina.

No super-pure silicon, no crystals. No crystals, no wafers, no wafers, no point in owning one of the TSMC chip fabs.

Other than silicon, germanium and gallium arsenide are used as semiconductors, but I'm pretty sure (maybe someone who knows better can correct me?) the TSMC fabs all use silicon wafers.

Aaaand I checked online: Intel still has most of its production in the US (some in Israel, some in Germany).

Disclaimer: not an EE, but was tracking all this for a few years, back when CPU/memory speed was a substantial factor in software design. What they are doing in a chip fab is essentially the same thing you did back in high school in print shop (silk-screening), but the traces are a fraction of the wavelength of visible light, so it's hard.