Technology
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Why did anyone think otherwise?
sinophobia mostly, think people who breathlessly watch the "china will collapse in 2 hours!?!?!" clickbait videos every time it pops up in their recommended and believe it every time
It's not sinophobia. Neither the EU nor the US can manufacture high tech chips, which is why they are sucking TSMC's dick in order to make some chip fabs in their territory. It's extremely hard and expensive to develop(or start developing) this. It's literally the most technologically advanced thing humans make.
And even TSMC relies on western companies all over their world for the manufacturing of their tools and tech. But since China does not have that luxury, they have to make everything from scratch and that is extremely hard. I am still not convinced China can make 7nm but remains to be seen.