How many atoms does it take to build an electronic transistor?
How many atoms does it take to build a photonic gate?
How many atoms wide toms wide does an electronic or photonic trace need to be to be stable?
If we use the absolute minimum number of atoms, what will the failure rate be over what duration?
What is the minimum dimensions of a stable semiconducting lattice?
All semiconductor fabs in the world will reach these limits in the near future. All other advances will be related to more efficient stacking, cooling, use of newer materials, etc...
Unless we can reliably go subatomic we're at the end of the road. No companies (or countries) will have any advantage due to transistor, trace, inductor, insulator size. Packaging, yield, etc... Will be the deciding factors.
Within 5-10 years, Chinese companies will commoditize chip fabs and companies using western tech that cost billions will have to compete with companies all across the world able to deliver similar tech using fabs that cost a hundred million or less.
Don't forget, patents are royalties paid by companies who use other companies' tech. When Trump and Biden restricted that tech to China, they effectively blocked western companies from licensing their tech to China and blocked China from paying those patents. So, China can build all of these technologies relatively patent free.
In the short term, fabs make sense. But many of these fans won't be worth much once anyone can buy a leading edge fab for a hundredth of the price.