The infrastructure is critical for all goods manufactured in China. It’s a genuine competitive advantage. Not to knock India, but a downside to having the worlds largest democracy is that pushing through needed upgrades is challenging to say the least.

Fab plants are an input and could be an issue given US sanctions but China is now the manufacturing center for essentially all goods be they low end (toys) or high end (iPhones). There’s been some “friend-shoring” to places like Mexico. Still, China remains the factory of the world.

Thanks so much for the question.