From the Introduction: "Many Members of Congress and U.S. policymakers are concerned that China's state-led semiconductor policies, if successful, could lead to the loss of U.S. technological leadership and significantly shift global semiconductor production and related design and research capabilities to China. Chinese semiconductor competencies could support a range of technology advancements, including military applications. Although some countries, including the United States, support their domestic semiconductor industry, the scope and scale of China's state-led efforts are unprecedented when considering the amount of state funding involved, the Chinese government's ambitions to lead across the entire semiconductor value chain, the targeting of U.S. and foreign capabilities, and the particular methods that China is using, which appear to challenge current global rules and norms."
CRS Report for Congress, R46767
Congressional Research Service: https://crsreports.congress.gov/