That's only really true for raw materials and assemblies. Chip production is the very obvious and real hole in this argument. It'll take half to a full decade

That's only really true for raw materials and assemblies. Chip production is the very obvious and real hole in this argument. It'll take half to a full decade to get new chip fabs up to what TSMC's Taiwan fabs are doing now. Quality steel production and machining is going to take time and investment as well.