Biden's new sanctions probably mean the end of China's semiconductor industry

Unlikely.

China has lots of available cash to develop a crash-program for semiconductors. That cash can also open lots of doors. Just like Israel gained its first nuke by stealth and espionage, China can accede to the first echelon of semiconductor manufacturers the same way.

And this is all so unnecessary. In the perennial management problem of 'Do we "buy-built" as it's cheaper and faster to do so? Or do we spend lots of time and money on "rolling our own"?, China made the choice to 'buy-built' and was perfectly happy buying hundreds of billions of dollars worth of semiconductors from the US every year.

This was 'win-win' also for the US semiconductor manufacturers. They had a lovely huge captive market. They were raking in money hand over fist.

So for some stupid reason, the US decided to shoot itself in the foot. They banned sales of semiconductors to China which means that China now has to invest in building up a complete industry from scratch.

But when they have built that industry, guess who will have that new competition? That's right. Those US semiconductor manufacturers who used to laugh all the way to the bank from billions in Chinese sales will be undercut and out-competed and will go under just like the US paper industry, the US textiles industry, the US machine tools industry, the US building materials industry, ..... Well you get the drift. All those industries that used to be in the US and are now pretty much non-existent.