As other have said this is already happening with Huawei and SMIC. And this is DUV, not EUV. China has already poured billions into it, and will continue to do so until it is somewhat cost neutral. 98% of smartphone outside of Apple and Samsung are Chinese brand. Their domestic market will be the first to use some of these chips, to use the term HN may have heard of it, To eat its own dog food.

It isn't just Foundry or ASML either, it is across every single component sub sector. From NAND, DRAM, LCD Panel to OLED etc.

And Apple is behind it, "lifting" ( as they would like to call it ) every single one of these manufacture. Something no one likes to mention or continue to be ignored.