Are losing. We can see this ourselves. Empty shelves at supermarkets, year-long waits to see a doctor, insurance costs doubling or tripling, etc.

Computer chips are used in two broad categories. Efficiency and Entertainment. The high-end chips are necessary for better moving-image/video processing, entertainment. They're nice to have, but we don't need them. China already produces the chips necessary to run a tractor, steel mill, etc.

We could go back to old-gen (pre ASML) chips and our phones would still communicate. And the Internet work.

No chip will ever produce energy. No chip will ever grow a plant. No chip will ever change the carbon content of the atmosphere. It can only help in the efficiency of their production.

So though I buy your breakdown theory, super high-end chips will the the least of mankind's problems. You can't AI a tornado out of existence ;)