3/ I wrote about this idea in a new High Capacity piece on Chinese semiconductors:
high-capacity.com/p/chinese-…
"For companies or countries playing catch-up, there may be opportunities to leapfrog ahead by discovering entirely new axes of innovation. There’s a great expression that comes from racing: “overtaking on the curve” (弯道超车). When there’s a big shift in the industry, there can be opportunities for players that were previously behind to surge ahead."