Not entirely, as I said there's not much room at the top.
There is quite some space! Take ARM and Intel for example. Their processor designs rule the entire length and breadth of IT. China might want to see their own processor design in that position. Designed in China and Made in China. Used all over the world.
Or OS for example. Windows, Android, iOS, MacOS and Linux. This covers about 99% of whole of OS arena.
Or communication tech. Qualcomm and TI rule the current generation of Mobile data standard. There is a reason why China wanted to buy parts of Qualcomm. Also, why China is yelling and telling everyone that they have made first '5G call'.
There is quite a hell lot of head space available.
There's also not too many steps to go from designing chips to making them.
Nope! In India we have been designing chips for quite sometime. Intel has a major presence in B'lore and entire chipset for motherboard has been and still is designed in India along with pre-silicon validation using FPGAs. And taped out for manufacturing in places like Israel etc. It takes a hell lot of steps from designing to manufacturing chip. Fabrication, obviously the hardest step, Packaging, another specialized technology are just to name two. We are not doing either of them locally at scale. There are few small clean-rooms doing small production for application like defence and research.
Right now they're trying their hand at DRAM & display panels, both of which are relatively low margin but high volume as compared to complex chips.
Oh they are trying everything!
RAM, NAND flash, 5G communication and processor too!
They made that massive supercomputer for a reason. To prove that they have mastered designing and manufacturing processors at scale.
That also means lesser jobs, not more jobs.
Also, that involves a lot of IP protection and china is not exactly known for that.
Lesser, but higher paying jobs.