The US gov is seriously under investing compared to it's peers. South Korea is spending nearly 9 times more with their $450Bn pledged gov investment into Semiconductors[0] compared to America's investment of $52Bn with the CHIPS Act[1]
This is a good book that goes through how economies develop and the role of State Owned/sponsored Enterprises are helpful in developing a nation's technology competencies. The author uses South Korea as a few of his examples, too.
Thanks for the recommendation! You mention that it uses South Korea, does it talk about Shipbuilding? The United States used to be a global ship building giant, but after Regan unilaterally reduced subsidies, it got completely crushed by state subsidized Japanese, Korean, and now Chinese shipbuilders. It's gotten so bad that it's a real national security risk in terms of industrial capability.
[0]: https://asia.nikkei.com/Business/Tech/Semiconductors/South-K... [1]: https://www.dispatch.com/story/news/2022/01/14/heres-what-yo...