Transistors are the basic building blocks of computer chips. Theyre essentially things which can be 'on' or 'off'.

The traditional transistors use something called a p-n junction. To make one of these, we need to carefully implant impurity atoms into silicon in a very specific concentration gradient.

When transistors get very small, it becomes extremely difficult to make this concentration gradient just right. Which is a limits how small the p-n junction can be.

The new gate-all-around transistors are shaped completely different, and are more like 3D structures than 2D patterns. And, crucially, they dont require p-n junctions. Which means we're not limited by how small we can make concentration gradients, but instead by how small we can make these structures. Which is a lot smaller.

The fact that China is getting better at this means that high-performance computer chips may get cheaper as production wont be dominated by TSMC/ASML.

I think it means China will make Ram cheaper, but not yet. Also they are upsetting the technological equilibrium, but that's expected as the West invests its societal surplus into creating a new realm of aristocracy.