It wasn’t too long ago that a large percentage of chip manufacturing took place in the United States. That number has declined from about 37% of chips sold globally in 1990 to 12% in 2019. The original offshoring of these jobs took place under neoliberalism, which I think you’re a proponent of if I remember your past posts correctly.
Your second bullet point is the most important. Direct economic incentive is what drives this industry. Obviously, legislation must be passed in order for these changes to take place. This is a modern country with a fairly modern economy.
The most famous examples of left wing populists in the U.S. are AOC and Bernie Sanders. Do you think people of this ilk would not support legislation that reshores certain domestic industries? That’s kind of their whole brand, so that would be weird if they didn’t.
I’m not a policy expert, but I know that there are a plethora of ways to spur domestic chip manufacturing that don’t involve no-strings-attached giveaways to companies that were already massively profitable and still spending large portions of their money on stock buybacks and executive salary packages.
A populist movement would force these industries to invest in America and Americans. If you think it’s Lenin on one side and Hitler on the other with no daylight in between when it comes to populism, I really don’t know what to tell you.