China's mature chips to make up 28% of world production, creating oversupply (tomshardware.com)

This part of market ("mature" chips around 30 nanometers) is pretty much ignored by mainstream manufacturers, or phased out. But thats where the most demand is, something like low end laptops or Raspberry Pi4!

So for West it is "oversupply" bcos they push super expensive advanced Iphones and AI. For India and Africa it is a blessing, there will be good smartphones for $20 !!!