Why can’t western companies compete with Chinese on mining hardware making?

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Edit: I'm asking about making of mining hardware, not mining.

Edit 2: It's said only a few companies worldwide can make chips, i.e., turn silicon into chips. Can Chinese make ASIC chips? I assume the ASIC chip is the biggest cost of the hardware.

submitted by /u/exab
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Ticker

1 BTC = $42532.84 USD  (via Coinbase)
1 ETH = $2919.15 USD  (via Coinbase)
1 LTC = $153.93 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

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