Excellent, Caillian.
We reach for Boycotts and sanctions because it's satisfying, and we believe it costs us nothing.
As you point out, the evidence of either achieving their stated goals is thin -- putting it generously. Cuba, Venezuela, and Iran have not become more social globally because of these penalties: the reverse is arguably the case.
Putin has neither withdrawn from Ukraine nor lost popularity because of Western sanctions. It's unlikely that America's withholding of chips will hurt China beyond the short term, but America's actions risk its security and prosperity.
I wrote "America Must U-Turn and Avoid a Collision with China," and I invite your comment.
Best.