Alice Han

Now, with tariffs risking at the height of 145%, this was going to be a very daunting task.

Now, with tariffs risking at the height of 145%, this was going to be a very daunting task.

But I was struck by the fact that, A, the policymakers had spent the last eight years not only aggressively rerouting trade through third-party countries, but finding ways to cushion the blow, as they saw in Trade War I. And secondly, there was this feeling on the ground that there was going to be more policy support, especially for the private sector, for the tech sector.

But I was struck by the fact that, A, the policymakers had spent the last eight years not only aggressively rerouting trade through third-party countries, but finding ways to cushion the blow, as they saw in Trade War I. And secondly, there was this feeling on the ground that there was going to be more policy support, especially for the private sector, for the tech sector.

But I was struck by the fact that, A, the policymakers had spent the last eight years not only aggressively rerouting trade through third-party countries, but finding ways to cushion the blow, as they saw in Trade War I. And secondly, there was this feeling on the ground that there was going to be more policy support, especially for the private sector, for the tech sector.

I saw tech executives being more positive and ebullient.

I saw tech executives being more positive and ebullient.

I saw tech executives being more positive and ebullient.

about the future pathways more so than in any time since 2018 so that was the feeling on the ground obviously i would say in the last 24 hours we're seeing remarkable improvement and sentiment i would say because we now have a complete diminishing of the risk that was being held for chinese companies and as well as the chinese macro situation which was these exorbitant tariffs

about the future pathways more so than in any time since 2018 so that was the feeling on the ground obviously i would say in the last 24 hours we're seeing remarkable improvement and sentiment i would say because we now have a complete diminishing of the risk that was being held for chinese companies and as well as the chinese macro situation which was these exorbitant tariffs

about the future pathways more so than in any time since 2018 so that was the feeling on the ground obviously i would say in the last 24 hours we're seeing remarkable improvement and sentiment i would say because we now have a complete diminishing of the risk that was being held for chinese companies and as well as the chinese macro situation which was these exorbitant tariffs

So I would say I was struck by how confident China felt. And comparatively speaking, when I'm in the U.S., I would speak to my American counterparts. The reaction is very dismal on the ground. So it's been a tale of two very different stories.

So I would say I was struck by how confident China felt. And comparatively speaking, when I'm in the U.S., I would speak to my American counterparts. The reaction is very dismal on the ground. So it's been a tale of two very different stories.

So I would say I was struck by how confident China felt. And comparatively speaking, when I'm in the U.S., I would speak to my American counterparts. The reaction is very dismal on the ground. So it's been a tale of two very different stories.

I completely agree with you, Scott, even though I always like to be contrarian, especially in conversations with intelligent people like you and Ed. I would say that China has become James Dean in that film, Rebel Without a Cause. It won the game of chicken because it had escalation dominance and it had more political appetite to increase the tariffs. And Trump clearly didn't.

I completely agree with you, Scott, even though I always like to be contrarian, especially in conversations with intelligent people like you and Ed. I would say that China has become James Dean in that film, Rebel Without a Cause. It won the game of chicken because it had escalation dominance and it had more political appetite to increase the tariffs. And Trump clearly didn't.

I completely agree with you, Scott, even though I always like to be contrarian, especially in conversations with intelligent people like you and Ed. I would say that China has become James Dean in that film, Rebel Without a Cause. It won the game of chicken because it had escalation dominance and it had more political appetite to increase the tariffs. And Trump clearly didn't.

He had to listen to the Bill Ackmans, the billionaires of the world, who were reminding Trump not only was this going to hurt his base, but shelves would be completely empty. And I think that he caught on to that and he was very much convinced by that. So the Chinese, I think, feel very vindicated in their strategy, which was to do tit-for-tat tariffs, like-for-like.

He had to listen to the Bill Ackmans, the billionaires of the world, who were reminding Trump not only was this going to hurt his base, but shelves would be completely empty. And I think that he caught on to that and he was very much convinced by that. So the Chinese, I think, feel very vindicated in their strategy, which was to do tit-for-tat tariffs, like-for-like.

He had to listen to the Bill Ackmans, the billionaires of the world, who were reminding Trump not only was this going to hurt his base, but shelves would be completely empty. And I think that he caught on to that and he was very much convinced by that. So the Chinese, I think, feel very vindicated in their strategy, which was to do tit-for-tat tariffs, like-for-like.