Alice Han

So China subsidizes industries that produces the precursor chemicals for fentanyl, effectively creating these cheap fentanyl products that then get flooded into the American market. Now, China says it's cracked down on fentanyl itself exports to the US, but the precursor chemicals are still being produced by China.

So I could foresee more collaboration on that front for China to, again, reduce or even cut off all exports of those chemical components. And that would be seen as a win for Trump and for his political base. On China's side, all that they care about is that they want to achieve a degree of supply chain self-sufficiency, especially when it comes to the harder areas like semiconductors.

So I could foresee more collaboration on that front for China to, again, reduce or even cut off all exports of those chemical components. And that would be seen as a win for Trump and for his political base. On China's side, all that they care about is that they want to achieve a degree of supply chain self-sufficiency, especially when it comes to the harder areas like semiconductors.

So I could foresee more collaboration on that front for China to, again, reduce or even cut off all exports of those chemical components. And that would be seen as a win for Trump and for his political base. On China's side, all that they care about is that they want to achieve a degree of supply chain self-sufficiency, especially when it comes to the harder areas like semiconductors.

They want to keep growing and not have these huge trade risks that Trump poses. And they want to extract geopolitical concessions potentially in the long term over Taiwan. That is a long-term game, but I think the two first priorities are how do we grow stably and how do we maintain supply chain dominance and resilience.

They want to keep growing and not have these huge trade risks that Trump poses. And they want to extract geopolitical concessions potentially in the long term over Taiwan. That is a long-term game, but I think the two first priorities are how do we grow stably and how do we maintain supply chain dominance and resilience.

They want to keep growing and not have these huge trade risks that Trump poses. And they want to extract geopolitical concessions potentially in the long term over Taiwan. That is a long-term game, but I think the two first priorities are how do we grow stably and how do we maintain supply chain dominance and resilience.

I actually don't think it gets in the way of China's goals because I think it is in China's interest to rebalance. They've said this for over two decades now, but when push comes to shove, they've been faced with some kind of slowdown or economic crisis, be it GFC, be it COVID, be it trade war one, and they've walked back. on some of these rebalancing efforts.

I actually don't think it gets in the way of China's goals because I think it is in China's interest to rebalance. They've said this for over two decades now, but when push comes to shove, they've been faced with some kind of slowdown or economic crisis, be it GFC, be it COVID, be it trade war one, and they've walked back. on some of these rebalancing efforts.

I actually don't think it gets in the way of China's goals because I think it is in China's interest to rebalance. They've said this for over two decades now, but when push comes to shove, they've been faced with some kind of slowdown or economic crisis, be it GFC, be it COVID, be it trade war one, and they've walked back. on some of these rebalancing efforts.

So I think it's in China's interests and policymakers are realizing this. When I was in China a month ago, they were starting to say that overcapacity was an issue and that they need to do more to rebalance. I had never heard them say that before.

So I think it's in China's interests and policymakers are realizing this. When I was in China a month ago, they were starting to say that overcapacity was an issue and that they need to do more to rebalance. I had never heard them say that before.

So I think it's in China's interests and policymakers are realizing this. When I was in China a month ago, they were starting to say that overcapacity was an issue and that they need to do more to rebalance. I had never heard them say that before.

In previous days, they were saying this was free market competition and the West should be so happy to have cheap Chinese renewable technologies, green technologies. The fact that they're saying that seems to me to suggest that they need to rebalance. They realize that.

In previous days, they were saying this was free market competition and the West should be so happy to have cheap Chinese renewable technologies, green technologies. The fact that they're saying that seems to me to suggest that they need to rebalance. They realize that.

In previous days, they were saying this was free market competition and the West should be so happy to have cheap Chinese renewable technologies, green technologies. The fact that they're saying that seems to me to suggest that they need to rebalance. They realize that.

And that actually this is an opportunity for China potentially to buy more American products to address some of that trade imbalance that the U.S. is rightly, I think, complaining about. and find ways to maybe even invest in the U.S., if Trump and the Republicans allow it, to create manufacturing jobs in the U.S. because China has the logistical, the manufacturing know-how.

And that actually this is an opportunity for China potentially to buy more American products to address some of that trade imbalance that the U.S. is rightly, I think, complaining about. and find ways to maybe even invest in the U.S., if Trump and the Republicans allow it, to create manufacturing jobs in the U.S. because China has the logistical, the manufacturing know-how.

And that actually this is an opportunity for China potentially to buy more American products to address some of that trade imbalance that the U.S. is rightly, I think, complaining about. and find ways to maybe even invest in the U.S., if Trump and the Republicans allow it, to create manufacturing jobs in the U.S. because China has the logistical, the manufacturing know-how.

So I think that the Chimerica relationship has the ability to have a second chapter in its relationship and not go through a full-scale divorce or decoupling. But again, it all comes down to politics, Ed, and that is where I'm not so sure.