Alice Han

So this is a landscape in which the US, I don't think, is entirely prepared for because they thought that export controls, especially on hardware, would effectively kneecap China on AI. But there's been a bit of a wake-up call. I think it was right to call it a Sputnik moment.

There was a wake-up call over the last few weeks in which investors, the broader tech community in the US, really figured out that something was happening in China. And I would continue to watch the space, watch somebody like Kai-Fu Lee, who's been the father of modern AI in China, He I met him last year.

There was a wake-up call over the last few weeks in which investors, the broader tech community in the US, really figured out that something was happening in China. And I would continue to watch the space, watch somebody like Kai-Fu Lee, who's been the father of modern AI in China, He I met him last year.

There was a wake-up call over the last few weeks in which investors, the broader tech community in the US, really figured out that something was happening in China. And I would continue to watch the space, watch somebody like Kai-Fu Lee, who's been the father of modern AI in China, He I met him last year.

He was saying that China will be very competitive in driving down inference and training costs because of the scalability and ecosystem. And I think that's being borne out right now.

He was saying that China will be very competitive in driving down inference and training costs because of the scalability and ecosystem. And I think that's being borne out right now.

He was saying that China will be very competitive in driving down inference and training costs because of the scalability and ecosystem. And I think that's being borne out right now.

I think it's a bit of a mixed bag. I do think a lot of American companies have been hurt by obviously geopolitical risk, but also just China demand going down. It's not just these companies that you cited. Luxury brands have been suffering a great deal as well. I mean, we haven't even talked about automobiles.

I think it's a bit of a mixed bag. I do think a lot of American companies have been hurt by obviously geopolitical risk, but also just China demand going down. It's not just these companies that you cited. Luxury brands have been suffering a great deal as well. I mean, we haven't even talked about automobiles.

I think it's a bit of a mixed bag. I do think a lot of American companies have been hurt by obviously geopolitical risk, but also just China demand going down. It's not just these companies that you cited. Luxury brands have been suffering a great deal as well. I mean, we haven't even talked about automobiles.

The Germans are kicking themselves because they missed the opportunity in electric vehicles and now they're being out-competed. by BYD and Geely. I think it's a story of both Chinese weak demand, going back to the first question, but also the fact that China is producing more competitive alternatives.

The Germans are kicking themselves because they missed the opportunity in electric vehicles and now they're being out-competed. by BYD and Geely. I think it's a story of both Chinese weak demand, going back to the first question, but also the fact that China is producing more competitive alternatives.

The Germans are kicking themselves because they missed the opportunity in electric vehicles and now they're being out-competed. by BYD and Geely. I think it's a story of both Chinese weak demand, going back to the first question, but also the fact that China is producing more competitive alternatives.

When it comes to Chinese companies overseas, it's a bit of a difficult one to square because certainly if you talk to these companies five, seven, eight years ago, Alibaba, ByteDance, Tencent, they were very interested in expanding and investing overseas. Now, for a ton of reasons, I think both foreign and domestic, that has really been curtailed.

When it comes to Chinese companies overseas, it's a bit of a difficult one to square because certainly if you talk to these companies five, seven, eight years ago, Alibaba, ByteDance, Tencent, they were very interested in expanding and investing overseas. Now, for a ton of reasons, I think both foreign and domestic, that has really been curtailed.

When it comes to Chinese companies overseas, it's a bit of a difficult one to square because certainly if you talk to these companies five, seven, eight years ago, Alibaba, ByteDance, Tencent, they were very interested in expanding and investing overseas. Now, for a ton of reasons, I think both foreign and domestic, that has really been curtailed.

So they have obviously seen their profit revenue growth decline over time. But there's still opportunities for them in the domestic market. I just think for Chinese tech to have a global kind of sway that, say, ByteDance does is going to be very, very hard, especially as they face potentially more geopolitical risk and backlash against Chinese tech companies.

So they have obviously seen their profit revenue growth decline over time. But there's still opportunities for them in the domestic market. I just think for Chinese tech to have a global kind of sway that, say, ByteDance does is going to be very, very hard, especially as they face potentially more geopolitical risk and backlash against Chinese tech companies.

So they have obviously seen their profit revenue growth decline over time. But there's still opportunities for them in the domestic market. I just think for Chinese tech to have a global kind of sway that, say, ByteDance does is going to be very, very hard, especially as they face potentially more geopolitical risk and backlash against Chinese tech companies.

Thank you. Thank you. Thank you.