Alice Han

Well, I think it's a pretty big concession for the Americans to make.

They still haven't formalized, and so far as I understand, James, where they haven't actually delivered on those sales yet to Taiwan.

I think that probably is significant because they didn't want to rock the boat ahead of the Trump-Xi meeting.

But that would be unprecedented, at least from my understanding.

Or do you not agree?

Okay, we'll be back with more after a quick break.

Stay with us.

Welcome back.

China's economic rise may not have just been powered by cheap manufacturing and exports.

It may also have been fueled by a major global effort to absorb Western technology from the inside out.

A new study by American, European, and Chinese economists tracks trillions in hidden Chinese corporate ownership

finding that Chinese investors heavily targeted research-intensive firms across Europe and North America.

But after those investments, innovation didn't spike at the foreign companies themselves.

Instead, patent filings surged back home in mainland China.

The findings add fuel to a growing fear in Washington that while the West thought globalization would change China, Beijing may have been using globalization to systemically accelerate its own technological rise.

And now, as the US and China battle over AI, chips, and industrial dominance, the question is whether America helped build the competitor it is now trying to contain.

James, as a historian, my first reaction to reading this paper, which is published by both mainland Chinese and American economists, I highly recommend it.

is this sort of 18th century allusion to Slater the Trader.

For people who don't know who this is, this is an Anglo-American industrialist.

He was born British.