Keyu Jin

And I think it's by choice that he's roaming around the world, given that he has more free time.

All of them do.

All of them do because their lives, their destinies were totally changed because of China, because of the government, because of Deng Xiaoping, because of everything.

That's not how I would describe that generation and their feelings towards China.

Of course, you always get exceptions, right?

The ones who have moved to the U.S.

and who...

who wants a democracy.

But by and large, people are deeply grateful to China, the Chinese government, the Communist Party, if you want to label it as that, because they've seen their lives be totally transformed.

I mean, Jack Ma went from being a schoolteacher to becoming one of the most powerful people in the world.

I mean, if you didn't have China, how could that have happened, right?

The U.S.

will lead for some time on breakthroughs, on disruptive technologies, the zero to one technologies that ultimately change the world.

But innovation is a process.

It goes from invention to production and commercialization and diffusion.

diffusing technology throughout all parts of the economy.

And on those two stages, I think that China has a unique advantage, even if it still can't do the zero to one breakthroughs.

Because in the end, how much this technology is adopted by the countries and by the various parts of the economy is fundamentally crucial to how much productivity will be unleashed.

And China's

Innovation currently, the deep seek is really one example, and I think it's really the beginning of the scale-based, leading-edge technology, cost-cutting-driven kind of innovation model could be just as powerful, maybe even more effective and powerful than the breakthroughs.