1. Executive Briefing (TL;DR)

• The Core Thesis: China’s forced strategic shift toward open-source artificial intelligence (AI) models—driven by U.S. chip restrictions—is commoditizing both AI software and hardware. This open-source strategy provides high-quality, ultra-low-cost alternatives globally, threatening to severely compress the exceptional profit margins and capital expenditure returns currently…

Note: *Recorded on June 25, 2026 at 2:00pm Taiwan Standard Time

1. Executive Briefing (TL;DR)

• The Core Thesis: China’s state-driven economic framework is generating severe structural imbalances marked by oversupply and crashing domestic confidence, triggering a retail and real estate downturn. Faced with intensifying Western trade disputes and structural decoupling, Beijing is explicitly shifting its…

"The Chinese are you know the 700 lb gorilla in our industry for EVs There's no real competition from Tesla GM or Ford with what we've seen from China" - Jim Farley [00:09:52]

"Everyone's going to have affordable EVs The question is if you sell an affordable EV in the US for $30,000 but it cost you 50 to make it you could say you have an affordable…

• Speakers: Susan Chan (Head of Asia-Pacific at BlackRock) interviewed by Rebecca Sin (Bloomberg Intelligence).
• Regional Landscape: [00:00:21] Susan Chan notes that Hong Kong is "booming," a sentiment matching earlier comments by Hong Kong Financial Secretary Paul Chan.
• Market Activity:…

"China today has more oil in storage than the rest of the world combined it has more natural gas in storage than the rest of Asia combined it has more fertilizer in storage than the rest of the world combined." - Louis Gave [00:00:08]

"Today there's three countries that stand out that borrow disproportionately from foreigners uh one is yours the UK...…

"basically in China we have no 19th century to some extent at all because basically the idea of the century was only emerged in the beginning of 20th century" - Wang Hui [00:13:26]

"it convey a very strong sense of the synchronicity global synchronicity it's almost not possible define China only with its own past the all others became our past" -…