For the first time ever, the Chinese

leader had the upper hand in this

summit. And the potentially

game-changing outcome was that the US

and China are now trying to work

together to put into place what China

calls a constructive China US

relationship of strategic stability.

>> Welcome to China Decode. I'm Alice Han.

>> And I'm James King.

>> In today's episode of China Decode,

we're discussing the postgame analysis

of the Trump Xi Summit, what Apple,

Tesla, and Nvidia stand to gain after

the trip, and the infusion of technology

and creativity that Chinese companies

are bringing to this year's GAN Film

Festival in France. That's all coming

up. But first, let's do a quick check-in

with how the Chinese markets are

starting the week. On Monday, the

Shanghai Composite Index ticked up 0.2%.

Standout stocks including Narrow

Technology, a semiconductor equipment

firm up 4.9% and Hagong Tech up 10% with

positive signals through the AI and

semiconductor sectors. The Shenzhen

component rose 0.3%.

Retail sales sharply eased to 0.2%

year-on-year growth in April, marking

the weakest growth since December 2022.

Industrial output also slowed to 4.1%

yearonear, the softest pace since July

2023.

All right, let's get into it. We're

still decompressing from last week's big

summit between US President Donald Trump

and Chinese President Xi Jinping. Both

leaders left the event after trading

praise and touting massive progress in

stabilizing what they agreed is the

world's most important bilateral

relationship. Trump hailed fantastic

trade deals and said a lot of different

problems quote unquote were settled.

Although no major agreements or

breakthroughs were announced before he

departed Beijing, Taiwan and Iran loomed

large over the talks, but much of the

trip seems centered around economic and

business related progress between the

two nations. James, we have been talking

about this at length. We had a Substack

live video about this as well. How do

you perceive the this summit? What are

the main takeaways? And what do you

think we should expect after this main

summit?

>> Yeah, I find myself slightly at odds

with I think conventional wisdom on

this. Uh, a lot of the news reporting

has called this things like the

stalemate summit. Uh, others have called

it a nothing burger, but I think those

are very much missing the mark. Uh, to

me this summit was important. There was

one what I would call historic aspect

and there was one potentially

gamechanging outcome. I think the

historic aspect was that from my

perspective for the first time ever the

Chinese leader had the upper hand in

this summit and the potentially

game-changing outcome was that the US

and China are now trying to work

together to put into place what China

calls a constructive China US

relationship of strategic stability. I

know that's a bit of a mouthful, but to

me that means they're trying to climb

down from a situation in which China and

the US are constantly adversarial in

their relationship and moving towards a

much more stable relationship. And I

think one of the pointers towards this

is that Trump invited Cining to visit

the US in September this year and Sigin

Ping has agreed to go. So there's a

measure of continuity there. Um I think

quite a lot of people will be will be

wondering whether or not this really was

a historic summit. Um and uh in the

sense that I I reckon China had the

upper hand. I think you can see that

from the fact that Trump was trying to

be as friendly as possible. He said to

Cining, "You are a great leader." He

said, "It's an honor to be with you.

It's an honor to be your friend." The

relationship between China and the US is

going to be better than ever before. And

I think one piece of essential

background has changed a lot in the way

these two countries see each other. And

that is China's enduring chokeold over

rare earth and critical minerals

supplies. These rare earths and these

critical minerals are essential to make

US weapons. The Pentagon needs them. US

arms manufacturers need them and so do

all the big US tech companies, many of

which were on the plane with Trump. The

other thing is, of course, that the US

needs China to some extent to help

resolve the war in Iran. We don't know

whether China will play ball in that

regard, but uh it's it seems clear that

Washington thinks it might need China.

So that's why I come to the conclusion

that this was the first US China summit

ever where China appeared to have the

upper hand. The second point about

stability, I guess we can we can

discuss, Alice, but how did you see it?

I mean, how how did you see the

interplay? Did you think it was

important or did you think it was a a

nothing burger as some people say? Well,

just very very quickly, I've been

watching all the videos in terms of

their interaction and I think uh

President Xi knew how to play that

relationship very very well. You he was

speaking to the right audience when in

his banquet speech, the state banquet

speech over dinner, he said that the

great rejuvenation of the nation, which

is a big slogan of his, can go

handinhand with make America great

again. And I thought it was very smart

and apt of him to link these two

narratives that these countries have

about their greatness together to say

that effectively he and Trump are uh you

know singing from the same choir sheet

and effectively I think it is reviving

this G2 relationship that China wants to

see and the global stage. But to bring

it slightly away from the personal, uh,

I want to sort of talk a little bit

about what has happened in the last few

days since the summit, since Trump has

left. And it's always very helpful to

compare notes in terms of the two sides

of readouts, Washington versus Beijing.

Washington's White House readout made it

very clear that China had agreed to a

number of things which still the Chinese

haven't confirmed. So just to run

through them very very quickly, the

Chinese according to the White House

have agreed to purchase 200 Boeing

aircraft. Now there is slightly down

from the 500 that is what is originally

speculated. China has also agreed

according to the White House to purchase

at least 17 US billion per year in a

products in 2026, 2027 and 2028. And

that's on top of the soybean bean deal

that it agreed to late last October. And

China is going to renew the expired

licenses for the 400 or so US beef

facilities. They're going to work with

regulators to import more American beef

and similarly American poultry and that

the Chinese will help uh the US address

its concerns with regards to critical

minerals and rare earth supply

shortages. So some of these rare like

scandium, neodymium which have do have

um relevance for uh defense related

applications from the Chinese side and I

think this is interesting. There is uh

an acknowledgement of the US uh

purchases the purchases of US Boeing

aircraft. There is an acknowledgement in

terms of a resumption of some level of

beef imports uh as well as a imports not

but no specification as to the size and

the and the scale. Uh and then I thought

this was interesting. The Chinese

readout suggested that the two sides had

agreed that they would expand two-way

trade including in agricultural products

and that they would cut tariffs in

mutually sensitive areas. It suggests to

me as is often the case uh that the two

sides have very different

interpretations or takeaways from the

meeting. the American side is very keen

to help American business in particular

American a American aviation company in

the form of Boeing and and to help um

you know plug the holes in the supply

chains when it comes to critical

minerals on the Chinese side I feel is

that they're more interested in the two

boards the board of investment and board

of trade and and in you know renewing

and expanding those two dialogues in

terms of a reducing tariffs which

obviously didn't come out of the summit

and B expanding the opportunity set for

Chinese companies to set up a shop and

invest in American manufacturing. What

is also interesting is what is missing

from the two readouts. So there's no

discussion about chip export bans being

wound down uh and similarly no uh

discussion about the tariff levels.

Right? So that's what's happened in the

last few days. Uh keen to get your take

on it. But I think we can I at least

from my vantage point Trump got the some

of the business deals that he wanted.

The Chinese got further summitry and an

expansion of discussion around some of

the more strategic areas like tariffs

like investment and maybe in the future

chips.

>> I completely agree Alice. I think you

know after these summits it's always

really rewarding to look at the contrast

of the two communicates and uh these two

communicates contrast quite a bit as

you've just mentioned I think the key

contrast is something that you've

already uh mentioned a little bit and

that is the rare earths the Chinese did

not mention rare earths or critical

minerals at all and yet the US put this

pretty much you know at the top of the

of one of leading sections in the White

House fact sheet. Um, this to me means

that first of all, as we mentioned, the

US really wants these rare earths. They

are essential for the production of

American weapons. Um, but it also means

I think uh that the Chinese are holding

back. They are I'm not saying the

Chinese will not supply these rare

earths, but they're going to use them as

leverage. They're going to use them as

bargaining chips to ensure that the US

does more on China's big ask which

Cining was very clear about right at the

beginning of the summit and that is

Taiwan. Exactly what China wants from

the US on Taiwan. We don't really know.

But if past is prologue, then certainly

China will be hoping that the US either

reduce sharply or scrap or postpone some

of the big US arms sales to Taiwan or

maybe in the future the US works towards

coming up with a form of words that more

closely reflects China's view of its

disagreements with Taiwan, particularly

on the issue of sovereignty. So I think

that China is using the rare earth choke

hold to try to you know put pressure on

the US to get something on its most

important topic. Um now on the issue as

you've mentioned on the the trade and

investment councils I do think that this

is quite key as I said at the top there

is this uh Chinese phrase of putting the

relationship onto a new footing that of

a constructive uh relationship of

strategic stability and I think these

two uh councils as China called them or

as the US is calling them the US China

board of trade and the US China Board of

Investment. I think these are crucial to

this um initiative of trying to reduce

some of the differences, reduce some of

the tension that we see between the US

and China on trade and investment

issues. And uh some people are poo

pooing this. Some people are saying this

is not important. It's just a form of

words. There's no sincerity behind it. I

completely disagree. I think this is

important and I think both sides want to

do this because both sides need

something from the other. In the case of

the US, it's rare earth to make weapons

and in the case of China, it's some

movement from the US on Taiwan aside

from other issues of course. So I think

that there is impetus for the two to try

to work together to reduce their

differences.

>> Really interesting. And and just to add

one final word on some of these

geopolitical issues, Taiwan and Iran,

there wasn't apart from the Chinese

statement about their red line when it

comes to Taiwan. There wasn't any major

readout about the Taiwan issue.

Similarly, there has been no indication

as of yet as to whether or not uh Trump

and the American administration will go

ahead with the 11 billion uh arm sales

agreed to last December to Taiwan. Uh

and similarly on the Iran issue, we

heard a China that was very mum and

reluctant to say anything about Iran. Uh

but the US was keen to document the fact

that China and the US agree that peace

uh in the Middle East and a resolution

to the straight of Hormuz is in each

other's best interests. But I I come

away from this summit feeling like a

nothing burger on the geopolitical

issues. Right.

>> Yeah. I think I think on Iran it was the

dog that didn't bark. Um the the US was

pretty clear. Trump even said in front

of Cinping in televised remarks that the

US was determined that Iran would not

develop a nuclear weapon. The Chinese

side was completely silent about that

both in that meeting between C and Trump

but also in the in the following

statements after the summit. So I think

we can take that as a point of

disagreement or at least China is not

willing to say anything about Iran and

nuclear weapons at this point. So it

doesn't sound to me like there was a

great meeting of minds on Iran. It could

also be the case that China is holding

this in reserve to use it again as

leverage uh in the future.

>> Yeah. So it seems like they've agreed to

disagree but put those two issues in the

back burner. If you missed it, we did

our first Substack live stream last

week, breaking down all things Trump

Summit, joined by Kevin Shu, author of

the interconnected Substack. To check

out all the insights on the meeting,

robotics, Taiwan, and more, watch the

replay on Substack now. And we're going

to be doing more of these exclusive live

streams for our subscribers. So, make

sure you get signed up to ProfG Plus at

chin decode.profia.com.

We'll be back with more on the CEO

presence at the summit after a quick

break. Stay with us.

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Welcome back. We haven't touched much

yet on the economic and commercial

aspects of the Trump X she summit, but

it was notable that over a dozen US

executives were part of the delegation

to China, including Tesla CEO Elon Musk

and Nvidia CEO Jensen Hang, who both

traveled with the US president on Air

Force One. The CEOs became a bit of the

main story themselves. Here's Jensen

Huang enjoying himself around town in

Beijing after the official meeting

concluded. James, I actually have to say

that I've been doomcrolling a lot of the

videos of Jensen Huang going on his

little food foodie journey throughout

Beijing. He's eating a lot of things

like mishing, which is a type of, you

know, bubble iced tea. He's also eating,

which is a type of Chinese noodle. Uh,

and I see him eating some squid

tentacles. Um, having some fermented

soybean milk. And and what was actually

interesting to me is to see ju just the

level of affection that he has amongst

everyday Chinese on the street. You can

see that in the way they interact with

him and even in the way that the stores

immediately after he's come almost as if

to bless each store, they have a photo

of him or some new drink or some product

that is named after him. That I think

suggests to me that Jensen Huang's charm

offensive has worked out. He's probably

been the most effective uh CEO in the

delegation in terms of charming uh the

Chinese. Uh and you know, some netizens

have been commenting on the fact that

he's been the hardest working of the

delegation because he's been here the

longest and doing his homework on China,

which I thought was uh pretty apppropo,

but it speaks to a I think a broader

insight, which is that Jensen really

needs to get the Chinese on board.

They're the hold up when it comes to the

import of H200s. The US has just

announced that 10 Chinese suppliers can

get access to H200's from Nvidia

including Alibaba and Bite Dance,

Lenovo. But the real bottleneck is

Beijing, right? So I wanted to ask you a

broader question as to who were the

winners and losers, but in particular

the winners that you think at the CEO

delegation and what does that say about

American business interest in China? I I

really like your descriptions of Jensen

Huang going around Beijing eating all

kinds of uh Chinese food. I think uh he

looked like he was enjoying himself. And

did you see that clip of him when he was

walking around Shushahai in central

Beijing, which is a beautiful scenic

lake area. I was there about a month and

a half ago myself. And a Chinese

reporter rushed up to him and said, "How

do you like China?" And he said, "I love

China." I thought I mean it was just a

it was just a oneliner but it it it

really said a lot to me. He is the $5

trillion man. Um I'm talking of course

about the Nvidia uh well uh market

capitalization of Nvidia shares hovering

around5 trillion right now. So he is the

US's biggest businessman and he's

actually uh well he runs the world's

most valuable company. So it is a a a

big barometer of US China relations as

to what's happening with Nvidia chip

sales to China. And I thought, you know,

he came out with a phrase in an

interview recently. He said, you know,

uh, Nvidia had a 90 some odd percent of

the world's market share. But today in

China, we have dropped to zero. And this

is obviously because of the US bans on

on Nvidia selling advanced chips to

China. You've just mentioned the fact

that as we understand it about 10

Chinese companies have received US

commerce department authorization uh to

buy Nvidia's H200 artificial

intelligence chips. Uh but so far we

haven't seen any shipments to China and

it's not clear whether or not the

Chinese are allowing their companies to

buy these chips. It's possible that

China will hold out on this and just not

allow uh Chinese companies to buy Nvidia

chips. Or maybe China's holding out for

the even more advanced Blackwell chips

also made by Nvidia holding out for them

to be exported to China. So we just

don't know at the the situation at the

moment. But one thing is very clear that

is that Nvidia the world's most valuable

company is having a really rough time

trying to sell its env advanced chips to

China and that's why Jensen Huang was on

such a charm offensive and as you said

certainly an effective charm offensive

when it comes to popular opinions of him

uh in China. I would say it seems to me

vitally important for Nvidia's prospects

as a company as to whether or not it can

actually start selling its Invad chips

again to China.

>> You say he's a 5 trillion man and just

to get a sense of how important the

Chinese market is. You know, by some

estimates we'll have a $5 trillion

market for robotics worldwide by 2030.

China dominates well over half of all

robotics is done by China. So if you

just think about what that could mean

for Nvidia, I mean it could be at least

another trillion dollar that he could

add to his name if he can get the

Chinese market because you know as we

discussed previously James, China's

going all in on robotics and there's a

lot in terms of um chip technology that

Nvidia can bring to bear for that

robotics uh roll out

>> completely. Um, so you know, whatever

time and effort um, Jensen Hang is

spending on his charm offensive could be

repaid massively. Uh, depending on what

the Chinese government decides to do. I

mean, the important thing about this now

is that I don't think it the ball is in

America's court. I think the ball is now

in the court of the Chinese regulators

whether they allow Nvidia uh, chips to

come in because China in the meantime

has had all kinds of workarounds. The

main ones are Huawei's Ascend series of

chips being put onto superclusters,

these massive racks of of 15,000 chips

or half a million chips or next year

we're told a million chips to try to

work around the need that China

currently has for very advanced chips

such as the ones that Nvidia makes. So,

so that's really something to watch. You

mentioned Elon Musk as well. Again, you

know, Elon Musk obviously a massively

powerful businessman in the US and and

you know, with an extraordinary global

stature, but in China, he needs China

very much indeed. At the moment, he's

seeking clearance from Chinese

regulators to expand the adoption of

Tesla's full self-driving assistance

system. So, that's one thing he needs.

He's also hoping to buy apparently about

$2.9 billion US worth of equipment uh

for manufacturing solar panels from

Chinese suppliers. So he needs China for

that too. You know, I I thought it was

interesting. I'm sure you've seen the

videos of of uh Elon Musk and his young

son uh going through I think it was the

Great Hall of the People in Beijing. Um

that was kind of touching on his behalf.

I guess that was a bit of a charm

offensive, too, would you say?

>> Well, I'm not sure if Elon was intending

that to be a charm offensive. I don't

think he's as deliberate as Jensen

Huang. Uh, but my funny observation was

when he was at the state banquet and

Leen, the the CEO and founder of Xiaomi,

uh, you know, which is a major

smartphone company, but now they're

expanding into cars and and and

elsewhere, uh, he wanted to take a

selfie with Elon, and Elon obviously

wasn't keen. You can see that on on his

face. And then the other thing that I

thought was really interesting uh was

that the only woman sat at that table

which was the main table uh where the

leaders were at uh was Joel Trenfe who

is the CEO and founder of lens

technology and she was the only woman

there. She's a powerhouse and really

built um this company from scratch and

they build the, you know, advanced

screens that are used in all iPhones,

tablets, but also in Tesla dashboards as

well. So, you know, I thought that that

was super interesting that she was there

because remember it's not just these US

CEOs that are trying to sell into the

Chinese market. They're also using China

for production, right? So, as we

discussed previously, China's share in

in global iPhone production is around

74%. That's still pretty pretty

significant. It means three out of every

four on average iPhones are still made

in in China. Uh and and Tesla still

requires a lot of Chinese manufacturing

inputs. I I saw and toured a place um

near um Hungjol where they specialize in

these uh advanced light but also uh

durable tires that are used in in

Teslas. Uh and apparently Tesla in its

newest models is unable to find anything

comparable to this kind of special alloy

wheel that is manufactured in Hul. So,

you know, I think that's worth

mentioning is that for a lot of these

CEOs, they they don't just want to sell

to the market. They also want to be able

to ensure that they can still get access

to Chinese inputs, intermediate inputs.

>> Yeah, I really like the way you've

highlighted Joe Fay. I think that is

such an important example. It shows

first of all, you know, the supremacy of

the Chinese supply chain. the fact that

China can make pretty much anything uh

of very high quality, cheaper and faster

than anywhere else in the world. But

also I I like the Joe Fay story because

she built herself up from nothing. She

started life as a migrant worker working

on the production line. She had almost

no formal education. She was when she

was a worker, she studied at night to

became self-taught to teach herself

enough technology to become, you know,

um in in the technology industry as she

is now. I mean, it's amazing. She is

really the embodiment of the American

dream as well as the Chinese dream. You

know, she made it from nothing. And I

think that's uh that that's such an

important um example of what China's all

about. Right at the other end of the

spectrum, just to to round it out, I was

interested by Goldman Sachs. Goldman

Sachs is a different case. I'd say in

the case of Jensen Hang and Elon Musk,

they both need a lot from China. Goldman

Sachs also needs a lot from China, but

it's playing a uh another charm

offensive game. It recently issued a dim

sum bond. Uh these are China's offshore

bonds. It's borrowed about 47 billion

remimb in remimb debt so far in 2026.

This is going to ingratiate it to the

Chinese government quite a bit. And as

far as we understand, Goldman needs

access to the Chinese market. Uh it

wants access to the retail and

institutional investors to manage their

wealth and assets. And of course given

China's rise and its uh yearly GDP

growth, the number of uh of investors

are growing sharply. So Goldman has also

got its its eyes on the prize. It's

trying to do the right thing by the

Chinese government, do the right thing

by the Chinese regulators so that it

gets the approval it needs to appeal to

more and more Chinese investors.

>> Yeah. And and probably on the other side

of this uh is Meta, right? Meta tried to

buy Manis which was this agentic AI

platform originally doiciled in China

now doiciled in Singapore but that has

been cancelled effectively by the

Chinese regulators because they do not

approve the sale of of a Chinese

originated uh AI company to Silicon

Valley. So I thought it was interesting

that Meta went anyway because I remember

the heyday you know over 10 years ago

when Mark was going to China and he was

very keen on the Chinese market. Since

then they've taken another attack which

is to see China as the enemy somewhat

especially the Chinese applications like

bite dance. So I thought it was

interesting that they were there not

clear to me what they were trying to do.

Maybe they were trying to ingratiate

themselves to the regulators again or or

or try to improve their profile in in

mainland China. But I thought that that

was super interesting. Okay, let's take

one last quick break. Stay with us.

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Welcome back. We'll head now to France,

another place where China is increasing

its influence. This time at this year's

Gan Film Festival, arguably the most

prestigious film festival in the world.

The China Pavilion is in its fifth year

at GAN and China Night was a gala

evening hosted last week at the start of

the festival meant to celebrate Chinese

cinema and culture. The event featured

previews of upcoming Chinese films,

celebrations of the country's artistic

traditions, and perhaps most

importantly, demonstrations of new

technology that are changing how Chinese

creators make content and how audiences

absorb that content. It's coming at a

time where you've got a lot of

conststonation and excitement about

Chinese video platform AI capabilities.

FT just ran a piece that was super

interesting looking at how uh the

Chinese video AI models are far

outpacing the American ones. So Cance

and Happy Horse for instance are doing

just better across number of metrics

than what you see out of uh Twitter or

Google or even Facebook. Uh and at the

same time there is a new uh TV show

called Pursuit of Jade in Chinese that

was the first time in history that a

Chinese TV show has reached the level of

being in the top 10 of of global

non-English content on Netflix. I sense

that after co and we've had to wait a

couple of years we are going back to

aspects of really I feel like the early

2010s

where there was a lot of global

enthusiasm about Chinese culture you

know in terms of film in terms of music

in terms of art and you know from co and

then a couple years after that it was

really I would say cloistered away the

west wasn't as interested in China

wasn't as interested in in showing its

culture. But I sense a big shift that's

happening whereby Chinese creators and

and the government supporting the

creators are super keen to show the

richness of Chinese culture. Be it from

the traditional Chinese kung fu films to

new new animated films to AI generated

content and at the same time the rest of

the world is more keen to to see it to

appreciate it uh and to share it. And

this, I think, fits in with some of the

previous discussions we've had about

China maxing. Are you a a big Chinese

film buff? And and what do you think

about this turn towards China?

>> Well, um I am a a Chinese film buff, but

I have to say I'm a film buff of yester

year probably. Um I I like the old Jang

Mo films. I was delighted to see that

Gong Lee, who starred in in many of

those Jangimo films, opened the K Film

Festival this year along with Jane

Fonda. I mean to me that just showed how

much China has arrived when it comes to

global box office and China's growing

global influence in film.

>> The interesting thing to me is the

vibrancy of the ecosystem. So the film

industry

is apparently starting to rebound after

the pandemic and you know box office

receipts are already exceeding $1.89

billion this May. This fits into what I

think um was once described to me as a

B2 consumerism in China. But what I mean

by B2 is sort of in China that's the

basement. So two levels down below the

ground floor and that's where you get

your bubble tea and your your cheap

products, dollar stores and whatnot. And

and you know in a time in which people

are more costconscious

going to the cinema can be relatively

cheaper than say you know traveling or

going overseas. So I think people are

going towards that kind of entertainment

that is more affordable and the

government has been pushing it too. So

the government is is apparently claiming

initiatives like turning film sets into

tourist destinations that will

apparently according to the government

generate around $26 billion in revenue

this year. Um the other thing that I I

thought was interesting at GAN was there

was this lady um Tina Ja I believe who's

the head of of Wingite which produces AI

generated film content and she was

saying that the Chinese AI film market

could grow to 15 around 15 billion US

and and you know we haven't gotten to

the minutiae of this but um in China

they're advancing way beyond just film

and TV shows there's a lot of short form

content that basically people watch

completely on the equivalent of Tik Tok.

So doing uh and there's also now

increasingly more AI generated content

with China really pulling ahead because

a place like Tik Tok can command and

have a database of of if so much more

content you know video content than than

even Instagram does just because of its

user base and the user generated content

scale. So, I think it's an exciting time

to be in film, you know, after a long

hiatus. All right, James, you know what

time it is. It is prediction time. As

you peer into the future this week, what

do you see?

>> Okay, I'm sticking with the film topic.

Um, as I was researching for this piece

on film, I thought, when are we going to

see the highest grossing actor in the

world as Chinese? I'm going to stick my

neck out, Alice, and say that within

five years, we're going to see the

highest grossing actor in the world will

be Chinese. So, what I'm really saying

here is the Chinese film market, which

is currently second biggest in the

world, is going to become the biggest

and therefore a Chinese actor is going

to become the highest grossing actor. I

know this isn't out there an out there

prediction. I'm really just trying to uh

dramatize a trend which I think is on

its way which is China's going to be the

world's biggest film market.

>> Really interesting. All right. So mine

is um more gerain to the summit and I

may have mentioned this previously but I

even though a lot of people may disagree

with me I have a strong feeling that

China is going to start to approve H200s

at some point in the coming months. I

think that Jeden Huang is playing his

cards right politically. He's getting a

lot of support domestically from

everyday Chinese people. You see that

across social media, micro blogs. He's a

popular guy in China. Uh and I and I

think I I'm long Jensen Huang. I think

he knows how to play the game between

the US and China. And I think he's one

of the last standing chameans that will

benefit from both sides. So I'm I'm team

Jensen. I think the H200's get approved

by Beijing because also Beijing doesn't

have enough capacity via Huawei and

Smick to to to meet the demands of

compute uh that AI will increasingly

generate.

>> Good call.

>> All right, that's all for this episode.

Thank you for listening to China Decode.

This is a production of Prof Media. Make

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Talk to you again next week.