Sharp China: Two Weeks of Nvidia Angst; Stocks and Real Estate; Warming Relations with India?; Labubu and Soft Power Exports

This episode of Sharp China is outside the paywall. Show Notes: On today’s show Andrew and Bill begin with a raft of news on Nvidia that came during the podcast’s vacation, including reports the company was summoned to meeting with the Cyberspace Administration of China, sources saying the same regulators have warned PRC companies against purchasing the H-20 chips, and news that the US is now granting licenses to sell H-20 chips to PRC companies in exchange for 15% of China chip revenue. Topics include: Jensen Huang’s successful lobbying, criticism of the 15% tax, questions about the motivation in Beijing, and thoughts on the near future in Washington. From there: Checking in with the real estate market and stock market as Beijing pledges more support for real estate and the SSE Index hits a 10-year high. At the end: Liu Jianchao is reportedly under investigation, Bao Fan has reportedly been released, India and China move to improve relations in the face of US tariffs, and an email about the Labubu phenomenon and PRC soft power exports.You can listen to the podcast in the app:Or click here for instructions to add the podcast to your preferred player. To subscribe to Sinocism, click here.To subscribe to Stratechery Plus, click here.And if you enjoy this podcast please share it far and wide:Related Readings:Rectifying the PV industry; Youth unemployment; Wang Yi in India; September 3 -- SinocismBeidaihe break over; New Xi books; Support for real estate; Liu Jianchao; PRC-India -- SinocismChina Demands Companies to Halt Nvidia Chip Orders Over Security Concerns -- The InformationNvidia's China prospects undimmed by Beijing's H20 worries -- NikkeiDeepSeek’s next AI model delayed by attempt to use Chinese chips -- FTExclusive: Nvidia working on new AI chip for China that outperforms the H20, sources say -- ReutersExclusive: US embeds trackers in AI chip shipments to catch diversions to China, sources say -- ReutersApril Politburo Study Session on AI is bad news for Nvidia -- SinocismChina’s Stock Rally Has the Makings of a Durable Bull Run -- BloombergChina Detains Senior Diplomat Who Aided U.S. Relations -- WSJHigh-profile Chinese dealmaker Bao Fan released from detention after two years, source says -- ReutersModi Hails ‘Friend’ Putin and Boosts China Ties in Tilt From US -- BloombergAt Wang meeting, China asked India not to deal with Taiwan. What Jaishankar said -- Hindustan TimesHow These Little Elves Turned Into a Global Sensation -- NYTThe curious case of Labubu's Chinese identity -- Following the YuanTashi’s dream of a Labubu chew toy. Thanks ChatGPT:To add the Sharp China feed to your preferred podcast player:Click on the "listen on" button and you will see a dropdown with several options. Make sure you are logged into your account when you do it so you get the correct private RSS feed for subscribers. If you have not logged in for a while you can enter your email and then we will send you a login link.The “email link” in the pulldown shown above will send you an email that also makes it easy to set it up in your preferred podcast app on your phone.If you use the Substack app it has a built- in podcast player.Thanks for listening. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit sinocism.com/subscribe