On the backdrop of President Biden’s meeting with China’s Xi Jinping this week, Alibaba (BABA) has scrapped plans to spin off its cloud segment, citing the Biden administration’s recent export restrictions on AI chips to China.
KraneShares Chief Investment Officer Branden Ahern comments on Alibaba’s value amid international trade pressures and what US tariffs could mean for Chinese business relations.
“The Biden administration is looking to reset the relationship,” Ahern tells Yahoo Finance on easing trade tensions with China, adding on Biden’s meeting with President Xi: “There’s clearly [an] effort to stabilize the relationship, and I think that there’s really strong progress from the four-hour meeting around further military communication.”
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20% of nvidia revenue is from China too.
China uses those chips for Ai in their national surveillance and social credit system.
their realest estate developers are crashing…
Dec 4th evergrande liquidation hearing.. AMC to da moon🚀🦍🌕
China’s government jeopardized business with the US.
Of course it will! You can’t make deals when the other is strangling you!