GOOGL - The China Narrative Is Broken; China Is Uninvestable For Now

• About six weeks ago I sold my last China position; I had dumped Alibaba on March 27 and sold part of my China small cap ETF in May.
• The narrative behind China investing, which was born in 1980 and ramped up sharply over the past two decades, is now broken.
• It's possible to give micro explanations for the actions of the Chinese leadership, but the large context of their decisions is more ominous.
• The US has an up and down history with China, not just over the past 70 years but throughout the 19th Century; China's leadership likely frames the present in context of this history.
• There is a current revival in enthusiasm for Mao Zedong, and the leadership is encouraging a pro-Mao rewrite of history: very bad news for foreign investors and many others, including Taiwan.

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