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Chinese markets lose trillions as race for AI supremacy with US takes its toll
(www.theguardian.com)
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this post was submitted on 27 Oct 2026
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This doesn't make any sense if they have a stock market with AI stocks, these stocks have a value assigned to them, and that value makes up 40% of the value of the entire stock market. If these weren't important and aren't investment vehicles then why does any of the above exist? You're telling us that $2.4T evaporating into thin air is meaningless to China?
I'd be willing to bet money that if this article were saying the exact opposite thing, the comments here would be all about how "China is doing capitalism better than the capitalists." I have zero love for our capitalists here and our absurd AI market, but this disingenuous tribalism is quite ridiculous.
It's important to understand that capitalists do not run China. The CPC dictates how AI is treated. Chinese capitalists may have tried to make money off of AI like their western counterparts, but this is biting them hard when the CPC clearly demands that AI be developed in an alternative direction. The capitalist class may be trying to use AI as an investment vehicle, but they do not have a say in whether or not that actually comes to pass in a practical manner.
A good analogy is the housing industry. Real estate was made an investment vehicle by the capitalist class, only for the CPC to intentionally deflate the housing market. Housing prices fell, which cost lots of Chinese capitalists lots of money, but they had no say in the matter. The CPC dictated that houses were for living, not speculation, and then capitalists were forced to deal with the reality set without their consent.