Foreign automakers' early 2026 market share gains in China reflect a subsidy hangover, not a comeback. The technology gap has reversed.
Alphabet's market cap hit $4.6 trillion after Q1 earnings surged 22%. Google Cloud grew 63%. Nvidia fell 6%. The gap is $200 billion and shrinking.
Two Chinese courts ruled that AI adoption is a business choice, not grounds for termination. The US and EU have no equivalent protection. The gap is deliberate.
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