Understanding China and how China impacts the world. Hosted by Andrew Sharp and Bill Bishop.
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(Preview) ‘Moderately Loose’ and Cautiously Stimulating; Nvidia Under Investigation; Broadening Export Bans; A TikTok Verdict and a Trump Prayer
12:14
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with the latest messaging from Beijing on efforts to stimulate the economy in 2025 and bey…
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Final Updates to the Biden Chip Controls; Peak Tough on China?; PLA and CEWC Speculation; More Trump Questions than Answers in Beijing
1:05:41
1:05:41
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1:05:41
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill return from the holiday break with reactions to the latest round updates to the US export contro…
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(Preview) The Final Biden-Xi Meeting; PRC Messaging to the World; Mass Attacks and the Party Response; Trump Transition Updates
12:26
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin by parsing the PRC readout from this weekend's meeting between XI Jinping and President Jo…
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(Preview) Stabilization Measures and Export Questions; Taiwan Considers US Arms Purchase; TSMC Halts Advanced Chip Sales to China; Trump Tea Leaves and Cabinet Picks
15:55
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with Friday's announcement from the NPC standing committee and more incremental stabilizat…
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Questions and Expectations for Trump 2.0; Looming Trade Tensions and PRC Responses; Volatility and Intermediaries; TikTok’s Last Hope?
1:04:44
1:04:44
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1:04:44
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill talk through a second Donald Trump presidency and what it might mean for US-China relations. Top…
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(Preview) Myriad Holes in US Chip Controls; New Reports on TSMC and Huawei; The Latest "Stimulus" News; Mixed Signals on Private Tutoring
9:50
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with an excellent report from Semi Analysis, and the state of the U.S. export controls on …
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(Preview) Questions for BRICS and the NPC; PRC Nuclear Arsenal and Ambitions; Taiwan's Energy Security; Heightened Scrutiny on TSMC and the Biden Admin
12:05
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with Xi Jinping's visit to the16th BRICS Summit and Russia's rumored effort to build a pla…
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(Preview) Operation Joint Sword 2024B; The Latest on the "Stimulus"; US Presidential Election Follow-Up; Two Pandas Fly to D.C.
15:02
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with the news that the PRC has sent two pandas to the National Zoo in Washington D.C., as …
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(Preview) Market Adventures Continue; Waiting for an NPC Meeting; EU Tariffs on PRC EVs; Taiwan National Day
11:58
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with the market's reactions to the NDRC press briefing on Tuesday, as Hong Kong saw all of…
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Animal Spirits and Xi Bull Market 2.0; Plans for the Property Sector; US-China Updates; Xi and the Succession Question
50:57
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with revived animal spirits and the market response to the stimulus measures emerging from…
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(Preview) Unpacking the New Stimulus Measures; A Top Economist Disappears; US Moves on Connected Vehicles; The Future of China Policy for Democrats
15:45
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with a raft of measures announced this week to stimulate the economy. Topics include: A po…
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(Preview) Retirement Age Reforms; A Sabina Shoal Win for the PRC and Questions for the US; Chip Companies in DC; Japan and TikTok
16:00
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill begin by wishing a happy Mid-Autumn Festival to all. Then: The PRC government implements the Dec…
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(Preview) The Arrest of Linda Sun; Overcapacity and Mounting Deflation Concerns; A New Role for Qin Gang; Rock Bottom for PRC Men's Soccer
15:46
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with reactions to last week's arrest of Linda Sun, a former deputy chief of staff to gover…
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The US-China Strategic Channel; Continued Drama in the South China Sea; The Next Phase of Chip Controls; Black Myth: Wukong
1:07:52
1:07:52
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1:07:52
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill begin with a look at the dialogue between National Security Advisor Jake Sullivan and Director o…
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(Preview) A New Flashpoint with the Philippines; PRC and the US Election; Tim Walz and China; Connected Vehicles Updates
14:05
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill return from the Beidaihe break with an update on a raft of Xi rumors and a programming note. The…
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(Preview) Questions for the Remainder of Biden’s Term; Huawei Gets Stronger; A Sierra Madre Resupply; Doping Controversy Continues
13:50
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill begin with a programming note for the next few weeks and various questions for the next few mont…
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(Preview) The Plenum Puzzles Outsiders; Xi Stays the Course; 'Deepening Reforms' to Western Journalism in China; Remembering the 2008 Olympics
11:54
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill begin with the Third Plenum resolution, Xi’s explainer, and its reception among the investment c…
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(Preview) Parsing the Third Plenum Communique; Xi and the Rumor Mill; Trump on Taiwan; Biden and the Chip Status Quo
13:31
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with an overview of the third plenum and its significance before turning to Thursday's com…
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(Preview) Prepping for the Third Plenum: Revisiting the Readout, Past Plenums, Common Prosperity, and Momentous Reforms (Or Not)
13:16
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill prepare for next week’s Third Plenum by talking through expectations and themes to watch. Topics…
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A Conversation with Rep. Raja Krishnamoorthi on TikTok, Tech Investment, and Competition Between the U.S. and China
1:02:20
1:02:20
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1:02:20
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill are joined by Raja Krishnamoorthi, Democratic representative for the 8th District of Illinois, a…
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(Preview) Philippines Tensions Near a Tipping Point; PLA Corruption Crackdown; Xi’s Message to the EU; A Pentagon Propaganda Campaign
10:10
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill begin with the latest incident at Second Thomas Shoal, where the Chinese Coast Guard blocked an …
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(Preview) The EU Increases EV Tariffs; US Teachers Attacked in Jilin; Xi Searches for Unicorns; A Question About Corruption
11:53
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with Wednesday's announcement that the EU will increase tariffs on electric vehicles impor…
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US-China Messaging in Singapore; New Quality Productive Forces; Putin and a Natural Gas Impasse; 35 Years After Tiananmen Square
1:03:14
1:03:14
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1:03:14
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with PRC messaging at the Shangri-La Dialogue in Singapore, including the US responses to …
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(Preview) William Lai’s Inauguration; Real Estate Follow-Up; Q&A on Gold and EV Capacity; Fast Fashion on Saturday Night Live
10:32
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill begin with President William Lai’s inauguration in Taiwan, including the PRC responses we've see…
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(Preview) New Tariffs Across Key US Sectors; Et tu, EU?; Putin Visits Beijing; Rumors of a Real Estate Bailout
13:39
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill begin with an overview of the new tariffs announced by President Biden this week, including the …
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(Preview) Xi Goes to Europe; US Restricts Intel and Qualcomm Sales to Huawei; Tension with the Philippines and Australia; TikTok Files Its Lawsuit
13:14
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with takeaways from Xi Jinping’s visit to France, Serbia and Hungary, where topics include…
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Elon Musk’s Surprise Trip to Beijing; A Third Plenum Set for July; An Uneventful Blinken Visit; Xi’s Trip to Europe
1:02:32
1:02:32
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1:02:32
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with a surprise, 24-hour trip to China for Elon Musk, and a Sunday meeting with Premier Li…
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(Preview) Blinken to China; San Francisco Vision Six Months Later; TikTok; A Scandal for PRC Swimming
8:43
Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with Secretary of State Anthony Blinken's trip to Beijing and Shanghai this week, includin…
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(Preview) Germany’s Hopes for China; Q1 GDP Growth; National Security Day and Transnational Repression; Another TikTok Report
12:31
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill begin with takeaways from the meeting between Xi Jinping and German Chancellor Olaf Scholz, including muted messaging on ov…
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(Preview) Yellen’s Visit to Beijing; PRC Exports and Global Tensions; Finance with Chinese Characteristics; US-Japan-Philippines
14:15
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with takeaways from Secretary of Treasury Janet Yellen's visit to China, including what her meetings may or may not a…
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A Xi-Biden Phone Call; Yellen and PRC Exports; Continued Tension with the Philippines; Tesla and 3 Body Problem
1:04:22
1:04:22
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1:04:22
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with takeaways from Tuesday’s phone call between President Biden and President Xi, including the PRC rhetoric surroun…
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(Preview) MSS on Cybersecurity; Will the Senate Kill the TikTok Bill?; Solar Energy and the PRC Playbook; Liu Jianchao on the Global South
12:05
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill begin with the Ministry of State Security providing its interpretation of the Cybersecurity Law. Topics include: The odd ti…
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(Preview) TikTok in the Crosshairs; Why Divestment Is Unlikely; Special Interests vs. National Interests; US Internet Firms in China
10:52
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill begin with a week of surprising progress for the Protecting Americans from Foreign Adversary Controlled Applications Act. W…
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A 5 percent GDP Growth Target; Evolving Two Sessions Symbolism; US to Investigate Connected Vehicles; New TikTok Legislation
53:59
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with takeaways from the Two Sessions, including the work report from Premier Li Qiang, what to make of the 5% GDP gro…
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(Preview) Preparing for the Two Sessions; Li Shangfu and Qin Gang; The I-SOON Hacking Leaks; Heightened Scrutiny for Musk and SpaceX
11:12
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill begin with an overview of the CPPCC, the NPC and what to expect as the Two Sessions begin this weekend. Topics include: Xi’…
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(Preview) US-China in Vienna and Munich; Hacking and Espionage Allegations; PRC Lobbying in DC; Rep. Gallagher to Depart Congress
9:48
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with recent meetings between US officials and PRC counterparts in Munich and Vienna, including complaints from both D…
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(Preview) Continued Market Adventures; Shifting Trade Patterns with China; Looming Green Energy Questions; Messi and a Hong Kong Mess
12:42
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with another week of volatility in and around the PRC markets, including a crash on Monday, stabilization as the week…
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Hong Kong Article 23; No Plenum and Another Market Setback; Trump and Taiwan; TikTok in Congress
1:03:34
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1:03:34
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill begin with reactions to the revival of Article 23 and thoughts on the landscape in Hong Kong as its laws continue to conver…
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(Preview) Tesla’s Future in China; Chinese EVs Around the World; Moves to Stabilize the Markets; More Questions on the Red Sea
17:02
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill begin with an expanding list of sensitive sites around China at which Tesla vehicles have been deemed a security risk. With…
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(Preview) The Taiwan Election; Markets and GDP Go Opposite Directions; China and the Houthis; Cannabis and Soccer Corruption
14:41
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill begin with last weekend’s election in Taiwan, where William Lai and the DPP retained their hold on the presidency but lost …
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Missiles Filled with Water, Not Fuel; Foreign Affairs Work Conference; Liu Jianchao in New York and DC; US-China Updates
1:06:28
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1:06:28
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with a note about this weekend’s elections in Taiwan before turning back to the upheaval in the PLA. Topics include: …
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(Preview) Big Picture Questions for 2024; Taiwan and the Philippines and Tentative Stability; Our Favorite Memories from 2023
11:26
Give your friends and family the gift of Stratechery Plus. Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill talk through questions and key areas to watch during the year to…
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(Preview) The Central Economic Work Conference; More Friction with the Philippines; Hawks and Doves and Kissinger
10:14
Give your friends and family the gift of Stratechery Plus. Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with thoughts on the readout from the Central Economic Wor…
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Politico’s Rendering of a Xi ‘Purge’; Finance with Chinese Characteristics; Moody’s Works from Home; Secretary Raimondo Warns Chip Companies
1:07:29
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Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill begin by parsing the claims contained in a controversial piece from Politico, including thoughts on the spectrum of rumors …
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(Preview) The Foreign Influencer Ecosystem; Money Flowing Out of China; Xi’s Exit Strategy; A Mao YouTube Controversy
17:32
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism To email the show: email@sharpchina.fm Politburo meeting; No date for Third Plenum; More Party in foreign affairs work; Support for private enterprises; My…
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(Preview) Xi-Biden at APEC; Xi’s Message to the Business Community; Another ‘Dictator’ Comment; Eyes on Taiwan’s Presidential Election
15:23
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism To email the show: email@sharpchina.fm Woodside Summit and the San Francisco Vision; Fentanyl; Real Estate; Applied Materials and SMIC — Sinocism Li Qiang …
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A Stratechery, Sharp Tech, and Sharp China Crossover on the Chip Ban, Taiwan, TikTok and More
1:04:19
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1:04:19
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism After one year of Sharp Tech and Sharp China, a summit with Ben Thompson, Bill Bishop and Andrew Sharp to discuss podcasting, the chip ban, the US-China re…
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(Preview) What Should We Expect at APEC?; Foreign Firms Pull $160 Billion Across Six Quarters; Lee Zhang Detained; Australia Relations 'on the Right Path'
12:44
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today's show Andrew and Bill begin with Xi Jinping’s trip to San Francisco and a likely meeting with President Biden next week. Topics include: A planne…
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Li Keqiang and the Mourning Playbook; Wang Yi in DC and Xi to APEC; Gavin Newsom Goes to China; Rahm Emanuel and Resource Extraction
1:05:49
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1:05:49
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism To email the show: email@sharpchina.fm Li Keqiang; Financial Work Conference; Xi on women; US-China; Xiangshan Forum — Sinocism Xi meets California Governo…
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(Preview) Tension Simmering in the South China Sea; The Five Eyes and More Spies; Foxconn and Jon Stewart; The New Yorker on Xi
25:53
Subscribe to Stratechery Plus to get full episodes of Sharp China, plus Stratechery Updates and Interviews, Sharp Tech, Greatest of All Talk, and Dithering. Bill Bishop is the author of Sinocism On today’s show Andrew and Bill begin with the latest confrontation between the PRC and the Philippines in the South China Sea, clarity as to PRC maritime …
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