Trump's visit to China ended: a new chapter in the game between China and the United States, and capital will stand in the line again Brothers, Trump's trip to China is finally coming to an end. On the surface, both sides shook hands, signed contracts, and made statements quite lively, but deep down, it was still the familiar tug of war - the thousand year old drama of capital pursuing profits versus national security, which has turned to the page of 2026. During this visit to China, Trump brought a very large business group, and the most talked about were trade, science and technology, and tariffs. The US wants China to buy more American goods and relax access to certain fields; The Chinese side emphasizes mutual benefit and opposes unilateralism. What about the results? The expected gift package did not land, leaving room for both parties. This is similar to the case of the Nvidia H200 chip a few years ago: you can sell it if you want, you can buy it if you want, but there are layers of scrutiny, security checks, shipping requirements, profit sharing... Business that achieves this is no longer purely commercial, but a credit game under geopolitics. In every great power game in history, finance and capital have been the most sensitive barometers. In ancient times, the Sumerians carved clay tablets as promissory notes for the purpose of credit; The medieval ban on interest forced innovation in bills of exchange, which was a tug of war between rules and demand; In the Age of Discovery, capital gambled on new routes in order to make a profit from the price difference; The essence of today's US China trade war is still the same thing - whoever holds the rules holds the direction of capital flows. Trump's consistent style is "the art of trade": high tariff pressure, and then relax. After this visit to China, the market is most concerned about the follow-up: Will tariffs fall in stages? Will the technology control list be fine tuned? How to reprice US dollar assets, Chinese yuan assets, and global supply chains? To put it simply, this is not the end of a simple diplomatic visit, but another signal of the rebalancing of globalization. In the past, everyone focused on efficiency and whoever was cheaper would produce wherever they went; Now we are competing for safety, resilience, and whose supply chain can better withstand risks. Chips need to be 'de risky', cars need to be localized, key minerals need to be diversified... Every time the wall is raised, it forces companies to prepare more and also forces capital to find another exit path. But history has repeatedly proven that pure blockade is never the end. Rome absorbed wealth through open roads, the Netherlands dominated the oceans through trade rules, and the United States rose to power by attracting global capital. Closing the door too tightly will only make the opponent more self reliant, ultimately making the cake smaller and giving everyone a smaller share. For us ordinary investors, the core of this wave of operations is two words: adaptation. Credit is more important than short-term fluctuations. Identify which country and industry has genuine rules endorsed, rather than just looking at who is shouting loudly today. Dispersion is an eternal moat. Don't put all your eggs in one basket, whether it's US stocks, technology stocks, A-shares, Hong Kong stocks, or emerging markets, you should keep positions. Long termism always works. Trump has come and gone, and its policies are sometimes high and sometimes low, but human demand for better technology and higher efficiency will never stop. Computing power AI、 The underlying trends of new energy and supply chain restructuring are more enduring than any visit to China. The Trump plane took off, and the clock of the next round of negotiations between China and the United States began again. This is not the end, but the starting point of a new round of gaming. Brothers, the market is always giving red envelopes to smart people - the key is whether you can see where credit is, where risks are, and where opportunities are amidst the noise.