Part 3/9:
He observes that Chinese companies are not necessarily competing on the same technological level as Nvidia but are making strides, especially in chips and AI. Earnings multiples for Chinese stocks remain relatively attractive, with low to mid-teens compared to US stocks, which have seen valuation expansions. Still, uncertainties linger, especially considering the long-term geopolitical tensions, and investors are advised to remain cautious about overexposure given these concerns.