This only has happened because CCP is desperate
Tesla has made it onto the procurement list of Jiangsu provincial govt. This only happened after foreign investment into China has fallen for 12 months straight.
This is not CCP has a change of heart. It’s a tactical move trying to reverse the trend. The macro environment has become hostile to investors in general, and foreign investors in particular. Thus, I think the trend is rather irreversible.
Let me share a story: Last week I was in New York. Dinning alone in a yakitori restaurant, I happen to sit next to Jesse Eisenberg. I love his movie “Now you see me”. So, we started to chat. He asked me concerningly, “if I visit China, would I be arrested?”. I was rather stunned by that question. Why would a famous movie star think he would be arrested in China just visiting? But, it also demonstrates how the world generally sees CCP China these days - a dangerous and unpredictable place.
This Tesla inclusion is a tactical move. Tactical moves don’t change fundamentals. And, fundamentals of China have changed.

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