Hi Tigers, This article mainly focuses on Chinese ADRs with four major risks, two positive perspectives from both China and US market, Long term and shortterm outlooks, when the bear market will ends and how to choose potential winners during recession.Disclamer: The opinions in this article are for exchange only. If you have more questions to this article, welcome to write your comment, Thanks."We're not looking to decouple from China. We're looking to reduce risk and diversify our relationship with China," U.S. President Joe Biden told a news conference after the G7 leaders' summit on Sunday. The G7 group has reached an agreement on China, and Biden has hinted that he may soon meet with the Chinese president.The communication with China and easing of relations are bound to be necessary a

China's growth has finally bottomed out, and a rare increase in the deficit this year suggests better prospects for growth in the near term. In 2024, we expect GDP growth of 4.5%, a balance between economic growth and deleveraging, while waiting for more policy signals. While more infrastructure stimulus should mitigate downside risks, sharp structural problems such as underconsumption and debt deleveraging will still take time and more difficult policy decisions to address.Therefore, we do not think that China's foreign exchange and interest rates will shine. If the strong dollar trend continues, the need to restructure debt while keeping domestic interest rates low will continue to limit the exchange rate of RMB. We expect only a mild bull steep rebound in RMB interest rates. With the is

$Sea Ltd(SE)$ attract my eyes agian.$Sea Ltd(SE)$ stage 2 breakout on deck. 1.5B stock, I like it when it moves.Image $Sea Ltd(SE)$ is transforming the business successfully into a cash flow machine, proving its gaming franchise is evergreen, cementing its e-commerce dominance, and growing its fintech at 20%+ durably. At a $2B free cash flow run rate and a $9B cash pile, the stock is priced for more upside at 21x FCF.Cite from Riyado Sofian: “At $77, rate cuts, Free Fire India relaunch, and margin expansion due to products like advertising, have not been priced in. Trading at only 3x its Revenue, SE stock still has plenty of upside.”- Diversification - Exposure to Asia

4.Outlook for the Next Steps"Currently, the US economy faces both short-term and long-term challenges. In the short term, inflation in energy, food, real estate, and the service industry continues to rise. The Federal Reserve certainly cannot cut interest rates now, and the earliest possibility would be in June. This year is also an election year in the United States. According to convention, with the election scheduled for early November, the Fed can only stay put in September and October, regardless of whether it's cutting or maintaining interest rates. Any changes in monetary policy during the two months before the election will be labeled as "politicizing monetary policy." As an independent institution authorized by the US Congress, the Fed will never be dragged into political turmoil.