[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]

# ![@GlennLuk Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::111782814.png) @GlennLuk Glenn

Glenn posts on X about china, investment, countries, accounting the most. They currently have XXXXXX followers and XXX posts still getting attention that total XXXXXX engagements in the last XX hours.

### Engagements: XXXXXX [#](/creator/twitter::111782814/interactions)
![Engagements Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::111782814/c:line/m:interactions.svg)

- X Week XXXXXXX +166%
- X Month XXXXXXXXX +129%
- X Months XXXXXXXXX -XX%
- X Year XXXXXXXXXX +40%

### Mentions: XXX [#](/creator/twitter::111782814/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::111782814/c:line/m:posts_active.svg)

- X Week XXX +97%
- X Month XXX +40%
- X Months XXXXX -XX%
- X Year XXXXX +3.50%

### Followers: XXXXXX [#](/creator/twitter::111782814/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::111782814/c:line/m:followers.svg)

- X Week XXXXXX +1.80%
- X Month XXXXXX +3%
- X Months XXXXXX +9.20%
- X Year XXXXXX +78%

### CreatorRank: XXXXXXX [#](/creator/twitter::111782814/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::111782814/c:line/m:influencer_rank.svg)

### Social Influence [#](/creator/twitter::111782814/influence)
---

**Social category influence**
[countries](/list/countries)  XXXX% [finance](/list/finance)  XXXXX% [technology brands](/list/technology-brands)  XXX% [stocks](/list/stocks)  XXXX% [travel destinations](/list/travel-destinations)  #4870 [automotive brands](/list/automotive-brands)  #2752 [celebrities](/list/celebrities)  XXXX%

**Social topic influence**
[china](/topic/china) #592, [investment](/topic/investment) #2259, [countries](/topic/countries) #1103, [accounting](/topic/accounting) #149, [asml](/topic/asml) #9, [has been](/topic/has-been) 2.91%, [beijing](/topic/beijing) #42, [gdp](/topic/gdp) #53, [over the](/topic/over-the) #1391, [netherlands](/topic/netherlands) #593

**Top accounts mentioned or mentioned by**
[@joequant](/creator/undefined) [@benbawan](/creator/undefined) [@zephyrz9](/creator/undefined) [@teortaxestex](/creator/undefined) [@gonglei89](/creator/undefined) [@abcampbell](/creator/undefined) [@wije73381133](/creator/undefined) [@lithosgraphein](/creator/undefined) [@tomhajjar](/creator/undefined) [@cnmnguyen](/creator/undefined) [@stevenglinert](/creator/undefined) [@gdp1985](/creator/undefined) [@industrlpolicy](/creator/undefined) [@marxistcham](/creator/undefined) [@thegrandavide](/creator/undefined) [@mattdberk](/creator/undefined) [@zephyr_z9](/creator/undefined) [@zzbar](/creator/undefined) [@mlppxy9alm](/creator/undefined) [@hsusteve](/creator/undefined)

**Top assets mentioned**
[Alphabet Inc Class A (GOOGL)](/topic/$googl)
### Top Social Posts [#](/creator/twitter::111782814/posts)
---
Top posts by engagements in the last XX hours

"The difference is even larger using capital stock estimates provided by the IMF (Model 2). IMF uses even more basic depreciation assumptions for its capital stock estimates assuming flat rates depending on the developmental category of an economy"  
[X Link](https://x.com/GlennLuk/status/1752187042220638280) [@GlennLuk](/creator/x/GlennLuk) 2024-01-30T04:28Z 26.7K followers, 3168 engagements


"This is compelling evidence that getting depreciation rates correct (and recognizing changing capital mix) has a major impact on capital stock TFP and the Solow growth accounting model"  
[X Link](https://x.com/GlennLuk/status/1752187044774961485) [@GlennLuk](/creator/x/GlennLuk) 2024-01-30T04:28Z 26.7K followers, 9404 engagements


"If they are unable to obtain a waiver they will have to then "design in" an alternative chip (e.g. from Broadcom) for their products (again often mature products) to be able to continue selling. Given the enhanced safety requirements of automotive/industrial/power the effort here will be similar to redesigning the product from scratch"  
[X Link](https://x.com/GlennLuk/status/1978449344291389897) [@GlennLuk](/creator/x/GlennLuk) 2025-10-15T13:14Z 26.7K followers, 2307 engagements


"The new rules that The Netherlands has put in place are effectively to regain control over certain sectors. This is rolling back the "unrestricted free trade" environment that dominated the post-Cold War period. These are also rules that China itself has in place expressly to do the same thing that The Netherlands now wants. So it should not and has not to my knowledge disputed the validity of the new rules. In the Nexperia case it is primarily concerned about retroactive application of those rules"  
[X Link](https://x.com/GlennLuk/status/1979510911585939953) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T11:32Z 26.7K followers, 2512 engagements


"@abcampbell The split with The Netherlands is going to be roughly 1:1 if measured by end demand (non-China vs. China) but relative pain will be higher for the EU (and much much higher for the directly impacted countries e.g. the Netherlands and Germany where fabs and end-demand is located"  
[X Link](https://x.com/GlennLuk/status/1980352159951778296) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T19:15Z 26.7K followers, 1191 engagements


"That said the American approach cannot be a carbon copy of Chinas approach. The challenge will be figuring how to build up comprehensive societal capacity in a way that is authentically American and true to its strengths while mitigating weaknesses. This will not be easy; there are no shortcuts and there is significant fog of war. Divided politics also make pushing forward true structural reform difficult"  
[X Link](https://x.com/GlennLuk/status/1980381839597453537) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T21:13Z 26.7K followers, XXX engagements


"@gdp1985 My point is that there is a certain amount of volatility / divergence between the two semi-correlated data series in the past but was the volatility so pronounced in Q3 to be able to attribute it to a specific event like anti-involution vs. just acknowledging how the mystery"  
[X Link](https://x.com/GlennLuk/status/1980458275515900061) [@GlennLuk](/creator/x/GlennLuk) 2025-10-21T02:17Z 26.7K followers, XXX engagements


"@tphuang Your call on Li Auto last year this time was spot on. The other notable thing about Xiaomi is that automotive gross margin is now in the XX% range in Q2. And this is only going to ramp with YU7 ramping. Xiaomi's auto division will be profitable in 2026 maybe even by this Q4"  
[X Link](https://x.com/GlennLuk/status/1973363694424998165) [@GlennLuk](/creator/x/GlennLuk) 2025-10-01T12:25Z 26.7K followers, XXX engagements


"It's always helpful to understand the "variant view" and I'd encourage you to read Alex's for his. I DM'ed him why I thought this one was flawed in supporting the prediction of a 2027-2030 crisis point. Here are the key points: X Systemic risk from the property and LGFV sector have been contained X American MNCs make more money off China than vice versa X There are more vulnerabilities beyond rare earths X Assumption of stasis in China's efforts to catch-up in its areas of vulnerability (advanced chips global financial system) X Last but probably most significantly: ignoring what have"  
[X Link](https://x.com/GlennLuk/status/1978094327348785615) [@GlennLuk](/creator/x/GlennLuk) 2025-10-14T13:43Z 26.7K followers, 58.7K engagements


"Brads underlying thesis here is to prove that Chinas economy relies on foreign demand to grow but actually what the last X years of data shows is consumption and net exports as offsetting trends. When contributions from net exports fall consumption rises. When net exports rises consumption contribution falls. We can ignore the weird pandemic period where everything got messed up. But prior to the pandemic consumption was steady and driving the majority of GDP contribution. This indicates other much more significant inputs (both endogenous and exogenous) at play beyond the foreign demand"  
[X Link](https://x.com/GlennLuk/status/1980237803888754763) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T11:40Z 26.7K followers, 58.2K engagements


"I've been talking about "Man with the Hammer" syndrome that the late Charlie Munger loved to discuss. For Brad it's this myopic focus on one component of the economy that represents less than X% of GDP. You end up missing the forest for one tree"  
[X Link](https://x.com/GlennLuk/status/1980260549486092748) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T13:11Z 26.7K followers, 32.9K engagements


"@Brad_Setser Unsupported by the data. China "relies" far less on trade than these smaller surplus countries:"  
[X Link](https://x.com/GlennLuk/status/1980328920324120775) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T17:43Z 26.7K followers, 2374 engagements


"Would add NX itself is a flawed proxy in this context b/c it does not include trade that flows through the FDI income account (where China runs a structural deficit). So Brad's original chart itself exaggerates China's "reliance on external demand""  
[X Link](https://x.com/GlennLuk/status/1980330521105514898) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T17:49Z 26.7K followers, 1379 engagements


"Further NX itself data is based on GACC/Customs data which overstates the surplus by the "factoryless manufacturing" adjustment"  
[X Link](https://x.com/GlennLuk/status/1980330708423033248) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T17:50Z 26.7K followers, 2795 engagements


"This was a complex/nuanced discussion on "overcapacity". Thanks for writing it @wstv_lizzi as it is an important topic. It presented a number of interesting ideas which make sense on their own but I struggled to tie them together under a "grand unifying narrative" related to the "China Model". The challenge of the "overcapacity" narrative is trying to use it to summarize "China Model" into a neat compact narrative. But trying to summarize something as complex as China's economy into a neat model is exceedingly difficult. (as an aside the piece read like a writer struggling to force-fit an"  
[X Link](https://x.com/GlennLuk/status/1980620186878165008) [@GlennLuk](/creator/x/GlennLuk) 2025-10-21T13:00Z 26.7K followers, 24.9K engagements


"First the data: Very clear the changing mix of capital investment from shorter-lived factory machine type assets (business) to housing and infrastructure over the past XX years"  
[X Link](https://x.com/GlennLuk/status/1738901626323120478) [@GlennLuk](/creator/x/GlennLuk) 2023-12-24T12:37Z 26.7K followers, 6028 engagements


"This is true. China's rare earths supply can be replaced. But you can say the same thing about advanced chipmaking. Thus more relevant question is: Will the U.S. be able to secure rare earths processing capacity before China develops self-sufficiency in advanced node chips"  
[X Link](https://x.com/GlennLuk/status/1915416723307597972) [@GlennLuk](/creator/x/GlennLuk) 2025-04-24T14:45Z 26.7K followers, 151.8K engagements


"Some emerging 2025 themes in China's EV sector: BYD struggling to maintain growth momentum. This appears to be related to rising competition from its direct competitors in the "mass market affordable" class particularly Geely Leapmotor and Chery. Li Auto which has been one of the early success stories is struggling due to new competition entering their core MPV space. In the premium segment Xpeng and Xiaomi have the most momentum battling not only with Tesla but Huawei's HIMA lineup of SOE car brands"  
[X Link](https://x.com/GlennLuk/status/1962877970055385259) [@GlennLuk](/creator/x/GlennLuk) 2025-09-02T13:59Z 26.7K followers, 43.5K engagements


"I hear over and over again how there are "100-150" Chinese EV firms and "only a handful are profitable". This is BS and highly misleading. The people who cite these figures can never seem to name even a fraction of these firms . . because they are mindless parrots who are unwilling or incapable of doing their own work to check out basic factual claims or provide highly relevant context"  
[X Link](https://x.com/GlennLuk/status/1971913037763252269) [@GlennLuk](/creator/x/GlennLuk) 2025-09-27T12:21Z 26.7K followers, 88.8K engagements


"The "overinvestment" thesis carries a rather elitist conceit: that one billion Chinese people at this current standard of living (or below) don't deserve or should delay full development. You simply cannot move beyond this standard without significant gross capital formation i.e. meaning vast quantities of concrete steel energy and construction investment"  
[X Link](https://x.com/GlennLuk/status/1972605600929374663) [@GlennLuk](/creator/x/GlennLuk) 2025-09-29T10:13Z 26.7K followers, 115K engagements


"This data also helps put in perspective the relative amount of "investment" that has been allocated to different modes of transport. For example there is about $1T of invested capital in the national rail network (which includes freight)"  
[X Link](https://x.com/GlennLuk/status/1976254533291364383) [@GlennLuk](/creator/x/GlennLuk) 2025-10-09T11:52Z 26.7K followers, XXX engagements


"Google token update now 43T per day up 4x from just a few months ago"  
[X Link](https://x.com/GlennLuk/status/1976344553113391462) [@GlennLuk](/creator/x/GlennLuk) 2025-10-09T17:50Z 26.7K followers, 3611 engagements


"@zephyr_z9 Crypto fell like 10-15% so wipeouts mean many folks were 85-90% leveraged"  
[X Link](https://x.com/GlennLuk/status/1977484590622159101) [@GlennLuk](/creator/x/GlennLuk) 2025-10-12T21:20Z 26.7K followers, 1665 engagements


"Elementary chart reading skills would tell you that the US has systematically "fallen in love" with Vietnamese goods over the last XX years. If you change the y-axis to logarithmic and flatten seasonality Vietnam's line is virtually straight with a bump in 2008-9 and 2020-22"  
[X Link](https://x.com/GlennLuk/status/1977734117740462194) [@GlennLuk](/creator/x/GlennLuk) 2025-10-13T13:52Z 26.7K followers, 21K engagements


"Addendum: This violently ends the short-lived fantasy that there was no linkage between the 9/29 BIS entity rule modification and the Nexperia takeover by explicitly linking the two"  
[X Link](https://x.com/GlennLuk/status/1978061918658081236) [@GlennLuk](/creator/x/GlennLuk) 2025-10-14T11:34Z 26.7K followers, 7229 engagements


"U.S. MNCs make very high RoIC on relatively low onshore FDI investment in China"  
[X Link](https://x.com/GlennLuk/status/1978094353038946384) [@GlennLuk](/creator/x/GlennLuk) 2025-10-14T13:43Z 26.7K followers, 2354 engagements


"High likelihood of finding out soon that to secure domestic supply without access to the latest Chinese IP know-how and specialized equipment we are going to have to "brute force" it i.e. starting from scratch similar to where China was XX years ago"  
[X Link](https://x.com/GlennLuk/status/1978126118285721834) [@GlennLuk](/creator/x/GlennLuk) 2025-10-14T15:49Z 26.7K followers, 3432 engagements


"We don't need Chinese idioms to pierce the mystical veil. China's really not that hard to read on the trade/tech war: It laid out its position very clearly and directly in April and its reactions/responses have been highly predictable"  
[X Link](https://x.com/GlennLuk/status/1978141218627280947) [@GlennLuk](/creator/x/GlennLuk) 2025-10-14T16:49Z 26.7K followers, 28.8K engagements


"Massive solar deployments convert erstwhile barren land with minimal economic value into some of the most productive real estate in the country"  
[X Link](https://x.com/GlennLuk/status/1978625292370432428) [@GlennLuk](/creator/x/GlennLuk) 2025-10-16T00:53Z 26.7K followers, 15.4K engagements


"Bytedance daily token update 30T per day on its Volcano platform"  
[X Link](https://x.com/GlennLuk/status/1978781633613295752) [@GlennLuk](/creator/x/GlennLuk) 2025-10-16T11:14Z 26.7K followers, 1567 engagements


"That is why the nature of the collateral is also important. The credit boom in China the last two decades has been underpinned by the formation of long-term assets like buildings highways bridges and railway that have very long useful lives. They are hard tangible assets which usually have fairly high asset recovery rates (especially if measured against debt with equity taking the brunt of the losses)"  
[X Link](https://x.com/GlennLuk/status/1978790646908416349) [@GlennLuk](/creator/x/GlennLuk) 2025-10-16T11:50Z 26.7K followers, 1046 engagements


"But these flaws do not take away from the fundamental concept that there are checks and balances in China's large bureaucracy. Local government officials have incentives to perform and for a long time that was measured in GDP growth. But central government officials incentives are to make sure that the GDP growth is accurate and high-quality. And they have tools to enforce this like control over local government budgets and various levers via national SOEs and organizations like NDRC (which often have their own central vs. local matrix organizational structures)"  
[X Link](https://x.com/GlennLuk/status/1978799334377345248) [@GlennLuk](/creator/x/GlennLuk) 2025-10-16T12:25Z 26.7K followers, XXX engagements


"Alex talks about the "Employment Bomb" but the reality is that the real estate sector has already gone through the bulk of the structural correction"  
[X Link](https://x.com/GlennLuk/status/1978800846075814005) [@GlennLuk](/creator/x/GlennLuk) 2025-10-16T12:31Z 26.7K followers, XXX engagements


"Indeed I've built an alternative model based on this framework (TSF correlated to accumulated capital stock) that predicts that TSF/GDP peaking in the 2027-29 time frame at XXX% (from XXX% in 2024) and then gradually declining to XXX% by 2035"  
[X Link](https://x.com/GlennLuk/status/1978841360414249439) [@GlennLuk](/creator/x/GlennLuk) 2025-10-16T15:12Z 26.7K followers, 1329 engagements


"The key assumptions here are: Real GDP growth of 4.6-5.1% from 2025-2030 and 3.9-4.6% from 2031 to 2035. Capital intensity (GFCF as a % of GDP) declining from XX% in 2025 to XX% by 2035"  
[X Link](https://x.com/GlennLuk/status/1978841362746180092) [@GlennLuk](/creator/x/GlennLuk) 2025-10-16T15:12Z 26.7K followers, 1224 engagements


"@zephyr_z9 Would really want to understand just how/whether BABA's investments in AI are what is driving market share gains in delivery - and whether Meituan's investment in LLMs was a belated realization of that"  
[X Link](https://x.com/GlennLuk/status/1979171848383275164) [@GlennLuk](/creator/x/GlennLuk) 2025-10-17T13:05Z 26.7K followers, XXX engagements


"@tomhajjar @CNMNguyen It doesnt need to replace China to prosper. Also it is getting investment from Korea Japan Taiwan and other countries. China is second to Korea in cumulative FDI still IIRC. A fraction of Chinese production goes a long way in any smaller country"  
[X Link](https://x.com/GlennLuk/status/1979301494433419368) [@GlennLuk](/creator/x/GlennLuk) 2025-10-17T21:40Z 26.7K followers, 1262 engagements


"@CNMNguyen @tomhajjar Vietnam has been the most aggressive / successful out of the ASEAN countries attracting FDI and corresponding tech/knowledge transfer"  
[X Link](https://x.com/GlennLuk/status/1979303110112862383) [@GlennLuk](/creator/x/GlennLuk) 2025-10-17T21:46Z 26.7K followers, XXX engagements


"@StevenGlinert EUV path more likely to come from non-SMIC foundry. SMIC is no longer the national foundry champion. Huawei (affiliate) has taken up that banner"  
[X Link](https://x.com/GlennLuk/status/1979336926848327723) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T00:01Z 26.7K followers, 2403 engagements


"@StevenGlinert Huawei affiliate will be an independent foundry model. Maybe Huawei will also have an internal advanced node fab but I dont know"  
[X Link](https://x.com/GlennLuk/status/1979339243161031146) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T00:10Z 26.7K followers, XXX engagements


"Note: Ive never made this accusation and been clear that Lithos mental block is the man with the hammer syndrome; and specifically the blind spot on China. This is quite common and I see this all the time. SemiAnalysis also had this hole before but to its credit it appears to be investing in building the team to rectify and it shows in their more recent work"  
[X Link](https://x.com/GlennLuk/status/1979493663106310419) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T10:24Z 26.7K followers, 4921 engagements


"There's also the ongoing process of reserving/writing-off bad debt that is absorbed by the banking system. Banking revenue includes a provision for bad debts that can be used to absorb them. Statutory bank equity levels are calculated after reserves. Now there is the possibility that Chinese banks are under-reserving but regardless his analysis needs to take into account the accumulation of write-offs that have been taken and the remaining reserves built into bank equity balance sheets"  
[X Link](https://x.com/GlennLuk/status/1979505590146678969) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T11:11Z 26.7K followers, 1057 engagements


"@aphysicist Beating ASML/TSMC = achieving EUV (HVP)"  
[X Link](https://x.com/GlennLuk/status/1979618678607085657) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T18:40Z 26.7K followers, 2975 engagements


"But being wowed by the science part is not a strong defense. China has already figured out the science part @gonglei89 . Its the engineering part doing it at high enough speed/consistency/accuracy that it is still working on"  
[X Link](https://x.com/GlennLuk/status/1979624854736298106) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T19:05Z 26.7K followers, 2525 engagements


"@gonglei89 Like he has done in prior posts @lithos_graphein effectively lays out his thesis of why others will never be able to catch up to ASML in lithography"  
[X Link](https://x.com/GlennLuk/status/1979669640491216898) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T22:03Z 26.7K followers, 2117 engagements


"@gonglei89 Yeah I think it's hard to say. I think in the world of commercial machines (that make things) EUV is objectively at the pinnacle. Advanced jet engines are at their pinnacle but in another category. And at this point it's like comparing Michael Jordan to Shohei Ohtani"  
[X Link](https://x.com/GlennLuk/status/1979681605359915378) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T22:50Z 26.7K followers, XXX engagements


"He claims I'm not debating in good faith yet he's clearly deflecting the core issue. Calling out deliberate avoidance is not "needlessly rude" it's necessary to move the conversation forward. Rush you are a coward. Shameful"  
[X Link](https://x.com/GlennLuk/status/1979692084203561221) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T23:32Z 26.7K followers, 4499 engagements


"@twittwoods @RajaKorman You do have a nice baritone voice - I listened to the podcast"  
[X Link](https://x.com/GlennLuk/status/1979708150665351536) [@GlennLuk](/creator/x/GlennLuk) 2025-10-19T00:36Z 26.7K followers, XXX engagements


"Forgot about ball bearings for ballpoint pens too"  
[X Link](https://x.com/GlennLuk/status/1979765806134358371) [@GlennLuk](/creator/x/GlennLuk) 2025-10-19T04:25Z 26.7K followers, 10.9K engagements


"By the way my sense is that it has taken on religious undertones for Chinese people too. Perhaps the difference is the psychological impact of pushing expectations back vs. expectations being shattered. Like waiting patiently for the Second Coming vs. the day it were to actually arrive. Relative equanimity in the first case. Utter chaos in the second"  
[X Link](https://x.com/GlennLuk/status/1979871139124957542) [@GlennLuk](/creator/x/GlennLuk) 2025-10-19T11:23Z 26.7K followers, 4242 engagements


"Also China has agency here. Its scientists and engineers are working on projects like Everest towards an identifiable and measurable goal: mass production of advanced silicon. While the believers in the West can just watch and wait with virtually no ability to affect the outcome"  
[X Link](https://x.com/GlennLuk/status/1979872006171484643) [@GlennLuk](/creator/x/GlennLuk) 2025-10-19T11:27Z 26.7K followers, 7746 engagements


"Re: static vs. dynamic economic models. Pettis insistence and long track record of using accounting identities as the key exogenous input into his economic modeling reveals thus core view"  
[X Link](https://x.com/GlennLuk/status/1980229572265402435) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T11:08Z 26.7K followers, XXX engagements


"Well put out some predictions e.g. do you think the U.S. will gain self-sufficiency in all the various REEs (not to mention non-REE inputs like gallium) more quickly than China gets self-sufficiency in advanced chips fabrication And since you are from India what is India's strategy here and what is the predicted timeline to self-sufficency"  
[X Link](https://x.com/GlennLuk/status/1980249558220149188) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T12:27Z 26.7K followers, XX engagements


"@StevenGlinert @abcampbell Oh and btw it's worth pointing out that China is quite good at recycling too"  
[X Link](https://x.com/GlennLuk/status/1980253258082881807) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T12:42Z 26.7K followers, 1697 engagements


"No the fundamental problem is a human capital one related to (i) supply of fundamental STEM skillsets required and (ii) selection biases that funnel top engineers into other sectors. It's not that Americans are less intelligent less hard-working less capable. It's that rare earths refining and processing is a low prestige-job in America with poor economics (so low pay) and requires you to spend lots of time out in barren areas away from the comforts of modern life"  
[X Link](https://x.com/GlennLuk/status/1980255046114632073) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T12:49Z 26.7K followers, 1288 engagements


"@mattdberk Oh wow great analogy and thanks for sharing. I know in medicine that the highest-pay jobs in elite professions like cardiology are not in the big cities probably for the same reason"  
[X Link](https://x.com/GlennLuk/status/1980258417714319671) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T13:02Z 26.7K followers, XX engagements


"@jenzhuscott There should be a running scorecard for accounts where you get -XX points if you say something that is later proven to be demonstrably false and +1 point for getting predictions right"  
[X Link](https://x.com/GlennLuk/status/1980293551624994966) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T15:22Z 26.7K followers, XXX engagements


"But R&D and technology is not gross capital formation and thus not "capital-intensive". That's the difference between layman definitions of "investment" and "consumption" and GDP accounting definitions. The folks citing China's "low consumption" are basing it off the accounting definition but do not know why/how it differs from the layman definition"  
[X Link](https://x.com/GlennLuk/status/1980332063111717202) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T17:55Z 26.7K followers, XXX engagements


"@gedawei Would you please elaborate Curious to hear your thoughts on how it will affect capital intensity (as defined in the GDP accounting context)"  
[X Link](https://x.com/GlennLuk/status/1980332434836320650) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T17:56Z 26.7K followers, XX engagements


"Ok @abcampbell has released Chapter 3: I actually quite like the first two sections about the "divorce" and the analogy (UK-Britain in the late 19th century)"  
[X Link](https://x.com/GlennLuk/status/1980348368061886916) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T19:00Z 26.7K followers, XXX engagements


"@abcampbell The key area I would disagree with is the relative leverage and this chart. While it shows a $2T and 3:1 leverage ratio of the U.S. over China it is missing the biggest source of financial leverage - U.S. MNC sales to the domestic Chinese economy"  
[X Link](https://x.com/GlennLuk/status/1980348870543778101) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T19:02Z 26.7K followers, XXX engagements


"This component is relatively easy to calculate - it's the share of enterprise value attributable to business/operating income generated by U.S. firms in China which mostly goes away in the scenarios Alex is contemplating. We can figure this out by (i) figuring out operating income of U.S. MNCs in China and (ii) applying a market multiple"  
[X Link](https://x.com/GlennLuk/status/1980349279169356165) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T19:03Z 26.7K followers, XXX engagements


"(i) U.S. MNCs generate $100B of operating income off their China sales. This is corroborated by bottoms-up data on the largest U.S. MNCs operating in China as well as data directly from U.S. BEA itself"  
[X Link](https://x.com/GlennLuk/status/1980349657747165590) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T19:05Z 26.7K followers, XXX engagements


"@arpitrage Like when New Coke reminded us how much we liked Coca Cola Classic"  
[X Link](https://x.com/GlennLuk/status/1980378112987959418) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T20:58Z 26.7K followers, XXX engagements


"@RambutanRed I do agree that one needs to look at trade balance gross exports only capture one side. The problems with NX are those that I itemized above. Current account balance is the best metric for measuring reliance on foreign demand IMO"  
[X Link](https://x.com/GlennLuk/status/1980404607546454276) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T22:43Z 26.7K followers, XXX engagements


"That was quick. Beijing responds within XX hours restricting exports of its chips fabricated in its China fabs. This is likely to draw in more countries (Germany Philippines Malysia UK) as its operations span the globe"  
[X Link](https://x.com/GlennLuk/status/1978065179242897465) [@GlennLuk](/creator/x/GlennLuk) 2025-10-14T11:47Z 26.7K followers, 11K engagements


"To characterize the primary reason for the takeover as "financial misconduct" ignoring that the the "financial misconduct" was directly linked to Wingtech's addition to the Entity List is highly misleading and disingenuous"  
[X Link](https://x.com/GlennLuk/status/1978434313227043084) [@GlennLuk](/creator/x/GlennLuk) 2025-10-15T12:14Z 26.7K followers, 2858 engagements


"Companies that have wholly owned subsidiaries can typically appoint directors and indirectly executvies. The owners generally have unrestricted access to funds. Wingtech paid $3B+ in 2018 for that right"  
[X Link](https://x.com/GlennLuk/status/1978434315005333703) [@GlennLuk](/creator/x/GlennLuk) 2025-10-15T12:14Z 26.7K followers, 4099 engagements


"My sense is that the focus on EUV lithography has taken on religious undertones and I am afraid it risks leaving the collective West psychologically unprepared. I am actually quite worried that if China achieves another unexpected breakthrough the resulting disappointment would be devastating and even more damaging than its prior breakthroughs driven by the perception of EUV as the technology "last stand""  
[X Link](https://x.com/GlennLuk/status/1979679573324263609) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T22:42Z 26.7K followers, 166.5K engagements


"We are now starting to see unmistakeable evidence of this significant trajectory shift in global trade and development patterns with emerging/developing countries often moving just as fast in areas where Chinese advanced tech/manufacturing has leapfrogged Western incumbents"  
[X Link](https://x.com/GlennLuk/status/1980267474227478713) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T13:38Z 26.7K followers, 1776 engagements


"More on the "new" (since 2023) "Retail Sales of Services" data series (which few analysts pickup I'm guessing for many of them because it forces them to confront the discomfort inherent in updating priors)"  
[X Link](https://x.com/GlennLuk/status/1980283069857759279) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T14:40Z 26.7K followers, 1669 engagements


"But one obvious fix is examining the entrenched incentives that make it difficult for industrial and manufacturing companies to gain access to the STEM-oriented workforce they need to start rebuilding domestic supply chains and production capacity"  
[X Link](https://x.com/GlennLuk/status/1980381843099926840) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T21:13Z 26.7K followers, 2176 engagements


"Related: Pettis was ofc one of the biggest proponents on this damaging narrative that China didnt have the institutional capacity required to absorb so much investment. First he was misunderstanding/misapplying the AJR thesis (that won them the Nobel Prize last year). But second and more importantly this sounds increasingly ridiculous as time goes on and many of these investments are paying off"  
[X Link](https://x.com/GlennLuk/status/1980387684209004942) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T21:36Z 26.7K followers, 3057 engagements


"@joequant Yes I think the U.S. really needs more self-introspection and define what the goal is"  
[X Link](https://x.com/GlennLuk/status/1980687285525065850) [@GlennLuk](/creator/x/GlennLuk) 2025-10-21T17:27Z 26.7K followers, XXX engagements


"And there is also increasing evidence that NBS general approach to measuring GDP is conservative compared to other countries. Beijings overall m.o. appears to be a conservative approach not an aggressive one"  
[X Link](https://x.com/GlennLuk/status/1980717694094639558) [@GlennLuk](/creator/x/GlennLuk) 2025-10-21T19:27Z 26.7K followers, 1796 engagements


"@RyanFedasiuk Addendum: Im still processing this from @balajis but I think trying to understand Chinese psyche which requires viewing the Chinese population as social creatures and not simply a faceless abstract idea will be important in the coming years"  
[X Link](https://x.com/GlennLuk/status/1980720467511275894) [@GlennLuk](/creator/x/GlennLuk) 2025-10-21T19:38Z 26.7K followers, 3151 engagements


"To be clear: why I referenced @balajis post is because it really made me think about the parallels he drew. In the context of this thread perhaps the point is that we have a tendency to think of geopolitical or domestically political competitors as abstract concepts and need to remind ourselves that they are made up of people like us. In that sense it is important to understand the personal side to be able to step into the shoes of another. Maybe China is more MAGA than MAGA (again still processing this) but the thing that stands out is this idea that we are sometimes more like people sitting"  
[X Link](https://x.com/GlennLuk/status/1980727370119295033) [@GlennLuk](/creator/x/GlennLuk) 2025-10-21T20:06Z 26.7K followers, 2048 engagements


"I put "consumption" in quotes because all economic activity captures in GDP eventually turns into (conceptual) consumption. "Investment" is merely capitalized consumption and the difference between C and I is merely accounting in nature. That is why it's less confusing to use the term "expenditures" instead of "consumption" because this confuses people who do not pickup on the subtle differences between the layman's understanding of consumption and the GDP accounting-based definition"  
[X Link](https://x.com/GlennLuk/status/1980299472019095796) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T15:46Z 26.7K followers, 1436 engagements


"I attempted to explain the common conflation between the layman's conception of "consumption" and the GDP accounting-based definition of "consumption" in this piece from last year:"  
[X Link](https://x.com/GlennLuk/status/1980299775951139042) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T15:47Z 26.7K followers, 1481 engagements


"(ii) The current P/E multiple on the S&P XXX is 25-30x on a trailing basis corresponding to a 15-20x EV/operating income multiple. Applying this multiple to the earnings stream from (i) yields attributable market cap of approximately $1.5-2 trillion"  
[X Link](https://x.com/GlennLuk/status/1980350388952821790) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T19:08Z 26.7K followers, XXX engagements


"Retail Sales of Services was up XXX% YoY in the 1H 2024"  
[X Link](https://x.com/GlennLuk/status/1822093252167643464) [@GlennLuk](/creator/x/GlennLuk) 2024-08-10T02:10Z 26.7K followers, 3356 engagements


"There have been some other past threads on this but I now notice that Alex's posts have been deleted. Here is one from a year ago: Anyway I think Alex is making unreasonable outlier assumptions on one of the key support pillars for his hypothesis"  
[X Link](https://x.com/GlennLuk/status/1978094345182994485) [@GlennLuk](/creator/x/GlennLuk) 2025-10-14T13:43Z 26.7K followers, 2669 engagements


"Another signal/indicator that Chinese fabs/foundries are gaining confidence in viability of domestic lithography solutions as replacements for the remaining (more mature) product lines ASML is allowed to sell to China"  
[X Link](https://x.com/GlennLuk/status/1978466259361497449) [@GlennLuk](/creator/x/GlennLuk) 2025-10-15T14:21Z 26.7K followers, 38.3K engagements


"I would disagree. I think good-faith engagement and making an effort to understand the other side's argument improves debate especially if it can be deconstructed into objective/measurable data/analysis. I think it also helps that Alex and I have met up IRL and I find him to be very likeable in person"  
[X Link](https://x.com/GlennLuk/status/1979506028199747687) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T11:13Z 26.7K followers, XXX engagements


"Reading comprehension issue: Beating ASML is not the same as achieving EUV (at HVP) I dont expect China to catch up to ASML soon (by 2030 or even 2035). I do expect it to achieve EUV at HVP per the specs above. By 2045 Who the F knows"  
[X Link](https://x.com/GlennLuk/status/1979623681006739916) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T19:00Z 26.7K followers, 10.4K engagements


"@StevenGlinert @teortaxesTex I learned the value of unpleasant truths when I started playing fantasy baseball and found the consistent disappointment of being a NY Mets fan detrimental to my fantasy baseball ambitions"  
[X Link](https://x.com/GlennLuk/status/1979872601540616495) [@GlennLuk](/creator/x/GlennLuk) 2025-10-19T11:29Z 26.7K followers, 4136 engagements


"More analysis on the history of Nexperia dating back to its days as the "Standard Products" division in Philips Semiconductor"  
[X Link](https://x.com/GlennLuk/status/1979950487332884764) [@GlennLuk](/creator/x/GlennLuk) 2025-10-19T16:39Z 26.7K followers, 2500 engagements


"Economies are dynamic not static And once again this thinking ignores how productivity gains are an exogenous input into this dynamic system"  
[X Link](https://x.com/GlennLuk/status/1980229568603795846) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T11:08Z 26.7K followers, 5774 engagements


"In the GDP calculation under the expenditures approach (GDP = C + I + NX "expenditures" (a.k.a. "Consumption") is co- or inter-dependent with "gross capital formation" (a.k.a. "Investment") with only the small component of "Net eXports" as the other variable. IOW changes in "capital intensity" (measured here as GFCF as a % of GDP) necessarily reflect opposite changes in "consumption""  
[X Link](https://x.com/GlennLuk/status/1980298499502612660) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T15:42Z 26.7K followers, 1574 engagements


"These long-term trends become even easier to understand for laypeople if we venture outside the very abstract world of macroeconomics into the real world and think in terms of the key production unit in the modern economy: the worker"  
[X Link](https://x.com/GlennLuk/status/1980300142772461743) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T15:48Z 26.7K followers, 1351 engagements


"China's economy has been undergoing continuous waves of structural reform for decades. Structural reforms often focus on the allocation of the workforce into various activities and sectors. Some activities and sectors are more capital-intensive than others. And there is a noticeable correlation between capital-intensive activities/sectors and the formal education between the workers participating in those sectors. And since policy driving structural reform takes into account the makeup of the workforce there is correlation between the makeup of the workforce and the capital-intensity of the"  
[X Link](https://x.com/GlennLuk/status/1980300996325552500) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T15:52Z 26.7K followers, 1380 engagements


"@gdp1985 I didnt say land is the ONLY factor. But its the largest component of secondary activity so this is where I would look for data divergence"  
[X Link](https://x.com/GlennLuk/status/1980435065629995341) [@GlennLuk](/creator/x/GlennLuk) 2025-10-21T00:44Z 26.7K followers, XXX engagements


"@matthewswspence @Satvik_Pen But is that what's happening Vietnam and Bangladesh are clear counter-factuals"  
[X Link](https://x.com/GlennLuk/status/1980661638534660106) [@GlennLuk](/creator/x/GlennLuk) 2025-10-21T15:45Z 26.7K followers, XX engagements


"2 American MNCs make more money off China than vice versa Alex brings up the difference in net asset balance ($2.5T for China $500B for the US) but I would argue that it's not asset values that matter but the lost income on those assets. The reality is that China makes a relatively paltry return on its US-exposed asset portfolio because it is mainly locked up in low-return USTs and equities while U.S. investment in China is locked into high-return FDI"  
[X Link](https://x.com/GlennLuk/status/1978094349905785069) [@GlennLuk](/creator/x/GlennLuk) 2025-10-14T13:43Z 26.7K followers, 3212 engagements


"@benbawan This is going to cause major major headaches for their automotive and industrial customers that sell into the U.S. or markets potentially subject to the Entity List rules as they are no longer going to be able to purchase from Wingtech/Nexperia China without a waiver"  
[X Link](https://x.com/GlennLuk/status/1978447550173646960) [@GlennLuk](/creator/x/GlennLuk) 2025-10-15T13:07Z 26.7K followers, 2436 engagements


"To beat China the U.S. needs to paradoxically stop focusing on beating China. And instead focus on being the best version of itself"  
[X Link](https://x.com/GlennLuk/status/1978563550957228285) [@GlennLuk](/creator/x/GlennLuk) 2025-10-15T20:48Z 26.7K followers, 387.1K engagements


"Major vibe shifts in Vietnam which is emerging as a serious winner out of the US-China trade war deftly straddling its geopolitical position to tremendous benefit for its 100M+ population. From @CNMNguyen"  
[X Link](https://x.com/GlennLuk/status/1979189230317256710) [@GlennLuk](/creator/x/GlennLuk) 2025-10-17T14:14Z 26.7K followers, 59.9K engagements


"Anon litho guy predicts no company but ASML makes an EUV machine in the next X decades at least. Im taking the under on that timeline and the over on no company. HVP X nm generation and spotting him X years. Lets see if he weasels out again like last time. This is a bet not on his knowledge of litho but on his complete blindspot on China. Its an easy bet"  
[X Link](https://x.com/GlennLuk/status/1979313606727487706) [@GlennLuk](/creator/x/GlennLuk) 2025-10-17T22:28Z 26.7K followers, 42.7K engagements


"Thus the two main issues going forward are: X. How to continue to trade/invest in this new environment where countries are generally more protectionist X. How you untangle "permanent" investment deals in the past that were made in a more unrestricted trade environment in a fair way The WingTech/Nexperia case study is an example of the latter. But both are important and both issues need to be resolved over time. These frontline proxy battles can be viewed as real-time experiments on how countries are figuring out how to make adjustments"  
[X Link](https://x.com/GlennLuk/status/1979511072249069722) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T11:33Z 26.7K followers, 3268 engagements


"This is another good breakdown of the Nexperia/Wingtech saga. China's EV boom revived Nexperia's business which had been stagnant for years prior to its sale"  
[X Link](https://x.com/GlennLuk/status/1979638010921775534) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T19:57Z 26.7K followers, 3721 engagements


"Agree - quantum computing can obsolete silicon altogether. But until then for silicon there's no commercial technology on the horizon that has a reasonable shot to displace EUV's precision. There are workarounds like chiplet-based design but there should be little controversy that EUV is a core technology - for both advancd logic and eventually memory chips"  
[X Link](https://x.com/GlennLuk/status/1979686621193937228) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T23:10Z 26.7K followers, 19.4K engagements


"Rush Doshi (@RushDoshi) blocked me for saying he was "deflecting". I said he was "deflecting" b/c he had literally copy-and-pasted the same response on two very different questions within X minutes of each other 👇. This is not a sign of someone engaging in good-faith debate"  
[X Link](https://x.com/GlennLuk/status/1979691246281957756) [@GlennLuk](/creator/x/GlennLuk) 2025-10-18T23:29Z 26.7K followers, 30.2K engagements


"Exports driven primarily by advanced economies used to account for a much larger component of China's economy accounting for X% of GDP at its peak in 2007-08"  
[X Link](https://x.com/GlennLuk/status/1980261336283017635) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T13:14Z 26.7K followers, 4025 engagements


"Rich/developed markets are understandably wary of Chinese high-tech/value goods for many reasons including rising competition with domestic incumbents. But less developed / emerging markets have greater propensity to welcome the emergence of an alternative in high-tech/value goods to established (mainly Western) incumbents as lower-cost goods and services can speed up their own economic development and growth"  
[X Link](https://x.com/GlennLuk/status/1980267119549022719) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T13:37Z 26.7K followers, 1244 engagements


"Personal transport is one example with many emerging markets countries like Thailand and Vietnam embracing embracing next-generation EVs wiht more gusto than advanced markets like the United States and Japan"  
[X Link](https://x.com/GlennLuk/status/1980268087153754516) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T13:41Z 26.7K followers, 2284 engagements


"It's also quite clear in the adoption of renewables where developing/emerging economies are seeing equal or faster adoption rates than advanced economies especially if we exclude Europe"  
[X Link](https://x.com/GlennLuk/status/1980281387371417644) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T14:34Z 26.7K followers, 3512 engagements


"Not at all supported by the data. China far less "reliant" on net exports / balance of trade than smaller surplus countries:"  
[X Link](https://x.com/GlennLuk/status/1980329302169391261) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T17:44Z 26.7K followers, 3997 engagements


"@abcampbell We are actually already seeing this play out in the Nexperia situation where half of Nexperia's revenue is now coming from Chinese car and industrial companies"  
[X Link](https://x.com/GlennLuk/status/1980352011096011163) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T19:14Z 26.7K followers, 1948 engagements


"China has strong institutional capacity when it comes to industrial policy; in contrast increasingly obvious the U.S. is severely lacking here. At least people now recognize that markets alone cannot solve these issues"  
[X Link](https://x.com/GlennLuk/status/1980381828289851399) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T21:13Z 26.7K followers, 10.2K engagements


"@zephyr_z9 2021 pandemic-level supply chain disruption. chips will run out in a few weeks"  
[X Link](https://x.com/GlennLuk/status/1980390763369492854) [@GlennLuk](/creator/x/GlennLuk) 2025-10-20T21:48Z 26.7K followers, 4366 engagements


"@gdp1985 Also theres often divergence/volatility between FAI and GFCF. Was the divergence between FAI and GFCF a noticeable outlier in Q3 vs. previous quarters to suggest more than just regular noise (I dont know the answer here)"  
[X Link](https://x.com/GlennLuk/status/1980442233183826104) [@GlennLuk](/creator/x/GlennLuk) 2025-10-21T01:13Z 26.7K followers, XXX engagements


"@benbawan @zephyr_z9 The specific moves/actions in question on reciprocity here are ASML complying with U.S. requests to ban EUV and advanced lithography"  
[X Link](https://x.com/GlennLuk/status/1980583361317118312) [@GlennLuk](/creator/x/GlennLuk) 2025-10-21T10:34Z 26.7K followers, XX engagements


"@KaiserKuo Thats so fire you absolutely violated bruh"  
[X Link](https://x.com/GlennLuk/status/1980586409426829772) [@GlennLuk](/creator/x/GlennLuk) 2025-10-21T10:46Z 26.7K followers, 1321 engagements


"". if we really are headed toward some kind of Pax Sinica it wont be because of how many EVs roll off the line at a BYD factory it will be because China has rediscovered something weve lost: How to make people feel part of something larger than themselves; how to take pride in historical achievement; how to sustain the promise of a national project worth contributing to.""  
[X Link](https://x.com/GlennLuk/status/1980633445874192493) [@GlennLuk](/creator/x/GlennLuk) 2025-10-21T13:53Z 26.7K followers, 43.4K engagements


"@gonglei89 I didn't talk about efficiency here"  
[X Link](https://x.com/GlennLuk/status/1980669230027772327) [@GlennLuk](/creator/x/GlennLuk) 2025-10-21T16:15Z 26.7K followers, XXX engagements


"@zephyr_z9 Ongoing discussions between Beijing and Dutch minister counterparts"  
[X Link](https://x.com/GlennLuk/status/1980691986891133074) [@GlennLuk](/creator/x/GlennLuk) 2025-10-21T17:45Z 26.7K followers, 2586 engagements


"Indeed there is significant historical data that shows NDRCs propensity to set *conservative* GDP targets not aggressive ones"  
[X Link](https://x.com/GlennLuk/status/1980717014545989727) [@GlennLuk](/creator/x/GlennLuk) 2025-10-21T19:25Z 26.7K followers, 1006 engagements


"@Marxistcham @zephyr_z9 It does seem Beijing is taking a longer-term view on Europe to find a relationship that works because theres actually hope for one compared to the U.S"  
[X Link](https://x.com/GlennLuk/status/1980740048145289448) [@GlennLuk](/creator/x/GlennLuk) 2025-10-21T20:56Z 26.7K followers, XX engagements