One week after Trump announced a colossal government-backed AI investment plan, an obscure Chinese startup has lobbed a grenade into the US tech sector. With the stock markets in turmoil, the president’s protectionist plans are off to a rocky start.

This month, TikTok was briefly banned in the US, in a sabre-rattling move against China. But this backfired spectacularly, with millions of American users flooding onto RedNote, where they discussed class issues and communism with Chinese youth.

The European economy is facing its biggest crisis in a decade, with hundreds of thousands of manufacturing jobs at risk. European capitalism has entered into a steep decline, and will be unable to weather the geopolitical storms that surround it.