In this episode of China Decode, Alice Han and James Kynge break down a quieter but consequential shift in Washington’s China strategy. They unpack Trump’s new national security playbook, why Beijing is suddenly sounding upbeat, and whether this signals a real reset or just a tactical pause in U.S.-China tensions. They also dig into China’s baby bust — and the backlash to a new tax on condoms — as policymakers search for answers to falling birth rates. Plus, Alice sits down with Chip War author Chris Miller to discuss Trump’s surprise reversal on AI chip exports to China, what it means for NVIDIA, and why semiconductors are now at the center of global power politics.

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