Host Wenchi Yu speaks with Dr. Ruby Wang, a London-based surgeon turned health-policy and strategy expert, about how China has rapidly evolved from a “copycat” drug producer into a critical source of cutting-edge biotech innovation. Drawing on her experience leading the UK government’s health team at the British Embassy in Beijing during the pandemic and now advising global life sciences clients, Ruby explains how decades of long-term state planning, investment in R&D parks and regulatory reform, a huge patient pool, and a culture of fast experimentation have created a maturing ecosystem that now delivers world‑class oncology, cell therapy, GLP‑1, and AI-enabled drug discovery assets. She describes how roughly 40% of recent global out‑licensing deals now involve China-origin drugs, with Western pharma relying on Chinese assets for growth even as US and European policymakers debate tariffs, data security, and “China risk.”​

The discussion explores the tension inside China between keeping medicines affordable for its population and sustaining a profitable, innovative biotech sector, as well as how emerging mixed public–private health models and experiments such as Hainan’s medical tourism zone might ease that pressure. Ruby and Wenchi also unpack Western misconceptions that Chinese biotech is still low quality, arguing that this outdated narrative shapes investor sentiment and policy in ways that could ultimately deprive patients worldwide—especially in developing countries—of effective, lower-cost treatments. They conclude that while security and data-privacy concerns are real, science and healthcare are inherently global, and the key challenge for the West is to manage risk without cutting itself off from Chinese innovation that could help meet urgent global disease burdens.

Perspectives with Wenchi Yu

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As we close out 2025—the first year of Perspectives with Wenchi Yu, now at 28 episodes—here are a few quick reflections on US–China–Taiwan dynamics in 2025 and some predictions for 2026.

For more discussions and work from Wenchi Yu

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Perspectives with Wenchi Yu

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Host Wenchi Yu speaks with Jane Perlez, host of the podcast Face‑Off: The U.S. vs China and a former New York Times foreign correspondent and Beijing bureau chief. The conversation traces Jane’s journey from an aspiring reporter in Australia to a Pulitzer Prize–winning correspondent who covered conflicts and political transitions from East Africa and the Balkans to Pakistan, Indonesia, and ultimately China. She reflects on how 9/11 and the wars in Iraq and Afghanistan pulled Washington’s attention away from Asia just as China was expanding its influence in Southeast Asia, and how U.S.–China relations slid from the hopeful mood of a 2012 State Department banquet for then–Vice President Xi Jinping into today’s open strategic rivalry. Speaking from her current base in the United States, she discusses the challenges of understanding China without regular on‑the‑ground reporting or a steady flow of Chinese visitors, her decision to turn to podcasting—first with “On the Trail of Xi Jinping” and now with Face‑Off: The U.S. vs China—and why she believes closing the “barrier of ignorance” between the two societies is essential for managing competition and avoiding conflict, including over Taiwan.

Perspectives with Wenchi Yu

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Host Wenchi Yu speaks to the Hong Kong-born aerospace entrepreneur, Michael Blum, about the evolution of the global space industry through the lens of US and Chinese competition. As the co-founder of Firefly Space Systems, Blum recounts his inspiration for space and aerospace, his early days in Silicon Valley, and direct involvement with Elon Musk and SpaceX, highlighting the transformative impact of private enterprise in reducing costs and expanding access to space. He contrasts the innovation-driven, commercially vibrant US sector with China’s more opaque, state-led program, discussing how geopolitical rivalry—for prestige, technological superiority, and security—drives distinctly different strategies and norms. Key discussions include the rise and challenges of commercial space ventures (like SpaceX, Blue Origin, and Firefly Aerospace), the Artemis Accords and international alignment in space governance, and China’s ambitious goals for a permanent Moon presence and technological self-sufficiency. The conversation addresses issues such as space debris, differing legal frameworks, and how recent political changes in Hong Kong have impacted Blum’s trust in cooperating with China—particularly significant given his own upbringing in Hong Kong. The dialogue also emphasizes the ongoing ideological contest between centralized planning and open competition, the crucial role of public-private partnership, and the inspiration emerging from new commercial opportunities and international collaboration—even as competition in space intensifies between the US and China.

*This episode is in collaboration with the China Strategic Risks Institute, www.csri.global 

Perspectives with Wenchi Yu

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Host Wenchi Yu speaks with Olivia Plotnick, a Shanghai-based social media and marketing entrepreneur, who recently completed a marketing research project spanning 30 cities in 60 days in China. The conversation attempted to answer the question: How’s China’s economy faring? Has the trade war’s impact been felt on the ground? How are consumers spending their money? Olivia’s findings of health & fitness, tourism, beauty, and youth trends challenge conventional wisdom and offer surprising insights into the state of China and its consumers across age groups. She discusses the importance of understanding consumer behavior beyond just data and statistics, and highlights the rise of tier two and below cities, the competition between Starbucks and Luckin Coffee, the explosion of milk tea brands, and the impact of EV adoption. She also delves into changing consumer values and the evolving narrative around China's economy.

Olivia Plotnick's Substack: https://substack.com/@whowhatwai 

0:00 Understanding China's Economic Landscape
04:57 Exploring Tier Two and Below Cities
11:35 Diverse Perspectives on China's Economy
17:33 The Coffee Wars: Starbucks vs. Luckin
23:03 The Rise of Milk Tea and Local Cafes
29:37 Trends in Health, Fitness, and Consumer Behavior
35:20 Debunking Western Narratives on China's Economy

Perspectives with Wenchi Yu

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Host Wenchi Yu speaks with Wang Xiangwei, former editor-in-chief of the South China Morning Post (SCMP), about covering China over the last three decades, as well as Hong Kong after 2019. Wang led the expansion and digital transformation of SCMP's China coverage, striving to provide insider, balanced, and insightful reporting amid complex political pressures from both Beijing and Hong Kong, all while maintaining editorial independence. He witnessed and navigated Hong Kong’s changing political landscape, including the impacts of the National Security Law, and advocates for Hong Kong's unique role as a distinctive, open, and window into China. Wang Xiangwei thinks Hong Kong’s role should be as a unique capitalist enclave within China that acts as a vital bridge and “superconnector” between China and the rest of the world. Despite political pressures and challenges under “one country, two systems,” Hong Kong should preserve its openness, rule of law, and global connectivity to remain indispensable for China’s modernization and for international capital seeking access to China and Asia. Wang emphasizes that Hong Kong must proactively shape Beijing’s perception of its importance rather than passively yield its future, thus maintaining its distinctive identity and future prosperity.​ After leaving his editorial post, Wang now teaches journalism, continuing to contribute a perspective on China’s global rise and media challenges, and remains an avid writer and observer of China.

Wang Xiangwei's Substack: https://substack.com/@wangxiangwei 

Perspectives with Wenchi Yu

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Host Wenchi Yu speaks to Rui Ma of Tech Buzz China about the divergence in AI development and cultural attitudes between China and the US. Driven by its strong manufacturing capabilities, China deeply integrates robotics with AI, focusing on practical, cash-flow-positive applications like service robots for food delivery or pool cleaning, rather than advanced "sci-fi" level projects. The Chinese government maintains a techno-optimist and encouraging stance toward AI, which, combined with a societal openness to rapid change, results in less fear or caution around the technology compared to the US. Furthermore, foreign investment has largely been replaced by capital from municipal governments and state-owned enterprises. In contrast, the US approach often emphasizes a deregulatory, pro-innovation strategy to maintain global dominance and is more concerned with achieving super-intelligence and AGI.

00:00 Introduction to AI Competition

01:16 Insights from the World AI Conference in Shanghai

05:16 Robotics and AI Integration in China

10:13 Comparative Approaches to AI: US vs China

12:56 The Bubble in Humanoid Robotics

15:35 Cultural Attitudes Towards AI

18:17 Government Support for AI Development

20:01 Investment Landscape in China

24:18 AI Leadership and Global Cooperation

29:37 Future Innovations in China

Perspectives with Wenchi Yu

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Host Wenchi Yu speaks with the UK-based macroeconomist, Kelvin Lam, a long-time China observer, about the current state of China’s economy. The conversation highlights several issues, including the challenges in the property sector, the country’s transition towards a high-tech economy, and the need to boost domestic consumption. The discussion also touches on the issue of inequality, the phenomenon of involution (over-competition within industries), and the future outlook for China's economic policies. Kelvin provides valuable insights as China prepares to unveil its 15th Five-Year Plan later in October.

00:00 Introduction to China's Economic Landscape

01:01 Kelvin Lam's Background and Expertise

01:56 Current State of China's Economy

07:28 The Role of the Property Market

10:26 Domestic Consumption and Economic Transition

11:34 High-Tech Manufacturing and Economic Growth

15:01 Unemployment and Labor Market Dynamics

16:14 Government Policies to Boost Consumption

19:11 Income Growth and Social Stability

22:00 China's Technological Advancements and Global Positioning

25:40 Overcapacity and Market Competition

30:52 Government Strategies for Industrial Consolidation

35:17 The Upcoming 15th Five-Year Plan

37:58 Conclusion and Future Outlook

Perspectives with Wenchi Yu

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Host Wenchi Yu speaks with Carl Wegner, President of the American Chamber of Commerce (AmCham) in Taiwan, about the implications of Trump 2.0's policies for Taiwan. The conversation highlights that beyond tariffs, American businesses also worry about energy stability, lack of a US-Taiwan double-taxation treaty, Taiwan's aging population, and geopolitical dynamics. Wegner explains that despite the uncertainty, American investment in Taiwan continues to be strong, with a survey showing over 70% of members plan to maintain or increase their investments. The discussion also touches on promising non-semiconductor industries in Taiwan, such as defense, clean energy, and biotech, as well as the increasing awareness of Taiwan in Washington D.C.  

Perspectives with Wenchi Yu

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Host Wenchi Yu speaks with Bryce Whitwam, a seasoned marketing professional with extensive experience in Asia, including 17 years in China, where he led major advertising agencies and founded his own. Bryce highlights the "seismic shift" in marketing and consumer behavior brought about by the rise of multifunctional digital platforms such as WeChat, Taobao, Douyin, and Xiaohongshu (also known as Red Note). The conversation also covers the rise of Chinese domestic brands, a phenomenon known as "Guo Chao 国潮," like Luckin Coffee, which have challenged foreign brands such as Starbucks. 

Whitwam argues that while consumers may sometimes boycott foreign brands like H&M for nationalistic reasons, they generally base their purchasing decisions on product quality and trust. Despite tariffs and the closure of the "de minimis" loophole, Whitwam predicts an increase in direct-to-consumer sales from Chinese manufacturers to the U.S.. He views these tariffs as a "failed policy" that will lead to higher prices for consumers. 

Bryce Whitwam contributed a chapter, MARKETING AND SOCIAL MEDIA: Staying Ahead of the Most Dynamic Market on Earth, for Ker Gibbs' Selling to China: Stories of Success, Failure, and Constant Change.

Bryce Whitwam is also a co-host of ShanghaiZhan, a podcast about all things China marketing, advertising, tech and platforms.  

00:00 The Digital Revolution in China

02:46 Bryce's Journey in Marketing and Advertising

05:40 E-commerce and Social Commerce Transformation

08:38 The Shift in Advertising Strategies

11:40 The Rise of Short-Form Video and Influencer Marketing

14:32 Understanding Chinese Social Media Platforms

17:42 The Impact of Domestic Brands and Guo Chao

20:08 Navigating Geopolitical Tensions and Consumer Preferences

23:12 The Future of US-China Business Relations

25:43 Conclusion: The Competitive Landscape Ahead

Perspectives with Wenchi Yu

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