In this episode of China Decode, hosts Alice Han and James Kynge explore whether China’s stock market rally marks the start of a true bull market—or just another round of state-driven froth. They then turn to Ethiopia’s $5 billion Grand Renaissance Dam, built with Chinese expertise and financing, and ask what it reveals about Beijing’s expanding influence in the Global South—and how tensions with Egypt could put that influence to the test. Finally, they look at the global rise of Labubu, the sharp-toothed plush toy embraced by celebrities from Rihanna to Naomi Osaka, and what this craze says about China’s growing role as a cultural exporter.

Learn more about your ad choices. Visit podcastchoices.com/adchoices