FWIW, my limited anecdotal evidence is that they're going through a rough patch. Friends with family in China report that they are very much in a recession. And

FWIW, my limited anecdotal evidence is that they're going through a rough patch. Friends with family in China report that they are very much in a recession. And every Chinese factory we know (copper wire) is building factories in other SE Asian countries (Thailand, Vietnam, Malaysia) so they can be tariff-free for American customers. Which I take as a sign that the tariffs have been painful for them.