The Shanghai Composite gained by 3.61% on Thursday to 3,000.95.
Many people forget that the Shanghai Composite hit an all-time high of 6,124 all the way back in October 2007.
China's economy is heavily reliant on natural resources.
Even if you believe that AI will become really big, after 13 years of underinvestment in natural resources, there isn't enough copper to support the electricity infrastructure needed to run the GPUs sitting in warehouses unused.
The Chinese are buying gold and silver not Bitcoin.
It is not a coincidence that the all-time high for the TSX Venture Composite Index was reached in mid-2007 a few months prior to the Shanghai Composite hitting its all-time high.
Americans can't buy Shanghai Composite stocks, but we can buy TSX and TSX Venture listed natural resource companies.