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The AI industry is a growing bubble. Investments in companies building AI applications are hot — very hot. The question is where we are on the wave right now. Is it nearing its peak, with the AI bubble about to burst, or are we still far from that point? From Shanghai, Chinese economist Andy Xie analyzes and comments on the relationship between the American and Chinese financial markets for outlets such as *Bloomberg* and the *South China Morning Post*. His analyses are often seen as contrarian and provocative. “America’s idea of winning is to create a God. That God will live in San Francisco. And the God works for America,” says Xie.