De-Globalization? U.S. Companies De-risking from China

China Readthroughs from Q3 U.S. Earnings

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Part of our ritual is to track the quarterly earnings of U.S. companies in China, because:

• American companies in general are more transparent than Chinese companies. You get more out of their earnings calls.

• American companies offer more objective views on China’s economic landscape, versus politically-correct Chinese firms which often have a positive bias.

• U.S. and global companies offer valuable sights on Chinese counterparts. For example, Tesla (TSLA) vs. BYD (002594.SZ / 1211.HK). We can also have a better understanding of the global supply chain by including non-Chinese companies.

I did a lot of this “read-through” analysis as a global tech strategist at UBS. For the China readthroughs from Q2 earnings, please check out my prior posts part one and part two here.