The economy, like the stock market, is also characterized by structural divergence. The stock market doesn’t have an overall bull run—some core AI companies are continuing to run in a bull market, while some companies are already running in a bear market.

China’s economy and sectors like technology, new-energy vehicles, self-media, new materials, entertainment, and others are in a bull market, while many other industries are either churning sideways or in a bear market.
Smart people shouldn’t complain about whether the environment is good or not. Whether the overall environment is good or bad has nothing to do with you. If your dad is a municipal party secretary or a provincial party secretary—even if he’s a village committee secretary—you’d still feel like the overall environment is way too good.
Go choose bull-market industries that are thriving—like doing investing. Investing in AI companies, running self-media—those are choosing bull-market industries. Trading crypto is choosing a bear-market industry.