Chai Jing's program this time maintains the consistently high standard, but I must cold-heartedly say that currently, populism in China is raging, and this cannot be stopped by reflecting on history. The fundamental issue is structural; young people educated in China have lost upward mobility, while the authorities refuse to establish an inclusive welfare system, leading to a widening rather than narrowing wealth gap. A generation that grew up during the golden age and originally had high expectations of themselves is falling into anxiety and anger in disillusionment, which is the core issue. In this context, the trade war provides sufficient reasons for external hatred, and the continuously promoted military and technological advancements give enough confidence and impulse for opportunistic military adventures. Coupled with the unprecedented penetration and incitement of short video social media, the raging flames of populism are spreading at an exponential rate. A few well-produced tear-jerking historical stories, in the face of such a historical torrent, are no different from a mantis trying to stop a car.

You can observe for yourselves whether this is the case: scholars or opinion leaders who were seen as leftists a few years ago, such as Yan Xuetong, Zhai Dongsheng, Hu Xijin, and Ma Dugong, have now moved to the right side of the spectrum; former classmates and friends who could rationally view China and the world a few years ago have now sharply decreased in intelligence, their minds filled with fake news, false narratives, and fake history, and they have consciously adopted a populist discourse and mindset, starting to view everything related to the West with suspicion; on social media, a contest has begun to see who is more patriotic, who is more confident, who despises foreign countries more, and who can organize language in a way that excites collective euphoria; the higher the pitch, the more attention, applause, and economic benefits one receives; in terms of age, a basic pattern has formed where the younger one is, the more populist they tend to be.

My judgment is that the entire situation has now completed a cold start, crossed the tipping point, and entered into a self-reinforcing network effect. Internet and crypto practitioners are very familiar with this process; once the so-called 'tipping point' is reached, special arrangements for human promotion and resource support are no longer needed. The output of the network system will, in turn, stimulate and amplify the input, and the entire system can continuously accelerate its development. Currently, unless the authorities take strong measures to curb it, the trend is difficult to reverse. If it continues to develop, even the authorities will be forcefully swept along. There is no need to harbor any illusions; this trend is definitely pointing towards war, and there will absolutely be no second outcome.

What I am saying pertains to China, but in fact, similar trends also exist in the United States, the West, and other countries. As the new Canadian Prime Minister stated in his inaugural speech, the system in which countries are interdependent and the entire world moves towards prosperity has come to an end.

In light of the great trends of the world, we individuals are so small that it is difficult to shake the overall situation. I once anonymously criticized populist rhetoric that spreads fake news, false history, and creates xenophobic sentiments on domestic social media networks, but now I have seen the situation clearly, and it has exceeded the extent that any individual effort can influence. Now, for individuals, we can only adapt to the situation and do work at the observational level for self-preservation as the bottom line; if we can also make some efforts to reduce the risk of war, that would be a great kindness. Within this historical framework, I believe that crypto, especially the development of dollar stablecoin economies and RWA, now holds special economic and historical significance beyond mere freedom. As long as people can still do business with each other, invest in each other, and make money together, there will always be a bit more rationality and a commitment to peace and friendship.