If Chinese stocks have a bright future, why not just buy FLCH or a similar China-focused ETF or MF? Add a dash of FLHK for old-timey Hong Kong-listed companies. ERs of 0.09% and 0.19% respectively.

BABA is a dud. Munger lost his stockpayers' shirt on it. Jack Ma likes to treat BABA as his private slush fund. And is in bad graces of Xi (witness the Ant IPO fiasco). And may have health issues.

I don't see why BABA is better than Tencent, Baidu, and smaller companies like Vipshop.

FWIW I think that China-US relations are already getting to cold war level. Except China is a far more formidable adversary than Russia. Still, there is speculative money to be made due to low valuations and possible ease of authoritarian interference - at least the type that shrinks profits. I don't care about immoral practices (but you may) - like Uighur slavery, censorship, lack of freedom of speech. They have not affected Chinese companies' profits.