The economic hardware/software debate about China just got more complicated. Before DeepSeek flipped the script on the artificial intelligence game, many economists worried China had way too much of the former and not enough of the latter.

China’s DeepSeek is all the tech world can talk about now. But the chatbot has a censorship problem. It refuses to answer questions on sensitive subjects. When asked about Tiananmen Square or Winnie the Pooh,