Max & Jacks look into two distinct "China Shocks" and their implications for the U.S. economy. The first China Shock (1.0), occurring between 1999 and 2007, describes the impact of China's transition to a market economy, leading to significant job losses in U.S. manufacturing due to inexpensive Chinese goods. Then a more concerning second China Shock (2.0), where China is now aggressively competing and often surpassing the U.S. in advanced, innovative sectors like AI, biotechnology, and clean energy.