China's era of one-yuan lattes and cheaply delivered meals is cratering

China's era of one-yuan lattes and cheaply delivered meals is cratering

Cheng Xin/Getty Images

China's tech rebound, sparked by AI buzz around DeepSeek earlier this year, has been interrupted by a bruising food delivery war that hammered the shares of Alibaba, JD.com, and Meituan — three of the country's biggest e-commerce players.

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