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Wired
How China’s ‘Crystal Capital’ Cornered the Market on a Western Obsession 20 January 2026 at 06:00

How China’s ‘Crystal Capital’ Cornered the Market on a Western Obsession

Wired

By: Louise Matsakis， Rachel Zheng

20 January 2026 at 06:00

Decades ago, Donghai was a backwater county. Today, thanks to an army of 24/7 livestreamers, it orchestrates a multibillion-dollar global industry.