Should China Macro be worried about China Tech?

Some of the more amazing charts in markets right now are the Chinese internet behemoths. Looking at KWEB, which is the most often quoted ETF for the China dot-com, it is now down almost 50% from its February highs. This comes after it more than doubled from the Covid lows in March 2020 to the February highs. And while it has been quite the ride, after f…