Rick,

The Chinese mess as you put it is complicated and probably doesn't sit well with some.  However, one thing is quite clear, the Super Photonics JV is set up to supply 100/200G optical engines world-wide, not just in China.  In addition, SPX has exclusive rights to supply 400G within China, and they will sell back 400G OEs to POET for rest of world sales outside of China.  The point being, all 100/200 & 400G OE's world-wide will be produced by SPX.  That is why they searched out such a capable partner.  Of course, what the OE's go into is another story.  It is very likely (soon?) POET will partner (or acquire) a NA or EU company to produce devices based on the OEs manufactured at SPX.

Geopolitical concerns are obviously present, and most would agree diversification across these boundaries is probably a good thing.  However, I doubt there is an immediate need or business case for separate NA or EU manufacturing for these specific items at this point in the company's development.  In fact, its possible the JV agreement with Sanan may even prohibit it.  We will have to trust management to ensure associated risks have been minimized, and that they have alternate plans should the need arise.

All IMO of course! 

For those who haven't seen it, the POET/Sanan JV model:

https://s3.amazonaws.com/s3.agoracom.com/public/photos/images/5892/large/JV_Model.jpg