The cleanest Japanese handstands I've seen are from Fabian Hambuechen and Alexander artemev
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I assume the reason that most gymnasts have very arched wide arm handstands is because their regular handstands aren't hollow to begin with. Most elite male gymnasts I see seem to have tight shoulders, presumably it's hard to keep them flexible when you're that freakishly strong from all the ring strength? That and, as some people have already mentioned, it's just plain easier to hold with an arched back because you get more pec recruitment.