财富智慧家

How should China respond to globalization's difficulties? Professor Li Wei believes that China needs to re-globalize, restructure its supply chain to avoid geopolitical risks, upgrade its comparative advantages, maintain its competitiveness, and promote sustainable economic development. Globalization is a historical trend, and no one can deny its great significance. What we want is re-globalization, to shape a globalization that is beneficial to both China and other countries.#Globalization#ChinaEconomy

#American millionaires support tax increases# A poll of American millionaires showed that most of them support a more progressive tax system and are even willing to raise the current top marginal tax rate. It seems that President Biden's plan to impose more taxes on the super-rich has been supported by the upper middle class in the United States. This is also one of the basic tenets of Biden's economic strategy for his re-election campaign in November. It seems that the rich in the United States have also begun to realize that they need to contribute more for social fairness. #GlobalEconomy# #Investment# #FinancialMarkets#

#The average working hours of Germans in 2022 will be lower than those of the UK, Greece and Spain, which has triggered different interpretations from employer associations and trade unions. According to a report by the German Institute for Economic Research in Cologne, Germans work 1,031 hours a year, ranking only in the middle and lower reaches. The report analyzed that in order to achieve the goal of increasing the total amount of work, it is more likely to extend working hours rather than reduce the already high labor force participation rate. The German economy is in crisis, and all sectors of society must fully utilize the labor force potential by providing more full-time jobs and other measures in order to achieve the goal of revitalizing the economy. #

#Trump Tax Plan# A paper from the Peterson Institute for International Economics points out that Trump's "highly regressive" tax plan may hit the poorest families in the United States disproportionately. Trump plans to impose a 10% tariff on all imports and a 60% tariff on Chinese goods to finance his tax cuts. These families may bear the largest part of the $500 billion annual burden. Although this seems a bit heavy, don't forget that the market always has its own unique adjustment and balancing mechanism. Let's wait and see!

#Global Investment Trends: The Japanese stock market has attracted the attention of global investors due to its corporate reform measures. The Fed's postponement of its loose monetary policy has made investors more cautious about the Asian market. Although the Chinese stock market is attractive due to its low valuation, geopolitical factors have caused American capital to begin to pay attention to Japan.#StockMarket Dynamics
#ChinaStock Market Opportunities: China's stock market has attracted foreign investment due to its low valuation and economic recovery. Northbound funds have poured into A-shares, setting a record high. Many international institutions have raised their expectations for the Chinese economy. The Chinese market is expected to resume foreign capital inflows and consolidate investor trust.#Investin China
#JapaneseStock Market Hotspots: Japanese companies are actively reforming and stock prices are rising. The Bank of Japan has gradually raised interest rates, and the attractiveness of financial stocks has increased. The valuation of the Japanese stock market has improved, and fund managers are scrambling to enter the market.#Investin Japan
#Myopinion: China and Japan have their own investment opportunities, but geopolitical factors have made American capital more inclined to Japan. China needs to take advantage of the opportunities of low stock valuations and economic recovery to attract and utilize foreign capital in order to gain a more advantageous position in the Asia-Pacific investment market.

Chinese e-cigarette company RELX Technologies saw its revenue nearly triple in the first quarter, showing signs of life, although it is still below the level before regulatory tightening. The company is embarking on international expansion to avoid the risks of over-reliance on the Chinese market and seek new growth opportunities. Although RELX Technologies' shares fell 5.1% on Friday, its price-to-earnings ratio is only 11 times, which makes it seriously undervalued compared to its peers. The company has obtained a testing facility certificate issued by European Technology, hinting at future ambitions in the European market. Despite the challenges facing the company, analysts are optimistic about its prospects and expect its full-year revenue to grow 67%.#GlobalMarkets#Investment #FinancialMarkets

#GlobalEconomicDynamics# Last week, the dollar was expected to fall in the first month of 2024 due to slowing CPI data, which is good news for Japan and the European Central Bank. The dollar's gains so far this year have reversed, and investors are optimistic that the Federal Reserve may have more room to cut interest rates. The dollar has risen by 5% since the beginning of the year, but with the slowdown in the consumer price index (CPI), the dollar looks set to record its first lower month in 2024. Investors, what do you think? #Stocks# #Investment# #FinancialMarkets#

The world has entered a competition for industrial subsidies, and China is not the only implementer. The United States and Europe accuse China of government subsidies and excess production capacity. The level of Chinese government subsidies is several times higher than that of large EU countries and OECD members. Direct subsidies to BYD and Mingyang, leaders in China's electric vehicle and offshore wind turbine industries, increased significantly between 2020 and 2022. The focus of the EU's investigation into China's electric vehicle subsidies is not limited to narrowly defined export subsidies or local content subsidies, but also includes direct transfers of funds and potential direct transfers of funds or debt, the government giving up or not collecting revenue, and the government paying less than appropriate remuneration. way to provide goods or services. Globally, industrial policies and subsidies are returning. Notable examples include the United States' "Inflation Reduction Act", the European Union's "European Green Deal" and China's "Made in China 2025".

#AI New World: OpenAI and Google's AI big models may subvert Apple's business model, and a new king on the end side will be born. Experts predict that AI big models will become a real challenger to Apple's business model and may replace the business model of the APP store. The revolution promoted by OpenAI will take the leading role in the development of mobile phone functions from mobile phone manufacturers and hand it over to its own AI development team and a wide range of AI developers.#TechnologyStorm#AIWar
#AppleCrisis: The endogenous functions of traditional mobile phones are facing large-scale AI big model reconstruction, and the traditional APP ecosystem will inevitably be broken and rebuilt. In the future, mobile phone companies may only have mobile phone foundries controlled by AI companies. There is no need for mobile phone brands, only AI brands.#TechnologyTrends#AISubversion
#TechnologyPrediction: After AI is infinitely close to having personality, emotions and many abilities, the prosperity of the silicon-based economy in the next 100 years will be inevitable. Correspondingly, the world's real economy may very likely fall into severe stagflation. AI no longer needs to transform the old world, but to create a brand new world.#TechnologyFuture#AINew World

Can the "algorithm" go wrong? In his new book, "Algorithms," New York University professor Silk Sherman points out that the use of artificial intelligence tools in recruitment and management may do more harm than good.#AI#Recruitment#Management

Robots decide which job ads we see, which resumes are read, who gets to the final interview, who gets promoted or is laid off. But what if the algorithm goes wrong? This is the question Sherman raises in the book.#ArtificialIntelligence#Algorithms

This book is the result of Sherman's five years of research and is worth reading.#Research#Books

This article is paid, and friends who are interested can go to the website to purchase and read it.#PaidReading

#Microsoft News# As tensions between China and the United States over sensitive technologies such as AI grow, Microsoft has offered some of its employees in China an optional internal transfer opportunity. A Microsoft spokesperson said this will not affect Microsoft's business in China and other markets. It seems that Microsoft is still confident in the global market! #GlobalEconomy# #Investment#

#GlobalEconomicDynamics# ICBC and Bank of China issued special loss-absorbing bonds for the first time this week to meet the requirements of the Financial Stability Board. This is an important step taken by China's major banks to avoid a repeat of the 2008 financial crisis and meet international requirements. It is reported that ICBC issued RMB 40 billion of "total loss-absorbing capacity" bonds, and Bank of China also launched the pricing of RMB 30 billion TLAC bonds. It seems that China's financial markets are moving forward steadily and injecting new vitality into the global economy! #Investment# #FinancialMarket# #Blockchain#

"Russian President Vladimir Putin and Chinese President Xi Jinping held talks in Beijing aimed at strengthening the close relationship between the two leaders while seeking Chinese support for Russia's war economy. The talks are expected to cover the war in Ukraine, the conflict in the Middle East, and economic and defense cooperation. The talks may have an impact on the global economy and financial markets and deserve our close attention.#GlobalEconomy#FinancialMarkets"

Singapore has a new leader! US-educated economist Lawrence Wong has taken over from Lee Hsien Loong as Singapore's fourth prime minister. The Asian financial hub is on a new path after decades of rule by the founding prime minister's family. Lee Hsien Loong had led the tightly governed island nation since 2004 but announced his resignation last month. New leadership, new beginnings, Singapore, we look forward to your new chapter!#SingaporePrimeMinister#LawyerWong

#U.S. stocks hit a new high# Optimistic investors, the U.S. inflation rate slowed to 3.4% in April, in line with economists' expectations, ending four consecutive months of inflation rates exceeding expectations. This good news has made investors more resolute in their bets on the Fed's interest rate cuts this year, and the result is that U.S. stocks closed at a record high! It seems that the market's optimistic atmosphere is spreading. #Investment# #Economy##FinancialMarkets#

#Hungary, a country that has always played a supporting role in the European automotive industry chain, is actively seeking to occupy a more advantageous position in the automotive value chain. The interests of China and Hungary are complementary here. Hungary has become the top destination for Chinese investment in Central and Eastern Europe, especially in the field of electric vehicle battery manufacturing. Hungary's friendly policies toward China and lower labor and energy costs give it an advantage in attracting Chinese investment. Hungary's investment increased by 54% year-on-year. In the overall situation where the recovery of European FDI after the epidemic has stagnated, Hungary stands out.#GlobalEconomy#Investment#Financial Market

#PutinVisitsChina# Russian President Vladimir Putin made his first foreign visit since he was sworn in for his fifth presidential term last week, and his destination is our great China! This visit is also the 43rd meeting between Putin and President Xi, they are really old friends. Since Russia's full-scale invasion of Ukraine in 2022, China has played an increasingly important role in supporting the Russian economy. It seems that our great China is not only the world's factory, but also the economic lifeline of Russia! #GlobalEconomy# #StockMarket# #Investment#

#香港经济# #大家乐# #盈喜# Although the economic environment in Hong Kong is weak and the tourism industry is also facing challenges, the big brother of the fast food industry, the Cafe de Coral Group, has bucked the trend and recently issued a profit warning, showing the ability of excellent companies to cross the cycle. This is good news and also an encouragement to other companies. As long as there is a good strategy and execution, there will always be a way out in difficult situations. Looking forward to the performance of the Cafe de Coral Group in the future!

Is the US economy in "stagflation"? Don't worry, this question may not be important. What is more worthy of our attention is how the US economic policy will respond. Although the GDP growth rate in the first quarter was weaker than expected, the core PCE price index exceeded the market consensus, but we cannot judge the performance of the US economy based on these data alone.

We see that the US economy has begun to show the hidden worries of "stagflation", but it also has strong growth momentum. Although fiscal spending has slowed down, personal consumption and private investment still show strong growth momentum. This is also the fundamental reason why the US economy has maintained high growth and inflation has been high for a long time.

For the Federal Reserve, the current combination of growth and inflation is certainly unsatisfactory. But we see that there have been differences within the Federal Reserve on interest rate cuts, which means that monetary policy is facing a new adjustment period.

In general, we still believe that the US economy is entering a new normal of "high inflation, high interest rates, and medium-speed growth." This new normal means that the United States is entering an economic process with a higher inflation center, and interest rates therefore need to be maintained at a higher level to prevent inflation from getting out of control. This also means that monetary policy needs to be adjusted in a timely manner to avoid major risks in the economy due to problems in a single or several sectors.

Therefore, whether it is stagflation or various landings, it only brings more disturbances and uncertainties to the market. What we should pay more attention to is how the US economic policy will respond.#USEconomy#Stagflation#MonetaryPolicy#FiscalPolicy

#Market Dynamics# Global stocks experienced their best first quarter returns in five years, but market confidence was shaken in April. Chen Minlan suggested that a diversified and balanced investment portfolio is the best way to ride out market ups and downs and accumulate long-term wealth. Private equity, especially when traditional diversification tools such as U.S. Treasuries rise and fall in tandem with the stock market, can be a good way to achieve a balanced allocation. The long-term returns of private equity may be better than those of public markets, and low liquidity may prevent investors from making emotional decisions that harm returns.#InvestmentStrategy#