广发证券所长助理、首席策略刘晨明：三大化债路径揭示AI和黄金时代到来

Group 1 - The core viewpoint is that there are three methods for debt reduction without substantial defaults: real growth exceeding real interest rates (growth-based debt reduction), inflation exceeding expectations (inflation-based debt reduction), and fiscal tightening (fiscal-based debt reduction) [1] - AI and gold are expected to ultimately benefit from the aforementioned debt reduction pathways [1]