欧美国家联手贬值推人民币升值？中国将计就计反杀，他们不得不买

Group 1 - The article discusses an unusual phenomenon in the international financial and commodity markets, specifically the panic-driven accumulation of copper inventories in the US, which now accounts for nearly half of the global copper stock [1][3] - The US's copper consumption is limited, and the current inventory levels indicate a strategic panic rather than normal business operations, with Europe also aggressively purchasing aluminum [3][6] - The appreciation of the offshore RMB against the USD, projected to break the 7.0 mark by December 2025, is linked to the unusual copper inventory situation, suggesting a broader struggle for global pricing power [5][6] Group 2 - The article argues that the traditional understanding of currency fluctuations benefiting exports and imports is outdated, as the current situation reflects a strategic maneuver in a global power struggle [8][10] - The US has recognized the limitations of relying solely on financial power, especially when supply chain disruptions occur, prompting a shift in strategy towards "decoupling" and "reshoring" manufacturing [11][13] - The strengthening of the RMB is seen as a tactical response to pressure from the West, with China opting to appreciate its currency rather than devalue it, which could lead to a price increase for Chinese goods [15][17] Group 3 - The concept of "anti-involution" is introduced as a response to the RMB appreciation, aiming to prevent destructive price competition among businesses and encouraging price increases to maintain profitability [19][21] - The strategy involves a "cleaning up" of the industry, where weaker companies relying on low prices will struggle to survive, allowing market share to concentrate among stronger firms [25][27] - The article emphasizes that only by ensuring the survival of leading companies can China transition from being a large manufacturing base to a strong one, capable of investing in advanced technologies [29][31] Group 4 - China's trade surplus has reached a historic high, indicating that despite tariffs and currency appreciation, Western countries continue to rely on Chinese goods, highlighting the latter's indispensable role in global supply chains [31][33] - The article posits that this situation reflects a strategic advantage for China, as it maintains control over essential supply chains in various sectors, including renewable energy and high-tech components [33][34] - The overarching narrative suggests that understanding these trends is crucial for navigating the investment landscape, as the future wealth logic is being shaped by these dynamics [36]