邵宇：泡沫并不是一个负面的词，它决定往哪里引导资源

Group 1 - The 2026 China Chief Economist Forum Annual Meeting will be held on January 10-11 in Shanghai, with the theme "Chess in the Middle Game: Building a Strong Nation" [1][2] - Senior researcher Shao Yu from the National Financial and Development Laboratory attended and delivered a speech at the forum [1][2] Group 2 - Shao Yu identified the three hardest bubbles in 2026 as: first, gold; second, the volatile gold this year; and third, artificial intelligence [3][5] - He emphasized that artificial intelligence represents not only a current bubble but also the largest bubble in human history to date [3][5] - Shao Yu noted that if bubbles are categorized, technology bubbles are the least harmful type, as significant technological and industrial innovations are often driven by bubbles [3][5] - He stated that bubbles signify the allocation of more resources to certain areas, citing examples like railways and the internet, which have transformed human life [3][5] - Shao Yu expressed that he does not view bubbles negatively, as they determine where resources are directed [3][5]