彭博社：全球经济秩序重构背景下，美中资本流向出现逆转

Investment Rating - The report indicates a significant shift in global investment dynamics, with a focus on the electric vehicle and battery manufacturing sectors, particularly highlighting the contrasting fates of Ford and CATL in Germany [3][4][36]. Core Insights - The report emphasizes the reversal of capital flows between the US and China, with China increasingly investing in new manufacturing plants and data centers abroad, while the US seeks to attract foreign investment back to its shores [4][8][9]. - It highlights that by the first half of 2025, China's outbound investment is projected to exceed that of the US, accounting for 10% of global totals, while the US attracts a significant share of global inbound investment [8][9]. - The report notes that the trend of Chinese companies investing in new projects abroad is accelerating, with a record high expected in 2025, particularly in the electric vehicle sector [9][10]. Summary by Sections - US-China Investment Dynamics: The report discusses how the US is reshaping its economic relationships globally, pushing for foreign companies to establish manufacturing within the US, while China is filling the void by expanding its investments abroad, particularly in Europe [4][8][18]. - Sector-Specific Trends: It details the significant investments by Chinese firms in electric vehicle manufacturing and data centers, with notable projects like the $38 billion investment by ByteDance in Brazil and a $5.9 billion chemical plant in Indonesia [10][31]. - Regional Investment Patterns: The report outlines how countries in Southeast Asia and Africa are increasingly reliant on Chinese investments, with China focusing on building infrastructure and manufacturing capabilities in these regions [35][36]. - European Market Dynamics: The report highlights the competitive landscape in Europe, particularly in the electric vehicle sector, where companies like Ford are adapting their strategies in response to the influx of Chinese manufacturers [36][39][42].