历史性一周，全球市场格局巨变

Core Insights - The article discusses significant global financial market events, including the initiation of the US trade war, Europe's historic shift towards military independence, and China's technological advancements in AI [1][2][5]. Group 1: US Trade War - The US has imposed a 25% tariff on goods from Mexico and Canada, effective March 4, with potential for negotiated exemptions under the USMCA [4]. - Following market volatility, US Commerce Secretary suggested possible compromises on tariffs, indicating a more measured approach than initially expected [4]. Group 2: European Economic and Military Independence - The "London Agreement" marks a pivotal shift in European defense cooperation, aiming for greater independence from US policies, particularly in light of the Ukraine conflict [8][13]. - Germany announced a substantial fiscal stimulus plan, including a special fund of up to €500 billion for infrastructure and defense, potentially exceeding €1 trillion in total [9][10]. Group 3: Technological Advancements in China - Alibaba's release of the QwQ-32B model, which has 32 billion parameters, demonstrates China's growing capabilities in AI, achieving performance comparable to models with significantly more parameters at a fraction of the cost [6][5]. Group 4: Currency and Investment Trends - The euro has appreciated over 4% against the dollar following the "London Agreement," while traditional currencies like the Australian and Canadian dollars have weakened [10][16]. - Investors are increasingly shifting focus from US assets to European markets, reflecting a growing skepticism towards the US economic outlook [17][16].