登高稳行！张忆东最新分享：2026年从海外看中国、从美国看全球，聚焦三大结构性热点……

Group 1 - The core viewpoint emphasizes that the U.S. midterm elections are a critical variable affecting global dynamics, particularly in relation to monetary policy and economic confidence [2][10][13] - The U.S. dollar is expected to weaken overall, but the rate of depreciation will slow compared to 2025 [23][31] - The current AI wave in the U.S. is compared to significant historical initiatives, indicating its potential impact on the economy and stock market [33][37] Group 2 - China's economic challenges from old growth drivers are diminishing, but structural issues remain, necessitating a focus on structural opportunities [42][50] - The real estate market is highlighted as a key area of concern, with the potential for stabilization and recovery in property values [44][48] - Investment opportunities in China are expected to arise from government guidance on wealth allocation, particularly in emerging sectors outlined in the 15th Five-Year Plan [50][52] Group 3 - The focus for investment in 2026 should be on stability rather than speculation, with an emphasis on company value rather than market hype [4][60] - The return of foreign capital, particularly through passive ETFs and active management funds, indicates a positive shift in investment sentiment towards China [61][63] - The restructuring of supply chains and industries presents new opportunities, especially in less prominent sectors like steel and chemicals [56][58]