历史的转向，并非总以轰鸣的炮火为标志，有时，它只是简历被放入碎纸机时发出的滋滋声......当有些 媒体还在嘲笑年轻人"不肯内卷""不愿加班"时，不妨问一句：是谁告诉他们的父辈，拼命未必有回报？ ...

内卷这一概念最初由人类学家格尔茨提出，用于描述农业社会在资源有限情况下，劳动投入增加而产出不增的现象。 尽管内卷在过去描述的是农业社会，但今天这个词的本意，仍然没有变。那就是劳动投入增加而产出不增的现象，都可以被称为内卷。 所以，现在来回答这个问题，内卷，卷的到底是什么？ 其实是人们渴望维持或增加收入的底层动机带来的结果。 但为什么会内卷呢？ 从宏观角度来看，目前国内市场的竞争激烈程度的确远超欧美，甚至是日韩。以汽车行业为例，其他汽车大国的汽车制造商屈指可数，但我国仍然还有100 多家汽车制造商在争夺市场份额。 如果内卷一直持续下去，会带来什么后果？ 首先就是价格的螺旋式下降。一家企业降价，其他企业不得不选择跟进，进而导致价格一路下跌，一旦消费者有了商品价格不断下跌的预期，那么将在短期 内难以恢复。 20世纪90年代，日本就曾经发生过类似的事件，一度让日本陷入到了价格螺旋式下跌的周期循环之中。 所以，为了遏制竞争，我国正在通过各种办法来让企业维持价格稳定，并开始削减补贴来遏制这种现象，虽然做不到涨价，但不降价本身，也是一种胜利。 在太阳能领域，我国的太阳能组件制造商数量也非常多，以至于产量高出全球需求的50% ...

以下文章来源于华夏能源网 ，作者www.hxny.com 华夏能源网 . 能源产业与财经信息服务平台 将投中网设为"星标⭐"，第一时间收获最新推送 中国企业换个地方继续厮杀。 作者丨 田思 编辑丨 蒋波 来源丨 华夏能源网 9月24日， 鸿钧新能源 与沙特合作伙伴正式签署合作协议，双方将在沙特阿拉伯共同建设 6GW高 效异质结组件生产基地 。 鸿钧新能源成立于 2023年 ，主要从事异质结太阳能电池及组件的生产和销售，格力集团是股东之 一。此前，公司已在珠海、启东投建了两大基地，此次是公司首次在海外建厂。 鸿钧新能源是今年众多 中国 光伏企业出海建厂的最新一例。 中东的地理位置和主要国家（图源：网络） 华夏能源网不完全统计，2025年以来至少有15家中国光伏企业公布在海外建厂计划，投资总规模超 204亿元，中东及周边地区是最受青睐的出海热土。 | | | 2025年1-9月中国光伏企业海外产能布局统计表 | | | | | | --- | --- | --- | --- | --- | --- | --- | | | | 制图/华夏能源网 | | | | | | 公布日期 | 企业名称 | 项目名称 | 项目 ...

2025年10月，某连锁超市推出"满300减50"活动，收银台前排起长队。消费者李女士拎着两大袋日用品感慨："不买感觉亏了，可算下来，这些东西比平时也 没便宜多少。"这种"薅羊毛"的背后，是普通家庭正在经历的"隐形消耗"——收入增长停滞，生活成本却因"内卷式竞争"持续攀升，钱包被五种方式悄悄"掏 空"。 电商平台"双11"规则越来越复杂，满减、折扣、红包叠加，消费者需花数小时计算"最优解"。某宝妈晒出购物清单：为凑满减买了3箱纸巾、5袋洗衣液，实 际支出比预算多200元。这种"为省而买"的心理，被商家精准拿捏。 直播带货更将"内卷"推向极致。主播高喊"全网最低价"，消费者冲动下单后发现，同款商品在其他平台价格更低，或质量与描述不符。2025年消费投诉数据 显示，直播购物纠纷同比增长40%，其中"价格误导"占比超60%。 预售制则让消费者"钱货两空"。某品牌手机预售期长达45天，消费者需提前支付全款，到手时新品已变"旧款"。这种"时间套利"模式，本质是商家占用消费 者资金，降低自身库存成本。 这些"内卷式消费"看似省钱，实则让家庭支出失控。央行调查显示，2025年上半年居民消费贷款余额突破18万亿元，其中30% ...

从左到右：芯声ChipRadio主理人、芝能汽车主理人、新能源产业家主理人、魔视智能 在《智驾的故事，行业讲到哪个环节了？》环节中，大V们从汽车市场发生的热点事件中开始剖析，认 为今年汽车市场进入了前所未有的"内卷时代"。在有"卷"也有"机会"，AI技术的发展，着实在改变着行 业方方面面。目前，大V们认为，行业最大的痛点是内卷的各种形态，如果是单维度的竞争，那最优秀 的人，可能会被最没有底线的人淘汰出这个市场。因为最优秀的人，它必然有很多其他维度的成本投 入，包括一些不可能立刻兑现的投入，但没有底线的人，可以无限制的降价打崩对手，可以把无限制的 向社会抛售负外部性 ，而且可以采取很激进的手段打崩对手的现金流，在对方的长期投入发力前就逐 出这个市场。 上游制造圈大V、材料部件装备芯观察主理人、为芯研究院联合创始人温旭带来了题为《内卷·并购·突 破，半导体国产前道设备赛道趋势洞察与战略展望》的干货分享。前不久，某知名企业大咖分享了国内 上游制造内卷的15种表现，包含剽窃、诋毁等手段。造成如此原因大概有三点，Fab厂扩产变缓；龙头 设备公司所做内容变多；简单的东西都做完了，难的却做不出来。我们只能在全球化合作中寻找 ...

Economic Growth Outlook - The Chinese economy is expected to experience a slowdown in growth in the second half of the year, with GDP growth forecasted to average 4.6% year-on-year for the third quarter of 2025, down from 5.2% in the previous quarter [2][6][8] - The National Bureau of Statistics of China will release GDP data for July to September on October 20, with predictions for actual growth rates ranging from 4.2% to 5.0% [4] Consumer Demand and Retail Sales - Weak domestic demand is identified as a primary factor contributing to the economic slowdown, with retail sales growth declining since reaching a peak in May [6][8] - The "negative asset effect" from declining housing prices is leading to decreased consumer confidence and spending [6] Industry Competition and Pricing Pressure - Over-competition in sectors such as electric vehicles, steel, and photovoltaic panels has led to aggressive price reductions, prompting government intervention to address excessive competition [6][8] - The policy aimed at curbing price wars may have short-term benefits but could also lead to reduced production and investment by companies [8] Trade Relations and Export Outlook - The previously concerning U.S.-China trade tensions have eased, but uncertainties remain, particularly regarding potential tariffs on exports to the U.S. [8][9] - Despite support from ASEAN markets, exports to the U.S. continue to decline, affecting market confidence [8] Monetary Policy and Currency Forecast - There is speculation that the Chinese government may introduce stimulus measures to boost domestic demand by the end of the year [9] - Predictions indicate a moderate appreciation of the Chinese yuan against the U.S. dollar, with an expected exchange rate of 1 USD to 7.12 CNY by the end of 2025 [9] Stock Market and Investment Trends - The Chinese stock market has seen a surge in AI-related stocks, attracting previously hesitant foreign investments, which may further support yuan appreciation [10] - However, the potential for yuan appreciation could negatively impact exports, necessitating careful policy management [10]

以下文章来源于中国宏观经济论坛 CMF ，作者杨瑞龙 中国宏观经济论坛 CMF . 创立于2006年，由中国人民大学国发院、经济学院、中诚信国际信用评级有限公司联合主办。依托人大经济学一级学科排名全国第一的优秀研究力量，诚邀 社会知名专家，集中从事中国宏观经济动态和重大经济问题研究，定期发布分析与预测报告。 文/ 中国人民大学国家一级教授、经济研究所联席所长、中国宏观经济论坛 （CMF）联合创始人、联席主席 杨瑞龙 在 探 寻 价 格 走 出 低 迷 格 局 的 思 路 时 ， 尽 管 宏 观 经 济 政 策 具 备 一 定 调 控 效 能，但单纯依赖宏观政策显然不足以破解目前的困局。近年来，尽管财政 政策持续积极、货币政策保持相对宽松，政策力度不可谓不大，然而其对 提 振 需 求 的 实 际 效 果 却 未 达 到 预 期 。 这 并 非 否 定 宏 观 政 策 的 重 要 性 ， 相 反，仍需进一步强化宏观经济政策的刺激力度。 从经济学视角考察，价格持续低迷可归因于供需两端：需求不足或供给过度。 从需求端分析，需求不足并非指意愿层面的需求不足，而是有效需 求不足。意愿需求也被成为瓦尔拉斯需求函数， 它描述 ...

Core Viewpoint - The article discusses the phenomenon of "involution" in China, which refers to excessive competition that is affecting the performance of Japanese companies operating in China. However, some Japanese firms are adapting by leveraging the competitive environment to enhance their global competitiveness, which they had previously diminished or exited from [2]. Group 1: Panasonic's Strategy - Panasonic's automatic door business, which started in the 1970s, exited the Japanese market in 2009 due to poor performance but found growth opportunities in China, particularly with the 2008 Beijing Olympics [5]. - The company has established a comprehensive system in China from development to manufacturing and sales, integrating reliability and safety technology from Japan with local cost competitiveness [5]. - Panasonic aims to increase its overseas sales ratio from approximately 60% to nearly 85% by 2030, targeting a position among the top three globally [6]. Group 2: Honda's Development - Honda is utilizing its Chongqing base to develop a core business for general engines, which were previously produced in Japan. The production has now shifted to Chongqing, Thailand, and India for efficiency [7]. - The Chongqing facility accounts for about 70% of the global output of general engines, benefiting from significant scale effects and digital transformation initiatives [7]. - Honda plans to replicate the successful cost competitiveness and quality improvements from its Chongqing base to other countries [7]. Group 3: Supply Chain Adaptation - Panasonic has begun transferring some functions of its global parts supplier selection to its Shanghai base, reversing the previous model of importing parts from Japan [8]. - Approximately 6,000 companies that have excelled in the competitive environment are now supplying cost-competitive parts to Panasonic's global operations [8]. - A survey indicates that the business conditions for Japanese companies in China are expected to worsen in the first half of 2025 compared to the second half of 2024, highlighting the need for Japanese firms to adapt and leverage the advantages of Chinese companies [8].

Core Viewpoint - The discussion highlights the contrasting work cultures and efficiency perceptions between employees in different countries, particularly between Singapore and China, with a focus on work hours and productivity [1][2][3][4]. Group 1: Work Hours and Efficiency - A Singaporean employee shared their experience of leaving work at 7 PM, which sparked a debate about efficiency compared to Chinese employees who often start late shifts at 7 PM [1][2]. - Chinese employees argue that the culture of overtime is not necessarily linked to efficiency but is a result of internal competition and work culture [2][3]. - Comments from international employees indicate that 7 PM is considered late in many countries, with most employees in the UK and the US typically finishing work earlier [3][4]. Group 2: Cultural Differences in Work Environment - Employees from the UK and the US expressed that working until 7 PM is seen as excessive, with many expecting to leave by 5 or 6 PM [3][4]. - A Singaporean employee pointed out that the contractual obligation to leave at 7 PM should be respected, emphasizing that the focus should not be on comparing efficiencies but on adhering to agreed work hours [3]. - The discussion also reflects on the perception of work-life balance and the need for mutual understanding among international teams regarding different work practices [4].

Core Viewpoint - The article discusses the phenomenon of "involution" in industries, particularly in the solar energy sector, where increased competition leads to price wars and reduced profitability for companies, prompting the government to implement measures to counteract this trend [5][8][34]. Group 1: Industry Overview - China is the world's largest industrial nation, contributing $30 out of every $100 of industrial products globally [3]. - Despite the growth in industrial scale and product sales, many companies are operating at a loss due to intense competition and price reductions [5][20]. Group 2: Involution in the Solar Industry - The solar industry experienced a surge in demand due to global energy transition efforts, attracting numerous competitors, including over a hundred cross-industry entrants from 2022 to 2023 [10][17]. - The influx of competitors has led to severe product homogenization and intensified competition, resulting in price wars [20][22]. Group 3: Strategies of Dominant Players - Dominant players, referred to as "卷王" (involution kings), leverage their strong cash flow and lower production costs to outlast weaker competitors in the market [23][27]. - These dominant companies are willing to sustain short-term losses to gain market share and pricing power in the long run [29][30]. Group 4: Government Response - The Chinese government has recognized the risks posed by industrial involution, which threatens economic stability and employment, as the industrial sector accounts for over 30% of GDP [31][34]. - Starting from July of the previous year, the government has implemented various policies to combat involution, including production quotas in the solar industry to limit supply and stabilize prices [36][38]. Group 5: Market Impact - The solar sector has seen a price recovery and a significant increase in stock performance, with the sector rising over 17% this year, while the broader anti-involution index has increased by nearly 50% [43].