Group 1 - Major tech companies including OpenAI, Microsoft, and AMD urged the U.S. government to enhance infrastructure, reduce regulatory barriers, and increase AI exports during a Senate hearing [1][3] - OpenAI CEO Sam Altman's shift from warning about AI's potential dangers to advocating for less regulation highlights the urgency for infrastructure improvements, particularly in power supply for AI projects [3][5] - AMD CEO Lisa Su pointed out that despite U.S. export restrictions, Chinese companies are still acquiring AI chips, indicating a robust demand for AI technology in China [5][9] Group 2 - The Senate hearing revealed bipartisan concerns over AI, with a projected budget exceeding $4.3 trillion for AI infrastructure improvements by 2030, indicating a significant investment push [7][9] - A proposed simplified chip ban by the Trump administration aims to restrict Chinese access to technology while simultaneously benefiting Silicon Valley [9][10] - The tech giants are leveraging national security narratives to push for government funding for infrastructure, advocating for relaxed export restrictions, and attempting to shape regulatory frameworks to stifle emerging competitors [10]

Group 1 - Two Republican lawmakers urged the SEC to delist Chinese companies, including Alibaba, claiming ties to the military pose a national security risk [1] - The U.S. has over 100 Chinese companies listed on its exchanges, with a total market capitalization of approximately $1 trillion [1] - The competitive landscape between the U.S. and China is characterized by a long-term strategy of suppression from the U.S. side, with tariffs being a common tool used by the government [1] Group 2 - Trump stated that the American film industry is rapidly declining, with foreign countries attracting U.S. filmmakers through incentives, which he claims poses a national security threat [3] - He proposed a 100% tariff on films produced abroad to protect the U.S. film industry, although this could lead to retaliatory measures from other countries [3] - The decision to increase tariffs on foreign films may reduce audience choices and shrink Hollywood's market share, given the industry's reliance on global box office revenue [3] Group 3 - Trump indicated a willingness to lower tariffs on China at some point, suggesting that without such action, the U.S. would struggle to do business with China [5] - He criticized China for taking advantage of the U.S. in global trade, claiming that the U.S. lost $1 trillion during Biden's presidency [6] - Recent inflation trends in the U.S. have led to concerns about shortages, with reports of empty supermarket shelves and dwindling supplies of Chinese-made products [6] Group 4 - Trump's focus on Hollywood stems from the industry's significant cultural influence, which plays a role in the U.S.'s global image and talent attraction [8] - The film industry, while relatively small in trade terms, has a large impact on the ideological and cultural output of the U.S. [8]

Group 1 - Hong Hao, Chief Economist at Sire, believes that Hong Kong stocks will perform well in the second half of the year, particularly in the technology sector, which is more attractive than US tech stocks [1][3] - The US stock market is still considered overvalued, needing to drop by at least one-third to reach a reasonable valuation of around 15 times earnings, especially if fiscal policies contract rather than expand [1][2] - There is a potential for a trading rebound in the US stock market, but it is not indicative of a market reversal, and this trading window may last for a couple of weeks or longer [1] Group 2 - The US economic outlook is deteriorating rapidly, with the first quarter showing negative GDP growth due to inventory impacts, and similar trends are expected in the second quarter [2] - The dollar remains supported despite potential interest rate cuts by the Federal Reserve, as the interest rate differential between the US and China remains significant, influencing capital flows [2] - Chinese technology stocks, particularly those listed in Hong Kong, are seen as having higher value and safety margins due to their lower prices and expected policy support amid US-China competition [3]

编者按：2025年3月11日，中国人民大学重阳金融研究院（人大重阳）在 "中国制造2025"提出十周年主题研讨会 上发布了 《十年跃迁：美国各界评 估"中国制造2025"的文献总结及"制造强国"的未来展望》 智库报告，引发国 内外广泛关注。近日，该报告论文版在 《中国科学院院刊》2025年第4期 刊 发。作者：人大重阳院长 王文 、副研究员 申宇婧 、助理研究员 金臻 。 现 将文章全文发布如下，供研究参考。 "中国制造"，制造强国，中美竞争，科技创新 正 文 党的十八大以来，以习近平同志为核心的党中央高度重视制造业发展，作出建设制造强国的重大战略规划。 经过10余年发展，中国制造业的发展取得举世瞩目的成就，制造强国战略目标"三步走"的第一个十年规划于2025 年完成。随之而来的是，全球范围内对中国制造业进展的关注度日益升温，尤其是美国政府、学术界与媒体界对 中国制造强国发展战略（以下简称"中国制造"）表示了极大的关切，通过发布多份研究报告、深度文章等形式全 方位跟踪"中国制造"的实施动态。尤其以2024年9月时任美国参议员马尔科·鲁比奥（Marco Rubio）发布约2万 字的深度长文报告为典型。该报告在充 ...

周二，美国财政部长贝森特在摩根大通的一场闭门活动中表示，中美双方的关税战将很快降级。 特朗普也在公开场合发表了讲话，承认美国目前对自中国进口商品的关税过高，预计税率将大幅 降低。这标志着特朗普在其标志性的关税政策上态度已出现缓和。 为什么中国坚决反制美国滥加关税，同时大力强调提振内需？中国经济持续发展的引擎是什么？ 以下内容摘自曹远征教授新作《失衡与重塑》。 01 为什么中美竞争不同于日美竞争？ 据统计，2020年后，中国社会消费品零售总额就与美国类似指标相当，中国已是仅次于美国的第 二大消费市场，并具有超越之势。 目前中国正处于高收入社会的门槛处，其中约４亿人口的家庭收入已基本赶上发达国家。他们的 消费行为、生活方式以及社会心理也与发达国家相若，青睐高新科技产品，希望获得更好的医疗 服务，追求高品质教育，关注时尚潮流，甚至期望引领风气。 这一消费群体虽然占人口的比重不高，但总数却与美国相当，他们的需求和行为在推动中国产业 升级的同时，当然也与美国等发达国家的高新技术产业产生了正面竞争，其中中国新能源汽车的 发展所引起的国际摩擦就是例证。 由于摩擦在性质上类似于20世纪90年代的日美摩擦，从而国际社会也想当然 ...