Core Viewpoint - The article emphasizes that "anti-involution" should not be equated with "anti-competition" and requires systematic measures to address its complex causes rather than simplistic solutions like price increases or capacity reduction [1][3][15]. Summary by Sections Involution in Industries - Involution-style competition has been spreading across various industries, characterized by price mechanism failures, low innovation, and market disorder, indicating systemic issues like insufficient effective demand and inefficient resource allocation [2][16]. - The Central Economic Work Conference in December 2024 proposed comprehensive measures to rectify involution-style competition, prompting responses from various ministries and industry associations [2][6]. Role of Industry Associations - Industry associations and leading enterprises are taking initiatives to address involution through self-regulation agreements on price and capacity, although these may raise antitrust concerns [2][7]. - Huang Yong, a professor specializing in antitrust law, warns that some actions by industry associations may already pose legal risks under China's Antitrust Law [3][5]. Antitrust Concerns - Antitrust behavior is categorized into three types: inherently illegal actions, core behaviors, and those subject to reasonable analysis [3]. - Current initiatives by industry associations focusing on price and capacity coordination may violate antitrust regulations, leading to significant compliance risks for Chinese industries [3][7]. Types of Involution - Huang categorizes involution into three types: 1. Policy-driven involution, often seen in traditional manufacturing and AI sectors, where local government interventions distort market competition [16][19]. 2. Market distortion involution, prevalent in e-commerce and platform industries, where price competition overshadows quality and innovation [16][18]. 3. Behavior infringement involution, characterized by low-quality products flooding the market, marginalizing quality enterprises [18][19]. Systematic Solutions - Addressing involution requires a multifaceted approach that respects market dynamics and promotes innovation, including enhancing intellectual property protection and improving regulatory capabilities [19]. - The article stresses the importance of a coordinated policy framework that integrates competition, industrial, fiscal, and employment policies to effectively tackle involution [19].

Core Viewpoint - The speech by Jean Tirole emphasizes the critical role of markets in driving economic growth and technological advancement, particularly in China since the 1980s [1][3]. Group 1: Market Dynamics - Competition is essential for markets; monopolies raise prices and stifle innovation due to a lack of self-disruption motivation and competitive pressure [3]. - Large enterprises often become conservative due to scale effects, relying on patent barriers and lobbying to maintain market positions [3]. Group 2: Government and Market Relationship - The relationship between market and government is complementary; both are necessary, but government can also "fail" like markets [3][4]. - Government intervention is crucial to prevent illegal monopolies and ensure fair income distribution through antitrust laws, consumer protection, and innovation policies [3][4]. Group 3: Digital Economy and Innovation - The government should create a competitive environment and implement sound competition policies rather than unnecessary regulations [4]. - Encouraging data portability and interoperability can lower switching costs and provide users with more choices, fostering innovation [4]. Group 4: Ecosystem and Collaboration - A neutral competitive ecosystem should be established where all companies can participate fairly, including universities that promote critical thinking [4]. - Innovation thrives in an environment that balances competition and cooperation, supported by infrastructure and data-sharing mechanisms [4]. Group 5: Global Challenges and Multilateralism - Current global challenges such as geopolitical divisions and trade wars hinder cross-border cooperation and knowledge flow [5]. - A commitment to multilateralism and rule-based cooperation is essential for long-term social goals and economic prosperity [5].

Core Viewpoint - TikTokNusantara (SG) Pte. Ltd. denies allegations of monopolistic behavior following its acquisition of 75.01% of PT Tokopedia, despite concerns raised by the Indonesian Business Competition Supervisory Commission (KPPU) regarding potential market dominance [2][4]. Group 1: Acquisition Details - On January 31, 2024, TikTokNusantara successfully acquired 75.01% of PT Tokopedia, a leading player in Indonesia's e-commerce sector with a large user base and significant market share [2]. - The integration of TikTok and Tokopedia has raised concerns about changes in the competitive landscape of the e-commerce market [2]. Group 2: KPPU Investigation Findings - KPPU's investigation found no significant barriers to market entry or increased entry thresholds for new businesses, but noted significant network effects and potential risks related to bundling and tie-in sales [2][3]. - These factors could negatively impact consumers and other businesses, particularly small and medium-sized enterprises, leading to questions about monopolistic practices [2]. Group 3: TikTok's Response - TikTok's legal advisor stated that sales on Tokopedia and ShopTokopedia comply with existing regulations, emphasizing that the platforms collaborate with multiple logistics and payment service providers, ensuring open competition [3]. - TikTok does not engage in bundling or tie-in sales and respects users' freedom to promote products from other e-commerce platforms [3]. - TikTok has committed to cooperating with KPPU's proposals for conditional approvals, including maintaining an open payment and logistics system and submitting regular reports [3]. Group 4: Market Implications - TikTok's response to the monopolistic allegations reflects its respect for market rules and aims to instill confidence in the healthy development of Indonesia's e-commerce market [4]. - The future of TikTok and Tokopedia's collaboration will be closely monitored as regulatory scrutiny and market dynamics evolve [4].

Core Viewpoint - The current licensing model of VMware is reportedly in violation of European competition regulations, raising concerns about Broadcom's business practices and their impact on cloud service providers in Europe [4][5]. Group 1: Licensing Issues - Broadcom has transitioned many VMware customers to a new licensing framework, which has resulted in significant financial burdens and operational disadvantages for clients [4][5]. - The European Cloud Computing Competition Observatory (ECCO) indicates that VMware's licensing practices may harm both customers and the broader European cloud ecosystem, suggesting that shareholders should question the legality of this model [5]. Group 2: Partner Program Changes - VMware has raised prices after eliminating perpetual licenses and monthly pay-as-you-go pricing, which has been a major concern for its cloud partners and customers [5]. - The ECCO report highlights that Broadcom's recent modifications to its partner program force cloud service providers to choose between acting as service providers or resellers, further diminishing their competitive capabilities [5]. Group 3: Recommendations for Change - CISPE and ECCO have called for Broadcom to implement significant changes to restore fair licensing for cloud service providers, including a six-month notice period for any changes in contract terms or pricing structures [6]. - Smaller cloud service providers should have easier access to higher partnership levels, and there should be more transparent pricing models that reflect actual usage [6].

Core Viewpoint - The article discusses the transition from a mercantilist trade system dominated by the British East India Company to a more decentralized and spontaneous free trade era characterized by "scatter merchants" in the context of global history [2][3][4]. Group 1: Historical Context - The British government utilized the East India Company to engage in the opium trade, instigating the Opium Wars to control trade with China, leading to the company's eventual dissolution and the end of the Silver Age [2][3]. - The Silver Age was marked by the British Industrial Revolution and free trade, culminating in significant historical events such as the bankruptcy of the East India Company and the destruction of the Old Summer Palace during the Second Opium War [2][3]. Group 2: The Role of "Scatter Merchants" - The book "Mr. Smith Goes to China" by Han Jiexie focuses on the activities of three Scottish merchants named George Smith, whose trade activities in India and China illustrate the rise of the British global empire [2][3]. - These merchants operated during the Qianlong period, and their trade demands prompted the Macartney Mission to China, contributing to the development of a global trade network [3][4]. Group 3: Trade Dynamics - The trade triangle formed between Britain, India, and China involved the exchange of goods such as tea, silver, cotton, and opium, shaping the economic geography of modern Asia [5][6]. - The East India Company collaborated with the Cohong (Thirteen Hongs) to create a trade and financial system known as the "Guangzhou System," which was later disrupted by the activities of the "Smiths" [5][6]. Group 4: Financial Operations - The "Smiths" provided high-risk loans to Chinese merchants at interest rates of 18%-22%, which, while lower than the legal rate of 36%, led to widespread defaults and contributed to the 1779 Guangzhou financial crisis [7][8]. - They utilized the East India Company's financial system to facilitate the flow of silver from India to Guangzhou, supporting the company's tea purchases, with significant amounts of silver injected into the system [6][7]. Group 5: Impact on Trade Policies - The actions of the "Smiths" challenged the monopoly of the East India Company, leading to a shift in British colonial policy towards more liberal trade practices, culminating in the repeal of the company's trading privileges in 1813 [9][10]. - The article highlights the inherent contradictions in the relationship between the "Smiths" and the East India Company, characterized by both dependency and a desire to undermine the company's monopoly [6][9]. Group 6: The Role of Scottish Merchants - Scottish merchants were significantly more active in trade compared to their English counterparts, driven by a historical context of conquest and subjugation, which fostered a spirit of independence and opposition to monopolistic practices [10][11]. - The "Smiths" embodied the ideals of Adam Smith's free trade philosophy, acting as practitioners of these ideas in the context of the global economy [9][10].

广州一二手市场"去贝壳化" 最近，广州多个新盘"去贝壳化"后，意外火爆。 "垄断"这一招，贝壳找房app怎么就在广州不合时宜？ 只能说，这个城市容不得一点"套路"。 在"去贝壳化"上，越秀地产打响了第一枪。 越秀云悦去年底开盘，在白云首战告捷，靠着自媒体和全民营销助力，直接创下5个月清盘神话。 呐，有图有真相，全盘3栋楼，没有网签的已经寥寥无几了。 | 应号 | 项目名称 | 开发商 | 预售证 | 项目地址 | 任宅已售 套数 | 住宅未售 套數 | | --- | --- | --- | --- | --- | --- | --- | | 1 | 云悦图(自编号3#) | 广州越秀华城房地产开发 | 20240423 | 君云区京嘉街金殿社区怡 | 102 | 3 | | | | 有限公司 | | 新路258号 | | | | S | 云悦园(宫鼎号2#) | 成十九起受华城房地产开发 | 20250013 | 年区 标题在线观点区 日 | 89 | 16 | | | | 有限公司 | | 新路260号 | | | | 3 | 云悦园(自编号1#) | 广州越秀华城房地产开发 | 20240464 | 白 ...

Core Insights - The article discusses four companies that consistently rank high on the "public dislike list" due to various controversies surrounding their business practices and ethical standards [1] Group 1: Meta (formerly Facebook) - Meta is criticized for its handling of user privacy, particularly following the Cambridge Analytica scandal where over 87 million user data was misused, resulting in a $5 billion settlement, the largest corporate fine in U.S. history [3] - A 2022 Pew Research Center survey indicated that 72% of U.S. social media users believe Meta lacks transparency in data collection [3] Group 2: Comcast - Comcast has been named the "worst customer service company" for seven consecutive years, facing complaints about hidden fees and frequent service interruptions [5] - In 2021, the Federal Communications Commission received over 120,000 complaints regarding Comcast's bundled sales and billing disputes [5] - Despite a 40% profit margin in its broadband business reported in 2022, customer satisfaction remains 15 percentage points below the industry average [5] Group 3: Ticketmaster - Ticketmaster controls over 80% of the U.S. market for large event ticketing, following its acquisition of Live Nation [8] - The company charges service fees that can reach up to 75% of the ticket price, generating over $2 billion in service fee revenue in 2021 [8] - Dynamic pricing practices have led to significant price increases shortly after ticket sales begin, prompting investigations from 34 state attorneys general [8] Group 4: Boeing - Boeing's reputation suffered after two fatal 737 MAX crashes in 2018-2019, which resulted in 346 deaths and revealed serious design flaws that were concealed to expedite delivery [10] - Internal documents indicated that engineers had warned about the system risks as early as 2016 [10] - The company reported a net loss of $5 billion in 2022, as its market share was overtaken by Airbus due to a loss of public trust [10] Group 5: Broader Implications - The controversies surrounding these companies highlight the tension between profit motives and public interest, with issues such as data ownership, lack of competition, regulatory lag, and ethical failures being central themes [12] - Public backlash is driving change, as consumers shift towards alternatives that prioritize transparency and ethical practices [12]

市场消息：欧盟表示，由于用户数量下降至某一临界值以下，Meta的市场平台不再被视为垄断者或门 户。 ...

Core Viewpoint - The article discusses the disruption of established pharmaceutical monopolies, particularly focusing on the case of Viagra and the emergence of cost-effective alternatives in the Chinese market, highlighting the impact of competitive pricing and innovative business models on traditional market leaders [1][10]. Section Summaries Introduction - The launch of deepseek, a large model trained with 2048 NVIDIA H800 chips, parallels historical market disruptions, leading to significant declines in stock prices for major players like NVIDIA, suggesting a pattern of vulnerability in perceived monopolies [1]. Origin of Viagra - Viagra, developed from an unexpected discovery in the 1990s, became a commercial success with over $32 billion in sales from 1998 to 2017, establishing a strong market presence during its patent period [2][3]. Challenges to Viagra - Despite the introduction of Cialis in 2002, Viagra maintained its dominance due to similar pricing strategies among leading pharmaceutical companies, which avoided triggering price wars [5][6]. Emergence of Chinese Competitors - Following the expiration of Viagra's patent in China in 2014, local companies introduced generics at 20%-30% lower prices, leading to a significant market shift with products like "惯爱" priced at 3-6 RMB, drastically reducing patient costs [6][7]. Business Strategy of "惯爱" - The success of "惯爱" is attributed to a disruptive pricing strategy that expands market share and reduces costs through economies of scale, creating a positive feedback loop of growth and innovation [7][8]. Production and Supply Chain Advantages - China's position as the largest producer of active pharmaceutical ingredients has lowered production costs, enabling competitive pricing for domestic drugs [8][9]. Technological Advancements in Production - The automation and digitization of production processes in China have enhanced efficiency, allowing companies like "惯爱" to maintain high-quality standards while keeping prices low [9]. Reconstructing Market Dynamics - The integration of online healthcare services with pharmaceutical distribution has transformed the erectile dysfunction drug market, shifting the focus from price competition to a comprehensive service model [10].