美国总统唐纳德・特朗普从不放过任何抨击前任经济政策的机会，直言前总统乔・拜凳酿成了通胀危 机。然而，特朗普如今提出的部分经济提案，论调却与拜凳愈发相似。 拜凳就任之初，美国失业率仍居高不下，但整体经济正从疫情中快速反弹，增速表现强劲。就在特朗普 签署上一轮经济刺激法案、美联储为提振经济将利率降至零利率的一年后，拜凳与民主党掌控的国会又 推出了近 2 万亿美元的经济刺激计划，其中包括向纳税人发放 1400 美元的直接纾困支票。 民主党彼时基本无视了批评者的担忧 —— 大规模刺激措施可能引发物价飙升。尽管这并非通胀的唯一 诱因，但批评者的预警最终成真：2022 年美国通胀率创下四十年新高。 如今特朗普面临的经济形势，与拜凳执政初期截然不同。民生可负担能力已成为当下头号难题，利率水 平也处于高位。但拜凳执政初期与当前特朗普执政期的经济状况仍存在相似之处，包括就业市场疲软， 而整体经济增长势头强劲。美国商务部周二发布的数据显示，今年夏季美国国内生产总值年化增长率达 4.3%，创两年来最快增速。 如此背景下，特朗普计划通过经济刺激手段（包括发放 2000 美元纾困支票）为本就强劲的经济再添动 力，同时还再度呼吁降息，这 ...

Core Viewpoint - The lithium industry is subject to significant price fluctuations, and companies must adhere to supply and demand principles rather than engage in speculative practices. It is essential for domestic companies to adapt to local markets when expanding internationally, rather than simply replicating domestic models [2]. Group 1 - The lithium market has experienced two major price cycles over the past thirty years, highlighting the importance of understanding industry dynamics [2]. - Companies should focus on the essence of business rather than being influenced by short-term price movements, which can lead to "resource gambling" [2]. - Domestic competition in the lithium sector is intense, but companies must integrate into local markets when operating abroad to succeed [2].

Core Viewpoint - Ganfeng Lithium is transitioning from a "resource-based" company to a "technology-based" company, focusing on cost reduction, green manufacturing, solid-state battery development, and global operations [4][5]. Group 1: Market Dynamics - Lithium prices are highly sensitive to market emotions, with recent fluctuations driven by supply constraints and production resumption [6][10]. - In 2022, global lithium demand was approximately 800,000 tons LCE, leading to a peak price of 600,000 yuan per ton due to resource anxiety and stockpiling [7]. - By 2024, demand is expected to expand to 150,000 tons, with prices dropping to the range of 50,000 to 80,000 yuan per ton as supply increases [8][9]. - The market is entering a weak balance state by 2025, with prices rationally returning as global lithium resources are developed [9][10]. Group 2: Strategic Reflections - The high price of 600,000 yuan per ton taught the industry valuable lessons about the dangers of overvaluation based on inflated prices [11]. - Ganfeng emphasizes the importance of returning to the essence of business and controlling costs as a lifeline for the company [12]. Group 3: Ganfeng's Response Strategy - Ganfeng is focusing on low-cost core resources and divesting inefficient assets to enhance overall risk resilience [13]. - The company is optimizing its asset portfolio by developing competitive resources like the Mt Marion mine in Australia, while halting or slowing down high-cost projects [14]. - Technological innovation is seen as a key driver for cost reduction, with Ganfeng implementing advanced extraction methods to lower costs significantly [15]. - The strategy has shifted from simple international procurement to deep globalization, integrating local operations with advanced Chinese technologies [16]. Group 4: Future Growth and Strategic Layout - Ganfeng is advancing its solid-state battery development, having invested over hundreds of millions since 2016, with applications already in low-altitude aircraft [17]. - The company is transitioning from merely selling batteries to operating power stations, with its overseas energy storage division already managing several GWh projects [17]. - Future organizational adjustments aim to ensure that battery business will account for over half of the company's operations, reflecting strategic ambitions for growth [17].