Group 1 - The upcoming Shanghai Cooperation Organization (SCO) summit in Tianjin will be the largest since its establishment, with over 20 foreign leaders and 10 international organization heads attending [1] - The SCO has evolved from 6 founding member countries to 26 countries across Asia, Europe, and Africa, reflecting its growing appeal and cohesion in the current era [1][2] - The summit aims to promote peace, development, and cooperation among member states, focusing on strategic alignment, security, economic, and cultural collaboration [1] Group 2 - The "Shanghai Spirit" emphasizes mutual trust, mutual benefit, equality, consultation, respect for diverse civilizations, and common development, which are increasingly relevant in today's context [2] - The concept of "Shanghai Cooperation Organization+" signifies a trend towards greater unity and collaboration among the Global South, aiming for a more just and reasonable global governance system [2][3] - The SCO summit represents a new starting point and model for international cooperation, responding to global challenges and promoting the "Shanghai Spirit" [3]

Group 1 - Moody's downgraded the U.S. sovereign credit rating from Aaa to Aa1, changing the outlook from "negative" to "stable" [1] - The U.S. federal government debt has exceeded $36 trillion, with $6.5 trillion in bonds maturing in June alone [1] - The fiscal deficit for the first half of FY2025 has surpassed $1.3 trillion, marking the second-highest half-year deficit in history [1] Group 2 - The downgrade has led to a spike in bond yields, with 30-year Treasury yields exceeding 5% and 10-year yields rising above 4.5% [1] - The increase in U.S. borrowing costs is expected to raise global lending rates and exacerbate debt risks in emerging markets [2] - The downgrade reflects long-standing imbalances in U.S. economic governance, with political parties engaging in short-term fiscal policies [3] Group 3 - The U.S. government's reliance on tax cuts and increased spending has led to a projected $4 trillion increase in federal deficits over the next decade if the 2017 Tax Cuts and Jobs Act is extended [3] - The U.S. GDP contracted by 0.3% on a year-over-year basis in Q1, marking the worst quarterly performance since 2022 [3] - The downgrade serves as a reflection of the urgent need for reform in the global governance system, emphasizing the necessity for a multi-polar currency coordination mechanism [4]

Core Viewpoint - The relationship between China and Russia has matured over 75 years, showcasing stability, resilience, and a strong foundation for future cooperation in various fields [1][2][3] Political Cooperation - High levels of mutual trust have been established politically, with strategic communication between the leaders of both nations guiding the relationship through global changes [1] - Both countries are committed to maintaining global peace and stability, exemplifying a new type of major power relationship [1][2] Economic Cooperation - In 2024, the trade volume between China and Russia reached $244.8 billion, marking a 1.9% increase, with China maintaining its position as Russia's largest trading partner for 15 consecutive years [2] - Russia is the largest source of crude oil and natural gas imports for China, while China is the largest source of machinery and automotive imports for Russia [2] - The completion of the East Route Natural Gas Pipeline and the use of local currencies for over 95% of bilateral trade highlight the strong economic ties [2] Cultural Exchange - Numerous cultural exchange activities have been conducted under the "China-Russia Cultural Year," enhancing mutual understanding and appreciation between the two nations [2] - The number of Chinese students in Russia exceeds 60,000, and the total number of tourists between the two countries surpasses 3 million, indicating a strong social foundation for bilateral relations [2] Strategic Outlook - Both countries view their relationship as a long-term strategic choice, unaffected by temporary external factors, and are committed to deepening their partnership [3]