Group 1 - The article discusses the potential economic strategies employed by Trump, suggesting that actions like tariff increases and mass layoffs could lead to a recession, which may lower U.S. Treasury yields and save up to $400 billion in interest payments for every 100 basis points reduction in rates [1] - Global debt levels have reached $313 trillion, which is 11.5 times the U.S. GDP, highlighting the urgent need for countries to address debt issues [2] - The Chinese government has proposed a debt resolution plan involving a 12 trillion yuan strategy to manage local government debt, indicating a proactive approach to debt management [2] Group 2 - The article outlines China's previous debt resolution cycles, noting significant market impacts, such as the 2015 debt swap that led to a peak in the Shanghai Composite Index and the strong performance of sectors like food and beverage during subsequent cycles [3] - It emphasizes that understanding the underlying logic of debt resolution is crucial for investors to capitalize on structural opportunities in the equity market [3][4] - The upcoming course led by Dr. Liu Yu aims to clarify the core logic of the current debt resolution wave and its implications for investment strategies [4][8] Group 3 - Dr. Liu Yu, a prominent economist, is recognized for her deep understanding of debt issues and has been invited to share insights on the impact of debt resolution on capital markets [5][6] - The course will cover global debt experiences, particularly Japan's "lost three decades," and how these lessons can inform China's debt resolution strategies [13][14] - Participants will gain insights into the current state of China's local and municipal debts, effective resolution methods, and their economic impacts [14][20]