Core Viewpoint - The resilience and elasticity of the global economy are stronger than expected, with China playing a crucial role in economic globalization [3][4][5]. Economic Growth Outlook - Initial predictions indicated a decline in global economic growth by 0.5 percentage points, from 3.3% to approximately 2.8%, but the actual decline has been less severe [9]. - Global trade growth was expected to fall below GDP growth due to U.S. tariff policies, with a projected drop of 1.8 percentage points; however, trade data from January to October shows a growth rate of 3.6%, surpassing last year's 3.5% [9][10]. - Inflation expectations were for an average price increase of 0.2% to 0.3%, but prices have instead decreased by 0.1 percentage points, indicating strong resilience in global supply chains [4][9]. Trade Dynamics - Despite a significant drop in trade with the U.S. (estimated at around 20%), China's overall trade with the world has increased by 6.2%, with the share of global trade rising from 12.8% in 2020 to approximately 15% this year [10][11]. - The growth in bilateral trade with ASEAN, Africa, and Latin America has been exceptional, showcasing China's ability to create new opportunities in global supply chains and technology environments [10]. Fiscal and Monetary Policies - Many countries have adopted proactive fiscal and monetary policies to counteract U.S. trade policies, with global public debt reaching 95% of GDP, an increase of 2.3 percentage points from previous years [5][10]. - Germany's trade deficit has reached 300 million euros, exceeding the EU's 3% limit, highlighting the widespread fiscal challenges faced globally [10]. Technological Innovation - Significant growth in AI investment, particularly in the U.S., is noted, with a projected increase of nearly 90% this year following an 18% increase last year [5][10]. - Temporary factors such as trade and investment front-loading and inventory management strategies may introduce certain risks [10]. Future Economic Conditions - Key factors for future economic development include potential new proposals under the Trump 2.0 tariff policy, the sustained competitive advantage from China's technological innovations, and whether new technologies can translate into short-term economic growth [11][12]. - The ability of countries to implement structural reforms and effectively address fiscal deficits in a disordered environment is also critical for future economic trends [12].