古特雷斯呼吁G20带头消除贸易壁垒 中新社约翰内斯堡11月21日电 (记者 孙翔)联合国秘书长古特雷斯21日在约翰内斯堡举行媒体吹风会， 就全球治理不公和经济不平等问题发出了呼吁，"各国必须构筑贸易之桥，而不是贸易之墙"、"G20应 带头消除贸易壁垒"。 古特雷斯指出，当前的国际金融体系既不公平也无效，因为它"由发达国家设计并根据其经济需求调 整"。他表示，现在是打造一个以解决发展中国家挑战为核心的真正全球金融体系的时候。 古特雷斯将非洲在当前全球治理中的困境描述为"殖民主义的双重受害者"："首先是几个世纪的掠夺， 其次是国际机构在建立时，非洲国家仍处于殖民统治之下，其声音缺席谈判桌。" 古特雷斯呼吁G20成员发挥关键作用，修复这一历史性不公并推动改革，使全球经济治理更加包容、具 代表性、公平且有效。 古特雷斯警告说，不平等已成为"社会中的癌症"，它集中权力，并"削弱了公众对民主的信任"。他进一 步指出，许多发展中国家——尤其是非洲国家——被长期锁定在全球价值链底端，或被排除在贸易机会 之外。 他向G20发出呼吁："各国必须构筑贸易之桥，而不是贸易之墙"，"G20应带头消除贸易壁垒，为最贫困 国家提供真正的自 ...

Core Insights - Nomura emphasizes China's focus on resilient, stable, and inclusive economic growth from 2026 to 2030, driven by significant investments and industrial policies, particularly in semiconductors and artificial intelligence [1][5] - The core drivers for the A-share market's future growth are policy support, liquidity, and industrial upgrades, with AI and high-value exports identified as key themes for the upcoming year [4][1] Group 1: Global Economic Resilience - Despite rising tariffs, geopolitical tensions, and fiscal pressures, the global economy shows significant resilience, supported by the AI revolution, flexible trade adjustments, and moderate monetary and fiscal policies [2] - Economic inequality is becoming more pronounced, with low-income families and small businesses struggling, posing challenges for policymakers to maintain global economic stability [2] Group 2: Asian Economic Outlook - The technology sector in Asia (excluding Japan) is expected to perform well, driven by strong demand for AI and a supercycle in storage chips, while non-tech sectors face challenges due to limited spillover effects from AI and increased tariffs on labor-intensive industries [3] - The region's solid economic fundamentals and new growth drivers, such as supply chain shifts and increased AI investment, position India, the Philippines, and Malaysia as some of the fastest-growing economies in the next decade [3] Group 3: A-share Market Dynamics - A-share valuations have expanded over the past year but remain reasonable when considering the equity risk premium in a declining risk-free rate environment [4] - The "14th Five-Year Plan" emphasizes long-term productivity upgrades and technological transformation, which will catalyze structural market trends, although improvements in earnings fundamentals are still needed [4][7] Group 4: AI and Technology Sector Developments - The trend towards a self-sufficient AI supply chain in China is becoming more evident, with significant investments in AI infrastructure and a focus on developing large language models and generative AI applications [8] - The competitive landscape in the instant retail sector is expected to stabilize, potentially alleviating losses for companies expanding in this area [8] Group 5: Entertainment Sector Insights - The online entertainment sector, particularly online gaming and music services, is expected to remain resilient, while long-form video content may continue to lag due to shifts in consumer preferences towards short videos [9]

Core Insights - Gary Stevenson, a former trader at Citigroup, experienced rapid success in the financial industry but ultimately chose to leave it behind to pursue a deeper understanding of economic inequality and systemic issues [3][41]. Group 1: Early Life and Career - Gary Stevenson grew up in East London, facing poverty and challenges, which shaped his ambition to succeed in finance [1][6]. - He joined Citigroup in 2008 as the youngest trader in London and quickly became one of the top traders globally, managing thousands of billions in transactions [2][12]. Group 2: Trading Success and Strategies - During the 2008 financial crisis, Stevenson capitalized on the popularity of foreign exchange swaps, leading to significant profits for his department [15][19]. - He earned $12 million in his first year, a record for a new trader at Citigroup, due to favorable market conditions and a unique trading strategy [18][19]. - By 2011, he became one of the highest-earning traders, making $35 million for Citigroup in a single year [31]. Group 3: Psychological Impact and Departure - Despite financial success, Stevenson faced psychological challenges, feeling increasingly disconnected from his work and the growing wealth inequality around him [32][35]. - He ultimately decided to leave Citigroup, feeling that the financial system was rigged against the less fortunate and wanting to advocate for change [39][41]. Group 4: Post-Career and Advocacy - After leaving Citigroup, Stevenson pursued a master's degree in economics at Oxford, focusing on systemic economic issues and wealth distribution [41]. - He established a YouTube channel and wrote articles to raise awareness about economic mechanisms and advocate for reforms in the financial system [44].

Core Insights - Gary Stevenson, a former trader at Citigroup, shares his journey from a struggling youth in East London to becoming one of the top traders in the world, ultimately leaving the finance industry to pursue a deeper understanding of economic inequality and systemic issues [1][3][40]. Group 1: Early Life and Career - Gary Stevenson grew up in a challenging environment, selling candy at school and engaging in small trades, which laid the foundation for his future in finance [3][5]. - He joined Citigroup in 2008 as the youngest trader in London, quickly rising to manage trades worth hundreds of billions [3][11]. - Despite his success, he struggled with insomnia and the pressures of the trading environment, leading him to write a book titled "The Trading Game" [3][11]. Group 2: Trading Success and Strategies - Stevenson won a trading competition at Citigroup, which led to an internship, showcasing his ability to manipulate market sentiment [7][9]. - During the 2008 financial crisis, he capitalized on the popularity of foreign exchange swaps, earning significant profits for Citigroup [11][13]. - By the end of 2009, he became the first trader to earn $12 million in his first year, driven by favorable market conditions and a unique trading strategy [15][17]. Group 3: Market Insights and Economic Understanding - Stevenson recognized that successful trading relies on being right when others are wrong, emphasizing the importance of understanding market psychology [18][21]. - He observed that the economic models used by many traders were disconnected from reality, leading to widespread misjudgments in the market [23][24]. - His insights into economic inequality and systemic issues led him to bet against the prevailing market consensus, resulting in substantial profits during crises [26][29]. Group 4: Departure from Citigroup and New Ventures - After years of success, Stevenson faced mental health challenges and dissatisfaction with the trading environment, prompting his decision to leave Citigroup [31][34]. - Following his departure, he pursued a master's degree in economics at Oxford, focusing on the structural issues he encountered in finance [40]. - He established a YouTube channel and wrote articles to raise awareness about economic mechanisms and advocate for systemic change [40][43].

Core Viewpoint - The article narrates the journey of Gary Stevenson, who transitioned from a challenging childhood to becoming a successful trader at Citigroup, only to leave the financial industry to expose systemic economic inequalities and advocate for reform through his book "The Trading Game" [7][63]. Group 1: Early Life and Career - Gary Stevenson grew up in a poor environment in East London, wearing hand-me-downs and dreaming of a better life [2][13]. - He began selling candy at school and engaged in minor trades, but these were not his true aspirations [3][4]. - In 2008, he joined Citigroup as the youngest trader in London, quickly rising to manage trading volumes in the hundreds of billions of dollars [4][20]. Group 2: Trading Success and Challenges - Despite his success, Stevenson faced insomnia and stress from the high-stakes trading environment [6][5]. - He participated in a trading game that tested his ability to maintain conviction under pressure, ultimately winning an internship at Citigroup [15][19]. - During the 2008 financial crisis, he capitalized on the demand for foreign exchange swaps, leading to significant profits for himself and his team [25][26]. Group 3: Insights on Trading and Economics - Stevenson learned that successful trading relies on recognizing when others are wrong, rather than merely being right oneself [34][40]. - He observed that economic models often failed to reflect reality, particularly regarding wealth distribution and systemic inequalities [41][63]. - His trading strategies often involved betting against prevailing market sentiments, which proved lucrative during crises [42][44]. Group 4: Departure from Citigroup - Over time, Stevenson became disillusioned with the financial industry, feeling increasingly detached from his roots and the struggles of the less fortunate [51][53]. - After a series of personal and professional challenges, he decided to leave Citigroup, marking a significant turning point in his career [59][63]. - Following his departure, he pursued further education at Oxford and began advocating for economic reform through various platforms [63][64].

Core Insights - The article narrates the journey of Gary Stevenson, who rose from humble beginnings to become a successful trader at Citigroup, only to leave the financial industry to pursue a deeper understanding of economic inequality and systemic issues [2][4][50]. Group 1: Early Life and Career - Gary Stevenson grew up in East London, facing poverty and challenges, which shaped his aspirations and drive for success [1][10]. - He entered the London School of Economics, distinguishing himself from his peers due to his background and experiences [9][10]. - In 2008, he joined Citigroup as the youngest trader in London, quickly becoming one of the top traders globally, managing thousands of billions in transactions [3][4][20]. Group 2: Trading Success and Challenges - Despite his success, Stevenson experienced sleepless nights and a sense of emptiness, leading him to question the true value of his achievements [5][6]. - He won a trading competition that secured him an internship at Citigroup, showcasing his unique approach to trading and market psychology [12][15]. - During the 2008 financial crisis, he capitalized on the demand for foreign exchange swaps, earning significant profits and establishing himself as a top trader [20][24][39]. Group 3: Insights on Economic Inequality - Stevenson observed that many traders lacked real-world understanding of economic issues, leading to poor decision-making during market downturns [27][32]. - He recognized the systemic nature of economic inequality, noting that wealth was increasingly concentrated among the elite while the middle class was being hollowed out [32][34]. - His experiences led him to believe that true change in the economic system required public awareness and action against entrenched interests [50][52]. Group 4: Departure from Finance - Over time, Stevenson became disillusioned with the repetitive nature of trading and the growing wealth gap, prompting him to leave Citigroup [41][46]. - After a challenging exit process, he pursued further education at Oxford University to study economics more deeply [49][50]. - He transitioned from being a player in the financial game to a critic of the system, advocating for reforms and raising awareness about economic disparities [50][52].

Core Viewpoint - Richard Wolff emphasizes the unique advantages of China's socialist market economy compared to the U.S. economic system, highlighting the need for a better understanding of China's development among Americans [1][2][5]. Group 1: Economic Comparison - Wolff notes that China's high-speed rail system is a significant achievement, showcasing China's investment in infrastructure, which contrasts with the U.S. perception of its own capabilities [2][11]. - The GDP of the G7 countries accounts for approximately 28% of the world, while China's GDP, along with that of BRICS nations, represents about 35%, indicating a shift in global economic power [7]. Group 2: U.S.-China Relations - Wolff points out that while some in the U.S. seek to learn from China's development, others view China as a threat, leading to a polarized perspective on U.S.-China relations [3][4]. - The response of China to U.S. tariffs under the current administration is more pronounced than in previous administrations, indicating China's willingness to counteract perceived threats to its development [2][6]. Group 3: Economic Inequality - Wolff discusses the severe economic inequality in the U.S., where a small number of individuals hold vast wealth while many struggle to meet basic needs, attributing this to the corporate governance structure that prioritizes profits over employee welfare [9][10]. - The U.S. faces a crisis where essential social services are neglected, contrasting with China's approach to public investment in infrastructure and education [11].

Group 1 - The book "The Declaration of Companion Species" by Donna Haraway explores the complex relationships between humans, animals, and nature, highlighting the increasing tensions in these interactions [3][4] - The book "The Family That Was Parasitized: The Truth Behind the Mysterious Deaths in Amagasaki" by Kazuhiro Ono provides an investigative perspective on the Akutagawa case, emphasizing the long-term nature of domestic abuse and the societal neglect of such issues [6][7][8] - "Unsustainable Inequality: Towards Dual Justice for Society and Environment" by Lucas Chancel discusses the critical role of economic inequality in social injustice and environmental unsustainability, presenting data on the decline of public wealth in wealthy nations [11][12][13] Group 2 - "The Four Books of Chen Yinke" by Zhang Qiuhui offers a detailed exploration of the life and thoughts of the scholar Chen Yinke, providing insights into the intellectual history of modern Chinese intellectuals [15][16][17] - "Revisiting the May Fourth New Culture: Culture and Society" edited by Wang Feng and others compiles significant research on the May Fourth Movement, reflecting on its ongoing relevance and impact on contemporary thought [19][20][21] - "The Narrative Discourse of Empire: National Identity Formation and U.S. Policy during the Cold War" by Wang Lixin examines the evolving concept of national identity in the U.S. and its influence on foreign policy decisions throughout the 20th century [23][24][25] Group 3 - "The Dictionary of Light and Darkness" by Simon Strang discusses the historical context of Jewish persecution during WWII, intertwining personal narratives with broader historical themes [26][27][28] - "The Sea: The Plays of Wajdi Mouawad" includes two plays that explore themes of family and loss against the backdrop of war, reflecting the author's Lebanese heritage [32][33] - "The Comprehensive Study of Han Dynasty Image Stones" by Xin Lixiang provides an in-depth analysis of Han image stones, their artistic techniques, and their cultural significance within the context of Han burial practices [35][36][37] Group 4 - "The Black Screen: Gangsters, Hollywood, and American Society" by Li Yang connects popular gangster films to the historical narrative of American organized crime, offering insights into societal values and human complexity [39][40] - "The Art of Mechanical Reproduction: Selected Works of Walter Benjamin" compiles key essays that discuss the impact of mass reproduction on art and culture, emphasizing the changing nature of audience engagement [41][44] - "Sports and Cultural Anthropology" by Gong Fang analyzes the relationship between sports and various social issues, highlighting how sports reflect cultural dynamics and societal structures [47][48]

Core Viewpoint - The discussion highlights the increasing wealth inequality in the U.S., the inefficiency of government, and the stagnation of technological progress, suggesting that these issues are interconnected and may lead to significant societal consequences [2][3][6]. Summary by Sections Wealth Inequality - The disparity between the wealth of the top 1% and the bottom 99% has been growing at an unprecedented rate, potentially surpassing levels seen in the early 20th century [2][3]. - The right-wing has largely ignored this issue, either denying its existence or deeming it unimportant, which is seen as a significant blind spot [2][3]. Government Inefficiency - Government efficiency has deteriorated, with rising expenditures failing to yield proportional improvements in governance [3][4]. - Examples include the prolonged construction times for infrastructure projects compared to historical benchmarks, indicating a decline in operational effectiveness [3][4]. Technological Stagnation - There is a concern that technological progress has slowed since the late 1960s, with significant innovations becoming rare outside of specific sectors like computing and finance [6][7]. - The stagnation in technological advancement is linked to broader economic growth issues, leading to political cynicism and a zero-sum perception of economic competition [7][10]. Globalization's Impact - Globalization has created a "winner-takes-all" environment, adversely affecting the middle class and white-collar workers, particularly through labor arbitrage with countries like China [12][20]. - The benefits of globalization have not been evenly distributed, leading to increased inequality and social unrest [12][20]. Education and Innovation - The education system is criticized for perpetuating a bubble, with many students accumulating debt without securing corresponding employment opportunities [27][29]. - There is a call for a reevaluation of educational investments and a shift towards recognizing non-college career paths as viable options [27][29]. Future Considerations - The discussion raises philosophical questions about the role of government in planning for the future, particularly in the context of technological innovation and economic policy [15][17]. - The potential for long-term societal issues stemming from demographic changes and technological stagnation is emphasized, suggesting a need for proactive policy adjustments [23][24].