不少巴新国内人士对该条约持保留态度。英国《卫报》此前报道称，一些人认为其可能会影响巴新的独 立。该国反对党领袖道格拉斯·托穆里埃萨表示，巴布亚新几内亚"需要强有力的伙伴关系，但不能以牺 牲我们的宪法权威、公民的法律保护或独立决策为代价"。 巴新退役将领杰里·辛吉罗克认为该条约违反该国宪法，他表示，巴新有一个"重要的原则，在面对威胁 时不与任何国家结盟"，"因为我们的外交政策表明，我们是所有人的朋友，而不是任何人的敌人。中国 对巴布亚新几内亚来说不是威胁或敌人"。 【环球时报驻澳大利亚特约记者 白晓】澳大利亚6日与巴布亚新几内亚签署共同防御条约，在巴新国内 引发争议。据《澳大利亚金融评论报》9日报道，这份条约是澳大利亚政府为加强与太平洋邻国关系、 遏制中国在该地区影响力而采取的最新举措。7日，中国驻巴新大使杨晓光在该国媒体上撰文写道，岛 国有权同所有发展伙伴开展友好合作，不应成为大国博弈的竞技场，任何国家都不应将岛国当作自己 的"后院"，不应搞零和博弈、排他性安排。 据澳媒报道，澳巴共同防御条约规定，双方任何一个国家遭受武装攻击都将被视为"对彼此和平与安全 的威胁"。此外，根据该条约，两国将增加联合军事演习的次 ...

前言 9月11日起，欧盟接连对12家中国企业下手，钢铁关税一夜之间飙升到50%。墨西哥紧随其后，1000多个中国商品被加征重税。 短短一周，28个国家抱团对华施压，中国也不再只是"劝劝就好"，而是果断亮出"长剑"反击。 那么，特朗普这波"组团围剿"，真能达成他的算盘吗？中国又会如何破局？ 28国突然转向，一周内对华下狠手 布鲁塞尔时间9月19日，欧盟委员会会议室里气氛紧张。 与会官员手中的文件清单上，12家中国企业的名字赫然在列，罪名是"与俄罗斯进行石油交易"。 这份被外界称为"第19轮对俄制裁"的清单，实际上把矛头直指中国。制裁理由听起来冠冕堂皇，但明眼人都看得出，这是项庄舞剑，意在沛公。 更让人意外的还在后头。同一天，欧盟贸易专员马尔姆斯特伦在爱尔兰公开放话：20项针对中国的调查即将启动。 墨西哥呢？早在9月11日接到来自华盛顿的"友好提醒"后，态度来了个180度大转弯。对1000多个中国商品加征高达50%的关税，汽车、机械、钢铁无一幸 免。 这种整齐划一的动作，让人不得不怀疑背后有统一的指挥。 波兰更是来了个狠的，直接封锁中欧班列铁路线，一封就是5天。 这条连接中国与欧洲的生命线瞬间中断，无数货物滞留在 ...

人民财讯9月24日电，9月24日，在由证券时报与南方基金联合主办的2025中国证券业财富经纪高峰论坛 上，华源证券总经理助理、财富委副主任陈洁谈及如何完善财富管理生态时表示，销售渠道不应是销售 通道，而应创造专业价值，其核心在于扮演买方投顾角色，通过资产配置为客户获取超额收益，并成为 连接客户与管理人的信息桥梁。陈洁指出，构建完善的财富管理生态需坚持长期主义，避免零和博弈。 她观察到，客户并非不能接受收费，关键取决于机构能否为其创造价值、赚取超额收益。 ...

作者 / 吴 静 编辑 / 黄大路 设计 / 张 萌 这是莲花集团CEO冯擎峰在铃轩同学5期第四模块主题为全球化升级的课程开场中提出的困惑。 时间是2025年8月17日，地点在学员企业常州坤泰，一家从事新能源汽车先进动力总成、制动系统、转向系统以及智慧底盘系统零部件的综合性生产商 和车辆底盘系统技术方案提供商。 冯擎峰百思不得其解的原因在于，从全球消费市场来看，虽然汽车行业排在房地产、食品医疗、健康医疗、电子消费品和能源产业之外，位居第六，规 模达2.5万亿至3万亿美元，但汽车产业的产业链带动效应高达5倍，意味着其间接影响的市场规模超过10万亿美元。 面对这样一个体量庞大、拉动效应显著的行业，为什么投行却步了？经过分析，冯擎峰认为，这背后的本质是因为车市进入了"零和博弈"。 他说："大家都说新能源来了，颠覆性的东西来了，但是新能源颠覆了什么吗？没有。市场还是这么大的市场，它不增长了。不增长意味着什么？不增 长意味着零和博弈。" 零和博弈又意味着什么？当市场总量停止扩张，一个玩家的增长必然意味着另一个玩家的份额被侵蚀。零和博弈下的残酷本质，是行业竞争性质发生根 本改变——从"共同把蛋糕做大"的创新驱动，转变为" ...

但要中国重启采购并非易事，关键要看美方诚意几何。耐人寻味的是，就在9月17日，美联储宣布降息25个基点，这是2025年首次降息，对中国经济可谓 及时雨。当前中国内需疲软，经济下行压力凸显，急需政策支持。美联储此举为中国创造了更宽松的政策环境，不仅货币政策操作空间扩大，财政政策也 能更加积极。更重要的是，这为中国降准降息扫清障碍，有助于吸引国际资本，促进海外融资。 将近期事件串联起来，可以看到中国在中美博弈中已取得多重胜利。贸易战方面，中国不仅迫使美国多次延长关税休战期，还通过谈判缓解了TikTok禁令 危机。金融战场上，美联储率先降息昭示着中国又下一城。外交层面，中国在稀土、飞机、大豆等领域的精准反制，最终让特朗普主动寻求对话。这些胜 利充分展现了中国在国际舞台上的战略定力与智慧。 回望近年中美关系，每次摩擦皆由美方挑起，中国被迫应对。作为全球产业链最完整的制造业大国，同时坐拥庞大消费市场和关键资源需求，中国手握诸 多王牌。美方应深刻认识到，零和博弈只会两败俱伤。近期北京香山论坛上，中国再次倡导构建合作共赢的新型国际关系，这或许正是美国调整对华战略 的良机。至于特朗普此行会否成为中美关系的终章，主动权其实握在 ...

Group 1 - The core issue facing American soybean farmers is the significant loss of orders from China, with the American Soybean Association estimating a loss of 14 to 16 million tons, which is nearly two-thirds of the annual export volume to China [3] - The financial strain on farmers is exacerbated by rising production costs, with fertilizer prices increasing by 45% and fuel costs for agricultural machinery rising by 60%, while soybean prices have dropped nearly 30% compared to three years ago [3] - The trade war initiated during the Trump administration has led to a loss of price competitiveness for American soybeans in the Chinese market, resulting in China turning to Brazil for imports, with 12 million tons of new season soybeans shipped from Brazil to China in the first quarter of 2025 [3][4] Group 2 - The trade protection measures intended to benefit American farmers have instead resulted in significant financial burdens for them, as the tariffs have not impacted other countries but have hurt American soybean farmers [4] - The negative effects of the trade war are spreading beyond soybeans, with exports of corn and wheat to China also declining, leading many farmers to consider abandoning farming altogether [5] - The situation highlights the importance of cooperation in trade, as the current crisis demonstrates that protectionist measures do not necessarily protect domestic interests [5]

Core Viewpoint - The competition for rare earth resources has intensified, becoming a focal point in international geopolitical dynamics, with the U.S. aiming to reclaim its strategic dominance in this sector [1][3]. Group 1: Historical Context and Current Challenges - The discovery of rare earth elements dates back to 1794, with significant contributions from European scientists, while the U.S. synthesized its last rare earth element in 1947 [3]. - The U.S. once dominated the global rare earth supply in the 1980s and 1990s, contributing 70% of global production at its peak, but has since seen a decline due to environmental regulations and rising costs [3][5]. - As of 2025, the U.S. has become increasingly dependent on rare earth imports, with over 70% reliance on China, and lacks critical technological capabilities in the industry [5][6]. Group 2: Competitive Landscape - The key to success in the rare earth industry lies not just in resource availability but in having a complete industrial chain, which China has established with significant advantages in production costs and technology [6][8]. - China’s production cost for 1 ton of neodymium oxide is approximately $8,000, compared to over $24,000 for U.S. and Australian companies, highlighting China's competitive edge [6]. - Despite substantial investments from the U.S. and Japan, significant technological gaps remain in critical areas of rare earth processing [6][10]. Group 3: Policy Responses and International Dynamics - In response to China's dominance, Western countries, particularly the U.S., are implementing trade protection measures, including a proposed 200% tariff on Chinese rare earth permanent magnets [8][10]. - The U.S. has increased its fiscal support for domestic rare earth projects to $7.5 billion and is offering tax incentives, but faces structural challenges such as lengthy approval processes and high labor costs [8][12]. - The global rare earth supply chain is unlikely to see fundamental changes in the next 5-8 years, as highlighted by various economic assessments [8][12]. Group 4: Future Trends and Cooperation - The competition for rare earths is evolving into a broader contest of high-end manufacturing and technological innovation, particularly in strategic industries like electric vehicles and renewable energy [13][15]. - There is a growing consensus among international stakeholders to pursue collaborative approaches rather than confrontational strategies, as evidenced by the launch of a global rare earth sustainable development initiative involving multiple countries [17].

Group 1 - The concept of geoeconomics has evolved from an academic idea to a significant topic in global economic and policy discussions, highlighting the shift from cooperation to competition in the international economic order [6] - Geoeconomic competition emphasizes the importance of economies of scale in international trade and global supply chains, with technology becoming a core area of competition among nations [6] - The zero-sum nature of geoeconomic competition suggests that one party's gain often comes at the expense of another, increasing the significance of absolute economic size [6] Group 2 - Since the implementation of "reciprocal tariffs" in early April, concerns regarding U.S. inflation, stock market prospects, and Federal Reserve interest rate cuts have persisted, yet the U.S. stock market continues to reach new highs [8] - The mainstream view has misjudged the impact of tariffs on U.S. stocks and inflation by focusing too much on the end effects of tariffs rather than the transmission process and the allocation of tariff revenues [8] Group 3 - The upward trend since September 2024 continues, with the U.S. Federal Reserve in a rate-cutting cycle and increasing downward pressure on U.S. demand [10] - The current turnover rate of over 5% indicates potential short-term volatility, but historical trends suggest that such periods do not typically alter mid-term market performance [10] Group 4 - Rapid increases in trading volume often indicate a quick rise in investor risk appetite, leading to short-term adjustments without changing the mid-term trend [12] - Historical data shows that after adjustment periods, indices tend to exhibit a pattern of oscillating upward, surpassing previous highs [12] Group 5 - In the first half of 2025, A-share companies reported a 2.8% year-on-year increase in profits, with the non-financial sector seeing a slight 1.5% growth [14] - Key sectors such as TMT, non-ferrous metals, and certain midstream areas performed well, contributing positively to index performance [14] - Financial metrics indicate stable performance, with improvements in cash flow and capital expenditure, while the overall profitability still requires enhancement [14]

Core Viewpoint - The article emphasizes the importance of prioritizing the people's interests and welfare, highlighting that true progress and victory come from serving the people and working towards a better future for all [1]. Group 1 - The historical context of cooperation between the Chinese people and the global community is presented, showcasing how collective efforts led to significant victories against oppression [1]. - The notion that the people's desires for a better life are universal and cannot be hindered by conflicts or divisions is reinforced [1]. - The article advocates for a people-centered approach in governance and international relations, suggesting that those who align with the people's needs will ultimately succeed [1]. Group 2 - The text calls for a rejection of zero-sum games in favor of collaborative progress, promoting the idea of shared benefits and mutual understanding among nations [1]. - It highlights the role of the Chinese Communist Party in pursuing justice and human advancement, positioning it as a force for good in the world [1]. - The concept of "common destiny" is introduced, suggesting that humanity can achieve a brighter future through cooperation and solidarity [1].

Core Viewpoint - The stock market is not a strict zero-sum game; it is fundamentally linked to economic growth, allowing for potential mutual benefits among investors over the long term [4]. Group 1: Types of Stock Price Increases - Stock price increases can be categorized into two main types: 1. Companies with strong profitability and consistent performance, leading to genuine value appreciation [5]. 2. Companies lacking competitive strength but experiencing price surges due to market speculation, often resulting in losses for latecomers [9][12]. Group 2: Real-World Examples of Stock Price Increases - **Apple (AAPL)**: Over the past two decades, Apple's stock price has increased significantly due to its strong cash flow from products like iPhone and services, benefiting long-term shareholders [7]. - **GameStop (GME)**: In early 2021, GameStop's stock price surged from under $20 to over $400 due to retail investor speculation, leading to significant losses for those who bought at peak prices [10][12]. Group 3: Other Factors Influencing Stock Price Increases - **Industry Trends**: Some stocks rise due to rapid industry growth and favorable market positioning [14]. - **Policy or Macro Environment**: Stock price increases can also result from favorable policies or macroeconomic trends [15]. - **Future Growth Expectations**: Companies with average short-term performance may see stock price increases based on market expectations of future potential [17]. - **Structural Changes or Innovations**: Companies undergoing strategic changes or innovations can experience stock price increases [18]. - **Mergers and Acquisitions**: Corporate actions like mergers or asset sales can unlock value and drive stock price increases [22][25]. Group 4: Conclusion on Market Dynamics - The continuous rise of the U.S. stock market does not guarantee profits for all investors; long-term gains are typically realized by those who invest in quality companies and hold their positions, while those chasing short-term trends may incur losses [24].