今晚，全球资产集体上涨！ 记者丨金珊 北京时间2月18日晚，欧洲股市高开高走，泛欧斯托克600指数涨0.93%，创历史新高，英国富时指数涨 1.05%，续刷历史新高；法国CAC指数涨0.55%，德国DAX指数涨0.83%，西班牙IBEX35指数涨近 1.4%，逼近历史新高。 美股方面，美国三大股指期货齐涨，纳指期货涨0.53%，标普500指数期货涨0.41%，道指期货涨 0.26%。 美股部分大型科技股盘前走强，英伟达涨近2%。消息面上，据智通财经报道，Meta加码英伟达，未来 数年部署数百万颗芯片，首次采用Grace CPU。此外，亚马逊涨1.4%，特斯拉涨超0.4%，微软涨近 0.4%。 编辑丨江佩霞 国际金属全线走强，现货黄金涨超1%，报4929美元/盎司，现货白银涨2.6%，报75.4美元/盎司，LME伦 铜涨幅扩大至1%。 消息面上，关于美联储降息的预期又有变化。据证券时报报道，北京时间2月18日凌晨，美国旧金山联 储主席玛丽·戴利表示，达到中性利率之前，美联储大约还有75个基点的降息空间；美联储理事迈克尔· 巴尔表示，前景暗示美联储将在一段时间内维持利率不变；美国芝加哥联储主席古尔斯比则表示，如果 ...

从2022年开始，国内各地房价进入到了下跌周期。先是像郑州、石家庄等二三线城市，之后像上海、深圳等一线城市也加入进来。截止目前，全国平均房价 跌幅超过30%，而像廊坊、涿州等环京楼市的跌幅更是超过了60%。而在进入到2026年3月之后，国内房价还将会继续下跌，只是之前房价下跌较快的二三 线城市跌幅或将会放缓，而像一线城市的中心区域的房价或将会出现补跌行情。 在进入到2026年之后，国内一些与老百姓生活休戚相关的商品价格都出现了不同程度的上涨。比如，食用油、蔬菜、生活用纸、洗漱用品等。为此，有不少 居民表示：过去逛超市只要200多元就可以了，而现在逛超市至少要3-500元，生活成本明显上升了。对此，有业内人士提醒：从今年3月份开始，中国或将 迎来四大降价潮，除了房价以外，这三类也要降价了。 第一，国内房价还会继续降价 导致未来房价还要继续下跌的原因主要有三个：①各地房价泡沫仍旧存在。现在二三线城市的房价收入比是20-25，一线城市的房价收入比是40。这意味 着，老百姓不吃不喝几十年才能购买一套房子。这样的房价泡沫早晚会逐步回到合理的价格区间。②现在老百姓收入增长放缓，无力支撑起这样的高房价； ③国内各地房价连跌 ...

最被看好的越南，这些年确实接了不少来自中国的订单，苹果、三星都在那建了工厂，出口额也一路上涨。可美国人慢慢发现，越南根本撑不起大规模工业 化的架子。这个国家太小，能源和土地都不够用，一到枯水期就限电，2023年一次电力短缺，就让好几家外资工厂停摆，芯片交付延误了好几周；更关键的 是，越南没有完整的产业链，生产手机、家电的核心零部件，比如芯片、屏幕、电池，还是得从中国进口，说白了就是个"组装厂"，根本算不上真正的工业 化国家。 刚开始，美国上下都信心满满，觉得只要加征关税、施压企业，制造业转移就是顺理成章的事。毕竟在他们眼里，中国能成为"世界工厂"，靠的不过是廉价 劳动力，只要把订单转移到其他劳动力更便宜的国家，就能轻松复制第二个、第三个"中国"。可现实狠狠打了他们的脸，那些被寄予厚望的"接盘国"，一个 个都掉了链子。 再看印度，有着14亿人口，按理说劳动力资源比中国还充足，美国企业也扎堆去那投资，富士康就花了大价钱在印度建工厂。可实际情况却是，工厂建了好 几年，产能始终上不去，土地征用要扯皮、工会纠纷不断，工人的纪律性和协作能力也跟不上，很多精密零部件根本生产不出来。富士康为了保证生产，只 能靠柴油发电机供电 ...

Core Viewpoint - The German metalworkers' union (IG Metall) accuses Tesla of creating a poor working environment at its factory near Berlin, leading to escalating tensions ahead of a contentious factory committee election [1][3]. Group 1: Union Allegations - IG Metall claims that Tesla is overworking employees and pressuring sick workers [1][3]. - The union has filed for an injunction in labor court due to Tesla's false accusations against a union member regarding recording factory committee meetings [1][3]. - The union is calling for a defamation investigation against a local Tesla manager [1][3]. Group 2: Upcoming Election and Union Goals - Tensions are rising as the factory committee election approaches, with IG Metall aiming to secure a majority to implement wage agreements in Germany [1][3]. - Tesla's CEO Elon Musk has expressed hostility towards unions and collective bargaining agreements [1][3]. - Labor representatives typically hold half of the seats on supervisory boards in large German companies, allowing them to influence strategic decisions [1][3]. Group 3: Industry Context - The election coincides with a tense situation in the European automotive industry, where companies are shifting R&D and production to lower-cost countries amid lower market demand compared to pre-pandemic levels [2][5]. - The German automotive sector has seen tens of thousands of job cuts in recent years, raising questions about the union's relevance in a rapidly changing industry [2][5]. - Tesla's situation is particularly challenging, as its European sales have significantly declined despite the expanding electric vehicle market, with new car registrations in Germany projected to drop by 48% by 2025 [2][5]. - Employees at the Grünheide factory have long complained about unfair working conditions [2][5]. Group 4: Union's Response and Demands - IG Metall is cooperating with investigations related to the laptop controversy, with the involved employee opening their device to expedite the inquiry [2][5]. - The union is calling for improvements at the Grünheide factory, including increased staffing, longer break times, and more flexible vacation policies [2][5]. - A union member participating in the election emphasized that employees deserve respect and do not want to be treated as easily replaceable [2][5].

这件事其实没那么可怕。2月9日，法国一个名为高等战略与规划委员会的机构发布了一份报告，建议对 中国加征30%的关税。但两天后，德国、荷兰、芬兰等六个国家明确表示反对。13日，法国财长莱斯屈 尔马上改口，表示一刀切不行，必须按照WTO规则来执行。看似波澜壮阔的中欧大战，其实不过是法 国自说自话提出了一个建议，结果还没真正实施，就已经不了了之。 事实上，欧盟自身的问题也不少。勃兰登堡机场从建造到现在已经三十年，但环保标准在27个成员国之 间来回折腾，进展缓慢。虽然科研投入没有减少，但其中十项专利中，仅有三项能够转化为真正的产 品。德国最近正联合法国、意大利、西班牙等国，共同推进电池回收标准，另外，中欧也悄然达成了3 月启动氢能工作组的共识，其中中方提供电解槽技术，欧方则放开加氢站的招标。 马克龙想通过这次建议为法国战略自主的议题加分，然而德国的默茨根本没有搭理这个话题。宝马在沈 阳的工厂，零部件一半来自欧洲，如果加征30%的关税，单是物流成本就要涨两成。荷兰的阿斯麦公司 去年三分之一的光刻机销售给了中国，结果股价当天就大幅下跌。匈牙利和芬兰则迅速与法国划清界 限，一个依赖中资建设风电项目，一个依赖中企投资氢能项目 ...

Core Viewpoint - Volkswagen is attracting interest from top private equity firms, including Blackstone, EQT, and CVC, for its Everllence division, which produces marine engines and heat pumps. The estimated valuation for this division is between €5 billion (approximately $5.92 billion) and €6 billion [1][1]. Group 1 - Volkswagen's Everllence division is involved in the production of marine engines and heat pumps [1]. - Potential buyers have valued the Everllence division between €5 billion and €6 billion [1].

二〇二六年二月 欧洲汽车制造商协会 立场文件 提案：数字综合法案 建议 I. 数据采集 1. 拒绝修改《提案》第1条第2款第b项中关于数据主体的定义的提议。 2. 修改《提案》第1(2)(e)条中"机器可读数据"的定义，使其涵盖通过任何设备或远程服务器通信 接口传输的数据。 3. 删除提案第2(4)(b)条中"权限"定义中对"数据用户"的提及。 5. 扩大欧洲数据创新委员会的提议成员资格至 将提案的第1(22)条款中纳入行业和服务的代表。 6. 将《数据法》第4条第（13）款和第（14）款合并为一条单一、全面的条款，以规范对非 个人数据的便捷可用数据的利用。 事前 7. 撤销 通知要求，在《数据法》中规定，以减轻数据持有者和通知机构的管理负担 （第4条（2）、（7）、（8）款；第5条（10）、（11）款；第8条（3）款）。 8. 废止《数据法》对于数据持有人披露信息、说明补偿第三方计算依据的要求（第九条第七项 和第二十条第二项）。 9. 废除《数据法》第32条关于数据向第三国转移的规定；相关GDPR条款应仅适用于国际数据 传输。 第十条：废除《可再生能源指令》（欧盟2023/2413号）第二十条a款第三项。 ...

Core Viewpoint - Tesla has launched its purpose-built autonomous taxi vehicle, Cybercab, marking a significant step in the fully autonomous driving sector, but its commercial prospects depend on regulatory approval progress [1][3]. Group 1: Vehicle Design and Features - The Cybercab is designed specifically for Tesla's emerging autonomous taxi business, differing from the 2025 Model Y, as it lacks any manual driving controls [3][4]. - This two-door vehicle is intended for complete autonomous driving, eliminating the steering wheel and pedals [3][4]. Group 2: Regulatory Challenges - Achieving legal road use for the Cybercab requires overcoming significant regulatory hurdles, as federal vehicle safety standards were established with human control systems in mind [3][6]. - Tesla may need to apply for special exemptions from regulatory agencies to meet these requirements, similar to what Zoox has done for its operations in Las Vegas and San Francisco [7][8]. Group 3: Market Position and Pricing - Currently, Tesla's autonomous taxi project primarily operates using the 2025 Model Y, with most trips still relying on human safety supervisors [4]. - Elon Musk indicated that consumers will have the option to purchase the Cybercab, which is designed for autonomous driving and is priced at approximately $25,000 [8].

Core Viewpoint - Yiwu, a county-level city in Zhejiang, has showcased its unique charm during the 2026 CCTV Spring Festival Gala, becoming the first county-level city to independently host a sub-venue for the event, which highlights its economic strength and cultural significance [4][2]. Economic Performance - As of 2025, Yiwu achieved a GDP growth rate of 7.9%, with a total economic output of 269.3 billion yuan and a per capita disposable income of 92,852 yuan, surpassing major cities like Beijing, Shanghai, Guangzhou, and Shenzhen [9]. - Yiwu's import and export performance is notable, with a total import and export value of 836.5 billion yuan in 2025, accounting for nearly 80% of the total for Jinhua city, and a year-on-year growth of 25.1% [7][9]. Consumer Market Development - The upcoming entry of Sam's Club in Yiwu is seen as a significant indicator of the city's consumption upgrade and trend-setting capabilities, with expectations for the store to open by 2027 [6]. - Yiwu's per capita disposable income reached 97,000 yuan, leading among the four cities that hosted the Spring Festival sub-venues, indicating strong consumer purchasing power [6]. Trade and Export Dynamics - In 2025, Yiwu's exports reached 730.7 billion yuan, growing by 24.1%, while imports totaled 105.8 billion yuan, with a growth rate of 32.3% [7]. - Yiwu's trade with emerging markets such as Africa, Latin America, and ASEAN saw significant growth, with respective import and export values of 150.7 billion yuan, 127.4 billion yuan, and 93.9 billion yuan, reflecting year-on-year increases of 23.4%, 14.1%, and 46.7% [18]. Cultural and Social Impact - Yiwu has a strong presence on social media, ranking first among county-level cities in the national city communication heat index, with 30 billion exposures in 2025 [11]. - The viral success of the "Crying Horse" toy, which gained immense popularity due to a production error, illustrates Yiwu's ability to leverage social media for market growth [13]. Resilience and Adaptation - Yiwu merchants have demonstrated resilience in the face of external challenges, such as the U.S. tariff increases, by diversifying their customer base and exploring non-U.S. markets, with over 60% of exports now going to countries involved in the Belt and Road Initiative [17][18]. - The local business community has a tradition of mutual support, helping each other navigate challenges and adapt to changing market conditions [17]. Industrial Upgrading - Yiwu is transitioning from a focus on traditional small commodities to high-end manufacturing, with significant investments in the automotive sector, including a 180 billion yuan investment by Lynk & Co for a new production base [19]. - The opening of the Global Digital Trade Center in 2025 marks a shift towards digital infrastructure, enhancing Yiwu's capabilities in smart manufacturing and AI integration [19][21].

这两天，慕尼黑的安全屋里，上演了一场不太安全的经济对话。 2月13日，当全世界的目光还盯着俄乌战局和中东硝烟时，世界贸易组织总干事恩戈齐·奥孔乔-伊维拉，当着全球政要的面，把矛头直指东方。她的原话非 常直接：中国1.2万亿美元的贸易顺差，是不可持续的，因为"世界其他地区根本吸收不了"。 翻译成大白话就是：你们中国赚得太多了，口袋装得太满，别人看不下去了。 更扎耳的是，她还补了一句："如果中国不采取行动，我们将看到更多的贸易壁垒。" 这话听起来，就像一个牌桌上输急眼了的玩家，对着赢家喊话：你得故意输几把 可问题是，这1.2万亿美元，真的是中国"抢"来的吗？WTO这声"让利减少仇恨"的劝告，到底是公道的仲裁，还是眼红的妒忌？ 先来看这笔账。 2025年，中国货物贸易顺差冲到了1.2万亿美元。这是什么概念？人类历史上，从来没有一个国家做到过这件事。 中国制造业的恐怖韧性，在这一刻展露无遗。 但这恰恰成了别人的心病。美国康奈尔大学教授普拉萨德直接在《纽约时报》开炮：中国的顺差对自由贸易体系的威胁，比特朗普的关税还大。因为你的货 太便宜、太能打，别人家的工厂根本喘不过气。 更让西方心惊肉跳的是，这还是在特朗普重返白宫、 ...