日本首相高市早苗近期发表的涉台错误言论，在日本国内引发批评。大阪公立大学教授堀口正表示，高市错误言论对日本旅游业和经济带来了负面影响，尤 其是与中国游客和日中贸易高度相关的关西地区。 0:00 大阪公立大学教授 堀口正：大阪经济本身也高度重视与中国的贸易关系，在IT产业、电子零部件等领域，一直与中国保持着密切往来。如果这一问题持续 下去，关西地区的经济可能会受到相当大的冲击。 大阪公立大学教授 堀口正：高市发表错误言论后，我个人感觉，自11月起从中国来的游客数量就有所下降。如今大阪主要是以观光产业为重点发展的地 区，如果此次事态长期化，关西的旅游相关行业，如住宿、交通运输、土特产等行业都会受到较大影响。如果赴日中国游客的减少长期持续下去，我认为这 将对关西地区的经济，产生非常大的影响。 堀口正还表示，以大阪为中心的关西地区，一直与中国贸易关系密切，高市错误言论将导致关西地区经济受到冲击。 大阪公立大学教授 堀口正：目前从中国来日本的留学生大约每年有十万多人，占全部赴日留学生的大约三到四成左右。日中政治关系恶化的话，中国留学 生的留学意愿也会下降，甚至影响日中友好关系的长期发展。我希望高市能够展现出尊重日中友好 ...

Group 1 - India's GDP growth remains strong, with a year-on-year increase of 7.8% in Q1 FY2025 and 8.2% in Q2 FY2025, marking the highest growth rate in nearly six quarters [1] - The IMF rated the quality of India's GDP data as "C," the second-lowest level, which affects international confidence in India's economic data [1] - Foreign Direct Investment (FDI) in India has significantly declined from over $43 billion in FY2021 to less than $2.7 billion in FY2024, with a rare negative net FDI recorded in August 2025 [1] Group 2 - The slow development of India's manufacturing sector has led to a shift in foreign direct investment from long-term industrial projects to short-term profit-driven ventures, resulting in capital outflows [2] - Indian companies are increasing their overseas investments, which has contributed to a decline in net foreign direct investment [2] - The uncertain regulatory environment in India has caused some foreign companies to exit quickly after realizing profits, rather than making long-term investments [2] Group 3 - The large-scale withdrawal of capital from the Indian market is primarily due to high tariffs imposed by the U.S. on Indian goods, impacting the macroeconomic outlook [3] - The proposed 25% tax on outsourced services by the U.S. is expected to negatively affect India's IT sector, which relies heavily on outsourcing [3] - The Indian stock market has experienced a correction over the past 14 months, with foreign investors withdrawing over $17 billion, while domestic institutional investments have increased significantly [3]

Core Viewpoint - The article discusses the importance of solidifying the manufacturing base in the context of the U.S. competitive geopolitical economic strategy, highlighting the mixed views on its effectiveness in improving employment, national defense, and innovation [2][5]. Group 1: Manufacturing Employment and Economic Impact - Manufacturing has a high employment multiplier effect, creating approximately 2.2 indirect jobs for every direct manufacturing job, which is significantly higher than other sectors [11][12]. - Despite the employment multiplier, the average wage in manufacturing is lower than in the service sector, with 2024 manufacturing average hourly wage at $34.5 compared to $35.6 in services [9][11]. - The decline in manufacturing's share of the economy raises concerns about increasing income inequality, as the service sector shows greater wage variability [9][11]. Group 2: National Defense and Manufacturing - Manufacturing is critical for national defense, with the U.S. Defense Industrial Base (DIB) relying heavily on the manufacturing ecosystem [18]. - The reduction in the number of defense contractors and manufacturing personnel does not necessarily indicate a decline in the defense industry, as actual production output has been increasing [18]. - The COVID-19 pandemic highlighted vulnerabilities in the supply chain, reinforcing the need for domestic manufacturing capabilities to ensure national security [18]. Group 3: Innovation and Manufacturing Outsourcing - Manufacturing is seen as a growth engine, particularly for developing countries, while its role in developed countries is more about high R&D investment and driving IT innovation [19][20]. - There is ongoing debate about whether outsourcing manufacturing jobs weakens innovation capabilities in developed countries, with some studies indicating negative impacts on R&D due to increased transaction costs and reduced feedback loops [36][37]. - The modularity and maturity of manufacturing processes influence the extent to which outsourcing affects innovation, with certain industries being more susceptible to negative impacts [38][39]. Group 4: Tariffs and Manufacturing Return - The article explores the potential for tariffs to encourage the return of manufacturing jobs to the U.S., although the effectiveness and economic implications of such tariffs are debated [41]. - The optimal tariff rate is influenced by the price elasticity of supply and demand, which determines the impact of tariffs on domestic manufacturing [41].

Core Viewpoint - The China Engineering Physics Research Institute has decided to adjust the equity reform plan of Jiuyuan Group, which may lead to changes in the controlling shareholder and actual controller of Lier Chemical, but will not affect the controlling shareholder and actual controller of Jiuyuan Group itself [2][4]. Group 1: Equity Reform Announcement - Lier Chemical received a notice from its controlling shareholder, Jiuyuan Group, regarding the adjustment of the equity reform plan, which may result in changes to its controlling shareholder and actual controller [2]. - Jiuyuan Yinhai also announced receipt of a similar notice, stating that the adjusted equity reform plan will not lead to changes in Jiuyuan Group's controlling shareholder or actual controller [4]. Group 2: Historical Context - Jiuyuan Group holds 23.78% of Lier Chemical's shares and 26.29% of Jiuyuan Yinhai's shares, making it the controlling shareholder of both companies [6]. - The equity reform discussions have been ongoing for eight years, with initial announcements made in March 2017 regarding potential changes in the actual controller [6]. Group 3: Jiuyuan Group's Role and Strategy - Jiuyuan Group is a key platform for the military-civilian integration industry, primarily investing in fine chemicals, IT, environmental protection, and new materials [7]. - The group has 21 secondary investment enterprises, with 6 being wholly-owned or controlled companies, and has adopted a high-tech, industrialization investment strategy [7]. Group 4: Recent Developments and Strategic Directions - The head of the China Engineering Physics Research Institute visited Jiuyuan Group in April 2023 to discuss integrating its development into the overall planning of the institute [8]. - The institute's leadership emphasized the need for Jiuyuan Group to focus on its core responsibilities and enhance its role in meeting technological demands [9][10]. Group 5: Market Performance - As of May 19, Lier Chemical's stock closed at 10.58 CNY per share, with a market capitalization of 8.47 billion CNY, while Jiuyuan Yinhai's stock closed at 17.51 CNY per share, with a market capitalization of 7.15 billion CNY [11].