据爱沙尼亚统计局数据，2025年12月份,爱沙尼亚零售贸易企业营业额达10亿欧元，同比基本持 平。其中，汽车燃料零售企业的营业额同比增长10.2%，销售电脑及其配件、电信设备、体育器材、游 戏、玩具等的专卖店的营业额同比增长9.1%，药店和化妆品商店的营业额同比增长1.9%。销售二手商 品和非商店零售（摊位、市场和直销）商店的营业额同比下降6.1%，销售家居用品、家电、五金和建 筑材料的商店营业额同比下降4.9%，通过邮购或互联网零售营业额同比下降4.0%，销售制成品为主的 百货商店的营业额同比下降3.8%，销售纺织品、服装和鞋类的商店营业额同比下降2.4%。 2025年，爱沙尼亚零售贸易企业营业额累计达108亿欧元，同比增长2%。 ...

据北京日报客户端消息，1月21日，外交部发言人郭嘉昆主持例行记者会。 "我们敦促欧盟避免在保护主义的错误道路上越走越远，否则中方必将采取必要措施坚决维护中国企业 合法权益。"郭嘉昆说。 据路透社和美联社此前报道，当地时间1月20日，欧盟方面宣布，计划在关键基础设施领域逐步淘汰来 自"高风险"国家企业的零部件和设备，如高速电信网络。 新措施将适用于欧盟委员会确定的18个"关键领域"，包括探测设备、联网和自动化车辆、电力供应与储 存系统、供水系统以及无人机和反无人机系统。同时，云服务、医疗设备、监控设备、航天服务和半导 体也被归类为"关键领域"。 根据提案，法律生效后，各国移动运营商将强制在所谓"高风险供应商"名单公布后36个月内逐步淘汰关 键组件，固定网络（包括光纤和海底电缆）以及卫星网络的淘汰期将在稍后公布。 提案虽未点名任何国家或公司，但"高风险"一词此前已被用于指代中国等国家，且中企多年来频频遭到 欧盟、美国等西方国家无故打压。 早在2020年，欧盟通过5G安全"工具箱"，以安全为由，限制所谓"高风险供应商"的使用。美国2022年禁 止批准中企的新电信设备，并敦促欧洲盟友效仿。2023年，欧盟委员会再次声 ...

据海外报道，欧盟计划在关键基础设施领域逐步淘汰来自"高风险"供应商的零部件和设备，此举遭到了 华为的批评。华为预计将成为受影响的企业之一。 欧盟委员会在对《欧盟网络安全法》的修订中提出了这些措施。在此之前，欧盟网络攻击和勒索软件攻 击数量上升，而且欧盟还担心对非欧盟技术供应商的依赖程度不断加深。 欧盟委员会是欧盟27个成员国的执行机构，并未点名任何具体公司或国家。不过，欧洲近年来一直在收 紧对中国技术的审查。 德国最近成立了一个专家委员会，重新评估对华贸易政策，并已禁止在未来的6G电信网络中使用中国 制造的组件。 根据周二的提案，欧洲移动运营商将在高风险供应商名单公布后36个月内逐步淘汰关键组件。固定网络 （包括光纤和海底电缆）以及卫星网络的淘汰时间将另行公布。 维尔库宁表示："这是在保障欧洲技术主权、为所有人创造更安全环境道路上迈出的重要一步。" 针对被认定为存在网络安全风险国家的供应商的限制，只有在欧盟委员会或至少三个欧盟国家启动正式 风险评估后才会生效。任何措施都将基于市场分析和影响评估。 电信行业游说组织Connect Europe警告称，该提案将增加行业负担，额外的监管成本可能高达数十亿欧 元。 修 ...

Core Viewpoint - The European Union is advancing a cybersecurity bill that mandates the gradual elimination of equipment from "high-risk suppliers" such as Huawei and ZTE in critical infrastructure, primarily targeting Chinese tech companies in sectors like telecommunications and solar energy [1][2]. Group 1: Legislative Actions - The proposed bill is a significant escalation in the EU's policy against Chinese tech firms, following previous measures like the 2020 "5G Cybersecurity Toolbox" and investigations under the "Foreign Subsidies Regulation" [1][2]. - The new legislation aims to completely exclude high-risk suppliers from all critical infrastructure, marking a shift from previous advisory policies to mandatory regulations [1][2]. Group 2: Economic Implications - Replacing Chinese telecom equipment in the EU is estimated to cost billions of euros, with over 90% of solar panels in the EU sourced from China, making local production significantly more expensive [2]. - The EU relies heavily on Chinese inverters for solar power, with 70% of new installations in 2023 using imported Chinese products, which are priced over 20% lower than EU alternatives [2]. - The financial impact of the bill could delay or hinder projects in the EU, affecting the region's digital and low-carbon transitions [2]. Group 3: Political Context - The bill is perceived as a trade barrier disguised as a cybersecurity measure, with critics arguing that it discriminates against Chinese products without substantial evidence of security risks [2][3]. - The narrative surrounding the security risks of Chinese equipment is seen as politically motivated, lacking concrete proof and contributing to a climate of distrust [3]. Group 4: Industry Perspective - Chinese technology has been integral to the EU's advancements in 5G communication and green energy, providing cost-effective solutions that support the region's technological and environmental goals [2]. - The EU's approach may lead to self-inflicted harm, as it risks stifling innovation and cooperation that could benefit both parties [3].

【文/观察者网 阮佳琪】 欧盟又要"作妖"。据《金融时报》1月17日报道，欧盟拟禁止中国供应商涉足欧盟关键基础设施。 报道援引欧盟官员消息称，布鲁塞尔方面计划提议逐步淘汰欧盟关键基础设施中的中国制造设备，禁止 华为、中兴等企业参与欧盟电信网络、太阳能系统及安检扫描仪的建设与运营。路透社称，欧盟委员 会、中国商务部、华为及中兴等方面均尚未回应此事。 此举，是欧盟对所谓"高风险供应商"政策的升级。据知情人士透露，这份将于下周二提交的欧盟《网络 安全提案》，拟将此前限制或排除所谓"高风险"供应商入网的自愿性机制，升级为所有欧盟成员国必须 遵守的强制性规则。 2020年，欧盟通过所谓"5G网络安全工具箱"，污称华为、中兴等中国企业为所谓"高国家安全风险"的通 信设备供应商。多年来，德国、瑞典等国盲目跟风炒作，禁止使用中国供应商的设备；西班牙、希腊等 国则仍允许在本国网络中安装相关设备。 这种内部执行的不一致，被欧盟对华鹰派渲染为"存在重大安全风险"。《网络安全法案》草案初稿也借 机炒作，声称"事实证明，零散的各国自主解决方案，不足以建立覆盖整个市场的信任体系与协同机 制"。 西班牙马德里街头的华为招牌 上述欧盟官员声 ...

Overview - The article draws parallels between the current AI investment climate and the dot-com bubble of the late 1990s, suggesting that understanding the historical context can provide insights into current market dynamics [1][5] - It emphasizes the importance of recognizing the signs of a potential bubble and the need for a nuanced approach to investment decisions in the face of market skepticism [1][5] Market Dynamics - The Nasdaq index experienced significant volatility from 1995 to 2000, with annual declines exceeding 10% or even 20%, yet the market did not enter a bear phase, indicating resilience [5] - The period saw a marked increase in technology IPOs, peaking in 1999, with the Nasdaq reaching a record high of 5048.62 on March 10, 2000, before a global sell-off triggered by Japan's economic downturn [1][5] Economic Factors - Two key economic characteristics during this period were rapid increases in labor productivity and a boom in technology investments, which led to a contraction in output gaps and a failure of the Phillips curve, as inflation did not rise despite falling unemployment [7][11] - The Federal Reserve's monetary policy shifted from a focus on controlling inflation in the 1980s to a more flexible approach in the 1990s, which contributed to a generally accommodative monetary environment [11] Policy Environment - The Federal Reserve under Alan Greenspan adopted a more lenient monetary policy framework, balancing concerns about inflation and employment while also considering the stability of overseas economies and financial markets [11] - Greenspan's evolving stance on asset prices, from initial optimism to warnings about "irrational exuberance," reflected a complex approach to managing the economic landscape [11][12] Industry Insights - The period from 1995 to 1997 marked the beginning of the internet boom, with significant policy changes, such as the Telecommunications Act of 1996, facilitating the commercialization of the internet and spurring investment in telecommunications [17][18] - The technology sector's performance was not isolated; other sectors like healthcare and finance also showed strong returns, indicating a broader market dynamic rather than a singular focus on tech stocks [21] Investment Trends - The late 1990s saw a surge in IPOs and a focus on market capitalization management, particularly in the telecommunications sector, which was driven by the need for infrastructure investment [33][34] - The "Y2K" issue created a unique demand for technology upgrades, further fueling investment in the tech sector, with estimates suggesting a $100 billion market for related expenditures [34] Conclusion - The article concludes that while technological advancements are crucial for productivity, the excessive capital expenditure during the bubble phase can hinder efficiency gains, highlighting the need for a balanced approach to investment in technology [52]

Core Insights - In November 2025, the retail trade turnover in Estonia reached €910 million, showing a year-on-year stability [1] Group 1: Retail Performance - The turnover of automotive fuel retail businesses increased by 13% year-on-year [1] - The turnover from second-hand goods and non-store retail (including stalls, markets, and direct sales) rose by 10.3% year-on-year [1] - Specialty stores selling computers and accessories, telecommunications equipment, sports equipment, games, and toys saw an 8% year-on-year increase in turnover [1] - Retail turnover in textile, clothing, and footwear stores grew by 0.5% year-on-year [1] - Conversely, the turnover from mail order or internet retail declined by 9.7% year-on-year [1] - Department stores focused on finished products experienced an 8.3% year-on-year decrease in turnover [1] - Stores selling home goods, appliances, hardware, and building materials saw a 6.4% year-on-year decline in turnover [1] Group 2: Cumulative Retail Data - From January to November 2025, the cumulative turnover of retail trade enterprises in Estonia reached €9.8 billion, reflecting a 2% year-on-year growth [1]

印度电子和信息技术部表示，这些项目将加强国内供应链并降低对进口的依赖。截至2025年3月的一年中，印度电子制造业产值约1250亿美元。 去年最后一天，印度政府在其发布的一份经济状况简报中称，按国内生产总值（GDP）计算，印度经济规模已达4.18万亿美元，超过日本，成为全球第四大 经济体，并有望在未来两年半至三年内取代德国，升至第三位；到2030年，其GDP预计将达到7.3万亿美元。 据近日消息，在宣布超越日本成为第四大经济体后，印度开始加大对国内制造业的投资。 据悉，印度电子和信息技术部表示，已批准该国电子元件制造计划（ECMS）下的第三批项目申请，价值约4186.3亿卢比（约合人民币325亿元左右），旨在 通过激励计划促进电子元件的国内制造，并且追赶中国和美国等。 此次获批项目包括三星和塔塔电子等企业提出的方案，涵盖手机、电信设备、消费电子、汽车和IT硬件中使用的11种产品。 ...

去年最后一天，印度政府在其发布的一份经济状况简报中称，按国内生产总值（GDP）计算，印度经济 规模已达4.18万亿美元，超过日本，成为全球第四大经济体，并有望在未来两年半至三年内取代德国， 升至第三位；到2030年，其GDP预计将达到7.3万亿美元。 据悉，印度电子和信息技术部表示，已批准该国电子元件制造计划（ECMS）下的第三批项目申请，价 值约4186.3亿卢比（约合人民币325亿元左右），旨在通过激励计划促进电子元件的国内制造，并且追 赶中国和美国等。 此次获批项目包括三星和塔塔电子等企业提出的方案，涵盖手机、电信设备、消费电子、汽车和IT硬件 中使用的11种产品。 印度电子和信息技术部表示，这些项目将加强国内供应链并降低对进口的依赖。截至2025年3月的一年 中，印度电子制造业产值约1250亿美元。 原标题：宣布超日本成世界第四大经济体！印度投325亿元促电子元件制造 追赶中美等 快科技1月5日消息，在宣布超越日本成为第四大经济体后，印度开始加大对国内制造业的投资。 ...

【环球时报报道 记者 苑基荣】据印度《经济时报》2日报道，印度电子和信息技术部表示，已批准该国 电子元件制造计划（ECMS）下的第三批项目申请，价值约4186.3亿卢比（100印度卢比约合7.8元人民 币），旨在通过激励计划促进电子元件的国内制造。 此次获批项目包括三星和塔塔电子等企业提出的方案，涵盖手机、电信设备、消费电子、汽车和IT硬件 中使用的11种产品。印度电子和信息技术部表示，这些项目将加强国内供应链并降低对进口的依赖。截 至2025年3月的一年中，印度电子制造业产值约1250亿美元。 美国CNBC网站援引印度政府数据报道称，电子产品在2025财年成为印度第三大出口商品，截至2025年 3月的财年出口额达385.6亿美元。但这些出口几乎被价值368亿美元的电子元件进口所抵消。2025财年 上半年，印度大部分电子元件进口来自中国内地（占比近40%），其次是中国香港（占比超过16%）。 路透社2日报道称，印度一直在加强推动电子制造业发展，推出一系列激励计划以吸引全球和本土投资 者，提高本地制造能力，减少进口依赖，并加强多个行业的供应链。2025年4月，印度联邦内阁批准了 电子元件制造计划，第一批批准了7 ...