标签归档 上海龙凤


Xiaomi automobile listed for a week, traffic and controversy in Qi Fei.

After Xiaomi released the smart electric car SU7 last Thursday (March 28th), 64-year-old retiree Qing Chang placed an order at the first time and ordered a Pro version of 245,900 yuan (RMB, the same below, S $46,690) for his son who works in Zhuhai, Guangdong.

Xiaomi automobile conference

Qing Yun told Lianhe Zaobao that he has been a Xiaomi mobile phone user for many years, and there are also many Xiaomi household appliances at home. "I went for a test drive two days ago and felt that the appearance was beautiful and the performance was worthy of this price. Although Xiaomi is building a car for the first time, I have confidence in their quality control. "

In the past week, among the more than 100,000 consumers who booked Xiaomi Automobile, there were not only senior "rice noodles" like Qing Chang, but also many people who booked and retired. Xiaomi, who broke into the new energy vehicle market with unprecedented heat, faced doubts and disputes while detonating traffic.

The first question Xiaomi received after its listing was its real sales. According to official data, after the SU7 was opened for booking, the order (the order for paying the deposit) exceeded 10,000 in four minutes, reached 50,000 in 27 minutes, and exceeded 88,898 units in 24 hours, exceeding market expectations.

Xiaomi automobile set 88898 sets for 24 hours.

However, unlike the "big" deposit in general car orders, the 5,000 yuan deposit of Xiaomi Auto can be refunded unconditionally within seven days, and the order will be automatically locked after the deadline, and no refund is supported. In other words, the number of lock orders can better reflect the real sales volume of Xiaomi Automobile.

The special operation of refundable deposit has caused many people to follow suit and place orders, and later they can’t refund the deposit because they mistakenly touched the "lock the order in advance". On the second day after the release of SU7, the topic of "Xiaomi Auto can’t refund the deposit" was posted on Weibo Hot Search, and some users set up rights protection groups for this purpose.

Car blogger Sun Shaojun Tuesday (April 2)
It is estimated that 72 hours after Xiaomi Automobile went on the market, the average store accumulated 1800 to 2000 orders, the lock rate was between 35% and 40%, and the unsubscribe rate was as high as 40%.

Xiaomi official did not confirm the authenticity of the above data. Xiaomi founder Lei Jun disclosed on Wednesday (3rd) on the delivery day of the first batch of SU7 that SU7 had received more than 100,000 orders, and the number of orders locked had exceeded 40,000. The lock rate was in line with the forecast.

Shanghai hardware engineer Gao Weize (26 years old) also placed an order on the day of the release of SU7. However, he later learned that the original version he had booked would be delivered in a week, and he had not obtained the qualification of Shanghai new energy vehicle license required to pick up the car, so he could not keep the order at that time. At this time, if you change to other versions, you have to wait for nearly half a year to pick up the car.

After several trade-offs, Gao Weize cancelled the Xiaomi order and changed to another China electric vehicle brand. When interviewed, he said that the price of krypton is the same as that of SU7, but it can be delivered within two months, just in time for him to apply for a license.

The production capacity of Xiaomi Automobile is another focus of the market. Goldman Sachs, an investment bank, predicted in its research report this week that the average delivery cycle of SU7 has been extended from five to eight weeks to 18 to 21 weeks. According to another data, the delivery cycle of the Max version with the longest waiting time has come to 29 to 32 weeks. In other words, car owners who book the Max version now will not be able to pick up the car until the end of this year.

From Tesla to Huawei, sales of new energy vehicles have declined because the production capacity of new energy vehicles can’t keep up with the growth of orders. Market participants believe that whether Xiaomi can cross the "productivity hell" in the next few months determines how long its hot sales can last.

Tesla automobile

With the addition of Xiaomi, the new energy vehicle market has set off a new round of price war. Huawei, Krypton, Weilai, Tucki and other models with prices ranging from 200,000 yuan to 300,000 yuan have reduced their prices in a week. But this "catfish" that stirs up the market also has to bear the initial losses.

Lei Jun said frankly after last week’s press conference that "every car sold by Xiaomi is a loss". He took Tesla Model 3 as the pricing reference, and set the price of SU7 at 215,900 yuan, which is 30,000 yuan cheaper than Model 3, which means that the pricing of Xiaomi car should not only make consumers feel sincere, but also be able to bear the losses.


Buy grain (short story)

Text/Sun Changguo
When the neighbor’s chicken crowed for the first time, Geng Changfu got up. In fact, I didn’t sleep much all night. For three days, except for a full belly of boiled water, I didn’t touch my teeth. How can I sleep steadily?
The production team’s warehouse has long been out of food. The eldest brother and the second brother run out to dig wild vegetables every day, and sometimes they can’t dig less than half a basket on the 30-40-mile mountain road. After all, every household’s food is not plentiful. The child’s mother hasn’t had milk since she gave birth to three boys. The child cries with hunger every day. Poor big Ni ‘er is only seven years old, but every day she holds three children in her arms and asks others to find milk to eat. Er Nizi is only five years old, and she sits motionless in the corner like a sick little Yaner every day. That’s hungry …
With the faint light coming through the window, he glanced at the five children lying on the heatable adobe sleeping platform, and his empty heart suddenly became tighter.
At noon yesterday, he heard from the people who came back from Miao Mountain that there was a need for a large number of grass stalks on the construction site where the reservoir was built in Changzhuang, and he was wondering about a handful of grass left at home, which might be sold. Thinking of this, he put on a broken cotton-padded jacket and got up. He went to the kang and said something to the child’s mother, and then he went on his way with a straw.
It’s still a little cold in early spring, and I haven’t eaten for a few days. The 40-50-mile walk from home to Miaoshan feels particularly long. The sun climbed up the mountain and only walked more than ten miles, but the sweat on my face rolled like beans and fell down one by one. The wild vegetables on the roadside, including the tender leaves that are a little green, have long been picked up. At least I saw an elm tree, and Changfu broke off a branch and put it in my mouth to chew, so I felt a little full in my heart.
After barely walking more than ten miles, Changfu only felt that his footsteps were getting more and more stumbling and his head was getting heavier and heavier. He kept telling himself that he couldn’t fall down, and there were still several mouths at home waiting for him to get food back, but a fishy smell came to his throat, and then he didn’t know anything.
When he woke up again, he first saw the face of a People’s Liberation Army, and then fixed his eyes, only to find himself lying in the arms of another People’s Liberation Army. The People’s Liberation Army he saw was looking at him with a kettle.
"Hometown, what’s wrong with you? What’s wrong with you?" The PLA man with a kettle asked.
"I’m fine, maybe I just walked too much and was tired." Changfu replied.
Oh, take a sip of water and have a rest.
Looking at the kettle handed over by the People’s Liberation Army, Changfu said with a wry smile: "Thank you, Comrade. To tell you the truth, I haven’t eaten for two or three days, and my stomach is full of water. I really don’t want to drink it."
"I haven’t eaten for two or three days, so what are you?" ……
"There is really nothing to eat at home. I heard that there is a need for straw to build a water reservoir in Changzhuang. I want to try it in the past and stutter at home."
The air seemed to condense in an instant, and Changfu clearly saw the tears rolling out of the determined eyes of the two PLA men. They went to the side and muttered for a while. They came to Changfu and said, "Hometown, it’s still a long way to Changzhuang. Besides, people may not be able to collect your straw after going there. Just because the army needs straw, we will collect it and give you 20 Jin of sticks. What do you think?"
Twenty pounds, this load of straw is put aside at ordinary times, but even five pounds of sticks can’t be exchanged. All of a sudden, I gave twenty pounds, and Changfu didn’t believe his ears. At that time, he stammered. Two PLA men threw straw into the Bucket of the truck, and handed half a bag of sticks to Changfu’s hand, accompanied by two raw sweet potatoes: "Hometown, now the country is in trouble, we have to grit our teeth and get through it. These two sweet potatoes were given to you by us, so you should eat a cushion first." They drove away before Changfu could export the words of gratitude.
When it was dark, Changfu saw the crooked-necked tree at the head of the village and two monkey children waiting under it.
"Dad is back …" Seeing him from afar, the second child trotted over and spread out his dirty little hand: "Today, my eldest brother and I went to the Arnebia euchroma to dig vegetables and found a handful of soft dates for dad to eat." Zicaowa, it’s almost the border of the neighboring county. Looking at the soft dates in the children’s hands, Changfu couldn’t help but have a sour nose: "Good boy, go back and call your mother, say that Dad has bought food and come out to push it …"
When the water was boiling and the noodle was ready to be cooked, Changfu handed the child his mother two sweet potatoes, and one of them took a bite. Looking at the tooth marks on the sweet potatoes, the child’s mother didn’t say a word, and the tears in her eyes were scattered in the boiling water with the noodle, which made a beautiful splash.
About the author: Sun Changguo, pen name Damu, a native of Laiwu District, Jinan City, now lives in Boshan District, Zibo City. Vice chairman of Boshan Writers Association, director of Zibo Writers Association, member of Jinan Writers Association and member of Shandong Writing Society.
Yi Dian Hao da mu
News clue reporting channel: download the "Qilu Yidian" APP in the application market, or search for the WeChat applet "Qilu Yidian", and 800 reporters in the province will wait for you to report online!

25 kinds of books won the title of "the most beautiful book" of the year, which one is your favorite?

  On November 12th, the "Most Beautiful Books" in 2018 was announced. Twenty-five books from 20 publishing houses won the title of "Most Beautiful Books" this year, and they will represent China in the "Most Beautiful Books in the World" in 2019.

  This year’s "China’s Most Beautiful Books" contest began in June this year, and a total of 541 volumes of 326 participating books were received. After two rounds of voting by all the judges, 25 "most beautiful books" of this year were produced on November 10th.

  Founded in 2003, "The Most Beautiful Book" is an annual book design selection activity sponsored by Shanghai Press and Publication Bureau. For more than ten years, the "Most Beautiful Books" jury was entrusted by the German Book Art Foundation, the organizer of "The Most Beautiful Books in the World" in Leipzig, Germany, to invite top book designers at home and abroad to serve as judges, select and recommend the "Most Beautiful Books" from China in that year and send them to Leipzig, Germany to participate in the selection of "The Most Beautiful Books in the World" in the next year. Over the past decade, 15 batches of 321 kinds of "the most beautiful books" from China have appeared in Leipzig, Germany, and 19 kinds have won the award of "the most beautiful books in the world", including 2 gold medals.

  For more than ten years, the evaluation of "The Most Beautiful Book" has always paid attention to the integrity of book design, the perfect combination of book content and form, the improvement of book function by book design, the harmony and unity of design style and suitable feel, and the application of technical means as an important element of design. After more than ten years of advocacy and accumulation, the concept of "the most beautiful book" has been increasingly accepted by the publishing and design circles in China.

  Invited by the "Most Beautiful Books" jury, Japanese designer Mr. Song Tian Masamatsuda, German designer Ms. Konstanze Berner, China Beijing designers Mr. Liu Xiaoxiang and Mr. Zhang Zhiwei, China Guangdong designer Mr. Hong Wei and China Taiwan Province designer Mr. Huang Yongsong served as the invited judges of this year’s "Most Beautiful Books".

  Attachment: Winners and comments of "The Most Beautiful Book" in 2018

  Jiangsu Fenghuang Art Publishing House

  Comments: The elegant gray tone of the book and the texture-rich paper used are very harmonious with the style of the ceramist’s works. The colorless and concave title needs readers to look carefully to form an introverted style. The concave-convex feeling of the seal reminds people of the production process of pottery, and also makes readers have expectations and reading desires for the content. The content of the book is mainly pictures, and the blank layout controls the rhythm of reading, and the priorities are clear, which sets off the author’s ceramic works.

  The field of history

  China Building Industry Press

  Square books indicate many possibilities of space design on paper. Through the dialogue between architects and book designers in China, Japan and South Korea and the display of design works, the graphic designers in the space of paper reflect the control, understanding and design process of the "field" in architecture and paper, and the gap between the characters in typesetting is wide, or vertically or horizontally, suddenly large and small, and obliquely shooting at 45 degrees, which reflects different creative ideas, spatial awareness and layout logic of different styles. The paper material is soft, and the text content and architectural design concept are interlaced in the cube formed by thickness. The Chinese, English, Japanese and Korean characters have various typesetting forms.

  Beijing Joint Publishing Company

  This book uses a wooden box, which looks like an object. Open the box, the color matching of books is very unique, novel and pleasing to the eye. There are books and books, which is the popular way at present. The drawings in the book are beautifully designed, made of special paper, and of moderate size. It is commendable that the designer uses red for the annotations in the book, which is elegant with the main text.

  Huichuang Youth: A Collection of Digital Media Art and Animation Works

  Higher education press

  The colors used in book design are very modern, and with abstract geometric figures, they have a strong visual impact and are full of youth. Every part of the book is combined with double contrasting colors, which is easy to identify at the incision of the book and convenient for readers to read and retrieve. Books are small and thick, with moderate feel and suitable for reading.


  Literature and art development publishing house

  Hand-made cover paper presents water ripples in line with the theme of the book, and the concave and convex texture increases the simplicity of the book. Concise text information is dotted on the spine of the book, which is convenient to find from the bookcase. The text uses simple gray-blue spot colors and the most restrained design elements to form an elegant and rhythmic layout. The calm and elegant overall style brings readers into the mysterious ocean world.

  Spring blossoms facing the sea

  Jiangsu Fenghuang literature and art publishing house

  The uneven handwriting on the cover and the paper full of texture reflect the collision between tradition and modernity. The spine binding technique is simple and practical, and the plain cotton thread conforms to the tonality of this book. Text papers with different colors and textures distinguish the contents of books: Haizi’s poems are orange, representing the sun and the earth. Velco’s paintings are white, which represents pallor and depression. When two people meet, they sink into the soil (earth color). The incision is bound by riding nail which is cut first and then folded, which is unique.

  Chongqing publishing house

  Record the process of facial sketch comprehensively. The image adopts mirror image effect, and the subject is reflected from multiple angles by montage, which increases the reading pleasure. The package has visual coherence.

  Xiangna Gallery

  Shanghai People’s Fine Arts Publishing House

  The overall shape of the book is slender. At first glance, it feels like a box with a sense of the future. The ratio of length to width is very comfortable, and the sense of weight of the book makes readers not surprised. The white cover is dotted with black numbers, which clearly conveys the history of the gallery. The soft paper in the text is different from the materials in the previous album, which increases the comfort of browsing. There is a huge amount of information, but the layout is orderly, the rhythm is moderate, and the overall design style is simple and quiet.

  A brief history of the development of camellia bouquet in "micro-view"

  China Building Industry Press

  This book is a science and technology book. The cover is die-cut and the light pink tone is reminiscent of petals. The pink color that runs through the cover and text of the book is matched with the rhythmic layout design, and the two colored ribbons that are the finishing touch echo the two bright yellow pages in the middle of the inner page, embellishing the yellow of the camellia stamens. This design wins more with less, bringing readers into a world of camellia. The design of charts in the book not only extends the readability of information, but also enriches the formal language of design.

  Commercial press

  There are traces of birds everywhere. Two lines run through the text to represent the flight trajectory of birds and also represent the versions of the works of two translators. This design is quite poetic, light in material, and it fits the image of birds without showing emotion.

  Beiyue literature and art publishing house

  This is a set of low-cost books suitable for reading. Designers strive to be simple and clear in the design and use of paper. The concave pattern on the cover presents different scenery and lines in the author’s hometown, reflecting visual symbols such as water, rice fields, houses and wheat waves. The black text on the cover is arranged up and down, and the design is unique. Looking through the contents of the book, the version is designed with a large margin. A line does not exceed 30 words, and the number of lines on a page is controlled within 24 lines, which is beneficial to reading. The judges appreciated the designer’s attempt at this low-cost book design.

  Shandong friendship publishing house

  This book helps the blind to perceive the characters smoothly and read their contents by touching the source and development changes of Chinese characters and connecting with the cultural connotation behind the words. The book cover is designed in yellow and black, which looks heavy but actually light. Braille fonts on the inner page have a strong sense of touch and reflect the evolution process of Braille fonts. At the same time, in order to be suitable for ordinary readers to read, the text is specially matched with Braille, and the text can also be touched. The overall design of this book is concise and clear, and the visual effect is outstanding.

  Jiangsu Fenghuang Art Publishing House

  Color structure and word processing seem to be on the cloud, and the cover incision is mixed and exquisite. It would be better if it were lighter.

  Jiangsu Fenghuang Art Publishing House

  The perfect unity of design and content is very rare for the more difficult chronicle design. This design skillfully outlines the word "Gao" with thread fitting, adding a literary color. The text takes time as the context, and the layout is rigorous, leaving blank and ethereal, and the image of China is consistent with the cause of Gao Ershi, the protagonist of this book. The choice of paper is exquisite and light, and the signature position of the protagonist on the letter sleeve is clever and quiet. Taking the protagonist’s calligraphy as the book coat, the design is just right.

  Shaanxi normal university publishing head office

  This book is divided into two volumes, the main volume introduces a wide range of businesses in the market; The design of the supplement is also remarkable. It shows people who are engaged in the industry in the form of cartoons, and the businesses that people are engaged in are represented by folding clothes. After folding, the front is a picture, and the back is a record of these people in the market and their languages, which is quite smoky of market life. China in the street is also the China of mankind.

  Jiangsu phoenix education publishing house

  The design shows the true feelings everywhere, and the rough paper wrapped in snacks in old shops is combined with rough edges, showing the fading folk old trades and professions, which has a hazy beauty. The ancient and folk binding method is adopted, and the page number is set strangely. The text in the text and the big picture are represented by different materials, which enriches the visual language. Black-and-white pictures printed on crude paper have an ancient mottled intention, which seems to show that all new industries originate from old businesses.

  Excellent Works Collection of the 9th National Book Design Art Exhibition

  Nanjing Publishing Media Group Nanjing Publishing House

  The combination of book box stamping and cover blanching in this book design combines Chinese characters "book design" and English "book design". The Chinese characters are indented and English blanched, and the top of the head is black. The visual effect is novel, which reflects the innovation of China book designers in binding and controlling materials. The text design of the book is also very unique, and the text and pictures are appropriate and even. It reflects the contents of 338 outstanding works very well. Due to the vacancy of the grand prize in this exhibition, this book also makes a unique expression in design. The design and presentation of exhibits have the characteristics of great information and interest. The spaced but unevenly distributed burrs at the mouth of the book classify all kinds of award-winning works and bring the whole book to a delicate, elegant, peaceful and upright reading context. The text is made of different paper materials and beautifully printed.

  Guangxi Normal University Press

  This collection of images includes 66 photos of birds (similar to bird-shaped bird droppings), which are common in appearance. However, after opening it, you will find that the book is divided into three unique parts: the first part is "Images of Birds", in which all photos are black and white, true and hazy, and the designer consciously downplays the clarity of the photos and gives a detailed statement on the shooting information of the photos; The second part, "Atlas of Convenient Birds", is colored and described in words. Some pictures can be expanded on both sides with exquisite patterns. The third part is "Revealing the Secret of Convenient Birds". In order to prevent readers from feeling uncomfortable, a special seal is designed, which can only be opened to reveal the mystery and present various realistic bird droppings. The author’s mind is wide open, imagining the dirt everywhere in life as a bird, and using the evolution process of photos from black and white to color to reflect the structure of editing design in visual language is an important reason for the book to be recognized by the judges.

  Shanghai literature and art publishing house

  Interesting and humorous, the content and design are mixed, which vividly describes such an unbearable bad habit in daily life and shows the vitality and excellent intentions of young designers.

  Chengdu Times Publishing House

  The overall design not only has a strong folk flavor, but also conforms to the reading aesthetics of modern people. Authentic folk embroidery constitutes the chapters and pages of books, enriches the structure of books and brings surprises to readers. In contrast, the text layout is unpretentious and suitable for quiet reading. The cover is hand-cut fabric, which echoes the title of the book.

  Commercial press

  From the appearance, it is quite special, using magnet as the envelope of the book, and black as the main color. The spine of the three books is exactly the same, and the book mouth is divided into three styles: hairy, flat and uneven, which rotate between the book mouth, the head and the foot. This design feels comfortable, the photos in the book are also black, and the visual experience is relatively unified.

  blossom press

  The design is quite handcrafted, and the softness of the paper is perfectly matched with the rough edges without affectation, which is completely in line with the theme. The color of the paper fits the impression of Dunhuang. The spine of the book is not completely die-cut, and its shape is like a grotto hole. After it is torn off, the title of the book is revealed, which is a clever design.

  China Youth Publishing House

  The details have a sense of lens and substitution. The paper material and binding of the preface are all very strange, the color is like Tibetan prayer flags, and it is like the separation of the contents of the book, echoing the middle pages. Ending with a color photo, the vision is varied and not monotonous.

  china pictorial publishing house

  The interweaving of blue and purple constitutes the rhythm change of this two-volume sister book. The beauty of this book lies in the illustrations full of artistic sense and mystery, which strengthens the artistic conception of the poem. Comfortable small format is very suitable for this collection of poems, which makes readers relaxed and comfortable to read.

  Shanghai People’s Fine Arts Publishing House

  Based on the author’s 40 years’ experience in practice and research, this paper gives a new interpretation of book design concepts and a systematic statement of design methodology. This book focuses on teaching content, rich in knowledge and information, and incorporates various ideas and book-making methods designed by the East and the West. Designers devote their efforts and emotions to writing and design. Considering that this book is mainly used by ordinary students, its book design is concise and easy to understand, and there is not much craft. One aspect that deserves praise is that although the book is a simple paperback, its moderate width is suitable for students to read it in a flat way, which is very stretched. The color of this book is mainly red, supplemented by some blank space. It is very practical to have a printing typesetting series table.


Big callback! China stock market is two worlds apart.

Huijing Ye Tan finance


Wang Wu threw a philosophical question in the exchange group of the real competition yesterday. Why didn’t the cars collide when we were driving on the road?

People in the group were asked, and they were crazy about asking questions.

Wang Wu continued, because when we are driving on the road, we will stop when we see a red light, turn when we see a curve, and avoid when we see an oncoming car.

People in the group are even more confused. Art Wang Wu, what do you mean?

Wang Wu replied in the group,Why don’t we sometimes "stop", "turn" and "avoid" when doing business? Why is it so hard to do it?

On April 21st, Black Friday was staged in China stock market, and there was a 100-share limit.

Judging from the trend, the Shanghai Composite Index weakened from the opening price of 3,364 points, and unilaterally fell to the closing price of 3,301.26 points throughout the day, with a decline rate of 1.95%, close to 2%.

From the graphic point of view, a big yinxian line of the Shanghai Composite Index reversed the Zhongyang line on April 17, showing a sharp decline.

In this regard, some people may think that the stock market is about to start a wave.Adjustment of midline levelMaybe some people will think that this is a once-in-a-lifetime event.Call back and get on the busOpportunity.

Some people are bearish on the market outlook, and some people are bullish, so there will be differences and there will be transactions.

Personally, I don’t shy away from my own point of view, bearish on the growth track and look at the multi-value track.

March 28EvacuationIn this paper, it has been considered that the concept of ChatGPT with an increase of over 100% presents a largefoamAnd made countermeasures.

At the same time, I also think that the future market of the stock market is mainly in the value track.February 23 rdState-owned enterprises outperformed the national GDP growth rate.April 18thOnce again, the importance of the value track was expounded.

Figure: Net buying status of foreign capital Source: Straight flush

Why does the market have different views of bullish, bearish and volatile?

Because there are a thousand readers, there are a thousand Hamlets.

Everyone’s different growth environment and social experience will inevitably bringDifferent world views, mapped to the stock market, will produce different trading views.

Views are very important, but more important than trading views is to stick to your own ability circle.

Repeat the three stages of ChatGPT market to explain the logic of sticking to one’s ability circle in the structural market in the stock market.

The hazy stage of the market,Some people are optimistic, buying and holding artificial intelligence to make profits. At the same time, some people are not optimistic, and they also make profits by doing other things that they are optimistic about, such asChina Software, Taiji SharesDomestic software sector, etc.

The development stage of the market,Some people began to be optimistic, chasing high and holding artificial intelligence for the first time, and then quickly taking profits and making profits.

The fishtail stage of the market,People who were initially optimistic began to bearish and take profit positions.Profits are safe.

Fish tail market,There are also many funds for flips, such as the funds for buying domestic software in the early days. They are not eager to catch up with the market, but they have made a counter-pumping market after the plunge, that is, Longhuitou Scenic Spot, for example360, Inspur InformationSuch as artificial intelligence plate.

Obviously, everyone has different judgments and opinions on the ChatGPT market, but they all earned profits in their own ability circle in the ups and downs of the market.

That is to say, everyone chooses a different way to go to Rome, but as long as they stick to it and don’t go upside down repeatedly, all roads will eventually lead to Rome.

This truth can also be used to answer Wang Wu’s philosophical questions above.

Trading is analogous to driving. When we are driving on the road, if we are in a hurry to do something, we may run a red light, such as going to the hospital, rushing to work, rushing to the airport and so on.

If you suddenly enter a strange place, you may not turn, such as entering the forest, desert, foggy weather, etc.

If you are not in the state when driving, you may not avoid coming cars, such as fatigue driving, drunk driving, sending text messages, etc.

In fact, these "what if scenarios" are things outside our ability circle, and most of the time we don’t have accidents when driving, because we are doing things within our ability circle.

Further divergently speaking, some people’s ability circle is riding a bicycle, some people are driving a car, and some people are flying a plane. They should guard their own ability circle so that traffic accidents will not occur.

Therefore, the viewpoint of ups and downs in China stock market is of course important, but what is more important than the viewpoint is not to be greedy or envious, to foster strengths and avoid weaknesses, to stick to one’s own ability circle, and to earn profits that one can earn.

China’s stock market is a barometer of the economy, and its ups and downs also imply the two worlds of economic inflation and deflation.

On April 21st, the China stock market made a big correction, among which the leading sectors were mainly Chatgpt industrial chain, including big data models and semiconductor chips, which led the gains in the previous period and attracted more funds.

On the other side,The national defense military industry has shown obvious resistance to falling, even rising against the trend.At the same time, the performance of China’s characteristic valuation sector (China Special Valuation) is better than the market average.

In other words, on Black Friday, on the one hand, the value track resisted or even rose against the trend, and on the other hand, the growth track led the decline or even fell to a large limit.

It is worth noting that not only the China stock market has experienced the ups and downs, but also the structural market.

Real estate market,There is a long-lost Xiaoyangchun market in the core areas of first-and second-tier cities, while the third-and fourth-tier cities are still sluggish.

Commodity market,The market of black plate of screw thread and iron ore continued to fall, while the market of energy and chemical industry and live pigs obviously resisted falling or even rose.

In addition, the prices of automobiles, household appliances, photovoltaics and other fields are falling, reflecting the deflationary pressure of the economy; However, the prices of services such as catering, haircuts and oil fees are rising, reflecting the inflationary pressure of the economy.

The deflationary pressure of large-scale enterprises and the inflationary pressure of small and micro enterprises are also reflected in the first quarter of 2023.GDP growth rateGo.

China’s GDP growth rate in the first quarter was 4.5%The growth rate of the secondary industry dominated by large-scale enterprises is 3.3%, which is lower than the average growth rate of GDP; The growth rate of the tertiary industry dominated by small and micro enterprises is 5.4%, which is higher than the average growth rate of GDP (see the figure below).

The whole economic market is half flame and half seawater.

All of the above fully shows that the economic probability of China, including the stock market, has entered a differentiated market.So, the stock marketUnder the general trend that the whole economy is divided, the differentiation will gradually become the norm.

That is to say, the risk of China investors chasing up and down will be further amplified, on the contrary, the cost performance of China investors buying at low prices will be further strengthened.

Figure: GDP growth rate of service industry and industry Source: wind

Finally, I personally think that we can have divided views on the trends of stocks, even real estate, gold and bonds.

However, we all have to implement our own views and realize the realization within our own ability circle.

For example, we all know that Wenzhou real estate speculators are very profitable, but is that our ability circle? For example, we all know that the stock market is very profitable, but is that our ability circle?

For another example,

Just because others can watch more and do more doesn’t mean we can watch more and do more. We can watch more and stay put, and then do more when we trigger our own ability circle signal.

Everyone’s ability circle is different, and these signals are naturally different. It can be that the golden fork is long, the Brin channel breaks up and goes long, and after breaking through the 60-year moving average, it will step back and go long, and continuously pull back to the golden section to buy long.

These signals can also be that the first quarter report is in line with expectations, the price falls to the lower end of the enterprise valuation, and the marginal variables in the enterprise performance are long.

Personally, I feel that the adjustment of China’s economy, including the stock market, real estate, gold, bonds, etc., will also have constant structural differentiation, and the track style will rotate.

We should cherish more what we are good at, persist in fostering strengths and avoiding weaknesses, and stick to our own ability circle. Don’t go astray, let alone join in the fun outside your own ability circle.

What do you think?

(Disclaimer: This article is an objective analysis of the public information of Ye Tan Finance and Economics, and does not constitute investment advice. Please do not use it as the basis for investment.)

How did the United States hurt the world by raising interest rates ten times?

  A few days ago, the Federal Reserve made its 10th decision to raise interest rates in the past 14 months, which once again triggered market shocks. Continued interest rate hikes have not only brought the United States closer and closer to the economic recession, but also caused the whole world to take the blame for the United States.

  Europe, which is the most tightly bound by American strategy, took the lead in responding, followed by the United States to raise interest rates passively for the seventh time since July last year.

How did the United States hurt the world by raising interest rates ten times?

  △ Yahoo News reported that the European Central Bank held a monetary policy meeting on May 4 and decided to raise the three key interest rates in the euro zone by 25 basis points. The main refinancing rate, marginal lending rate and deposit mechanism rate were raised to 3.75%, 4.00% and 3.25% respectively from the 10th of this month.

  However, the analysis believes that the monetary tightening policy has led to the continued weakness of the euro zone economy, and the European Central Bank will still be in a dilemma between curbing inflation and seeking economic growth.

How did the United States hurt the world by raising interest rates ten times?

  △ US Consumer News and Business Channel website reports: According to Eurostat data, in the first quarter of this year, the GDP of the euro zone only increased by 0.1%, which was less than expected, and the German economy stagnated.

  This dilemma is certainly not limited to Europe.

  Due to the hegemony of the US dollar, the Fed’s aggressive interest rate hike this round made the yield of US bonds rise and the US dollar strengthened rapidly. Its spillover effect induced large-scale capital to flow to the United States, which made the stock markets, foreign exchange markets and bond markets of many countries suffer violent impacts, forcing these countries to follow the interest rate hike in order to maintain macroeconomic stability, thus increasing their own economic recession risks.

How did the United States hurt the world by raising interest rates ten times?

  △ Most central banks in the world are raising interest rates at a synchronous rate that has not been seen in the past 50 years (screenshot of the US "Investment Encyclopedia" website report)

  "Fed’s interest rate hike will aggravate the global debt crisis"

  According to the analysis of experts from the World Bank, in the past year or so, the rise of interest rates in the United States was mainly driven by the "reaction shock" triggered by investors’ expectation of the Fed’s shift to a tougher monetary policy stance.

How did the United States hurt the world by raising interest rates ten times?

  △ Screenshot of World Bank official blog report

  The rise in US interest rates driven by "reaction shock" is particularly harmful to the financial markets of emerging markets and developing economies. Facts have proved that the sharp rise in interest rates in the United States and the corresponding rise in the foreign exchange value of the US dollar have had a significant spillover effect on the borrowing costs of emerging markets and developing economies. The debt levels of many emerging markets and developing economies have generally soared, and the debts of many governments have reached record highs. Some countries have fallen into financial difficulties and even defaulted on their debts.

How did the United States hurt the world by raising interest rates ten times?

  △ The report "Debt Relief for Green and Inclusive Recovery (DRGR)" jointly released by the Center for Global Development Policy Research of Boston University, the Center for Sustainable Finance of the School of Asian and African Studies of London University and the Heinrich Burr Foundation in April shows that during 2008-2021, the sovereign debt of emerging markets and developing economies increased by 178%, from $1.4 trillion to $3.9 trillion.

  The US Consumer News and Business Channel also warned that the Fed’s interest rate hike will aggravate the global debt crisis. Debt payments in developing countries increased by 120% from 2010 to 2021, reaching the highest level since 2001. The average proportion of government revenue used to pay foreign debts increased from 6.8% in 2010 to 14.3% in 2021.

How did the United States hurt the world by raising interest rates ten times?

  △ Screenshot of US Consumer News and Business Channel website report

  Georgieva, managing director of the International Monetary Fund, warned that the Fed’s interest rate hike may "throw cold water" on the already weak recovery of some countries. The rising interest rate in the United States and the appreciation of the dollar may make it more expensive for countries to repay their debts denominated in dollars.

  By the end of 2022, the total debt of developing countries rose to a record $98 trillion.

How did the United States hurt the world by raising interest rates ten times?

  △ World Bank reports in official website: Rising interest rates and slowing global growth are likely to plunge a large number of countries into debt crisis. Debt servicing has brought the greatest pressure to poor countries since 2000.

  "Casino capitalism" is accelerating the flight of many countries from the US dollar.

  The history of dollar hegemony is the history of the United States arbitrarily harvesting world wealth.

  The Australian "East Asia Forum" website once published an article pointing out that in the 1970s and early 1980s, the Federal Reserve led by Paul Volcker reduced the inflation rate in the United States by raising interest rates aggressively, but pushed up the global interest rate, causing many emerging economies to default on their debts. The debt crisis after the Volcker shock made developing countries feel sad. The Fed’s interest rate hike has had a devastating impact on Latin America. The gross domestic product (GDP) in this area plummeted, and the unemployment rate and poverty rate rose sharply. There are similar experiences in debt-ridden countries in Africa. The Fed has not paid enough attention to how its wayward policy choices will affect the rest of the world.

How did the United States hurt the world by raising interest rates ten times?

  △ Australia’s "East Asia Forum" website report screenshot

  This is true. How can the Fed, which holds the hegemony of the US dollar, care about other places? !

  Eduardo Porter, an information columnist of Bloomberg, recently questioned: "Can the Fed led by Powell afford to ignore geopolitics?"

  The article points out that today, the Fed once again faces the high inflation in the Volcker era. As it is raising interest rates at the fastest rate in more than 40 years, "the original memory of people’s disillusionment with economic prosperity is resurfacing throughout Latin America and the wider developing countries."

How did the United States hurt the world by raising interest rates ten times?

  △ Screenshot of Eduardo Porter’s commentary reprinted on the Washington Post website.

  In connection with the direct and indirect damage caused by the United States’ indiscriminate unilateral sanctions against other countries by using the hegemony of the US dollar for many years, the international community generally believes that the economic and financial policies of the United States have become the biggest challenge to global financial stability, economic recovery and common development.

  Faced with the harm of dollar hegemony to the world economy, more and more economies have begun to take practical actions to safeguard their rights and interests. Many countries, including some American allies, have actively explored the path of "dollarization" by reducing US debt, promoting bilateral monetary agreements and diversifying foreign exchange reserve assets. In addition, central banks are still buying gold at the fastest rate since 1967.

How did the United States hurt the world by raising interest rates ten times?

  △ Reuters reports: In 2022, central banks bought a record 1,136 tons of gold, and in 2023, the trend of global central banks’ gold purchase continued.

  With the acceleration of the global "dollarization" process, the control of the US dollar as the world’s reserve currency on the international economic system is weakening. The data shows that in the past 20 years, the share of the US dollar in the international reserves of global central banks has dropped by 12 percentage points, from 71% to 58.36% in 2022, which is the lowest level since the data was recorded in 1995.

How did the United States hurt the world by raising interest rates ten times?

  △ Screenshot of Turkish Radio and Television Corporation (TRT) website report

  Peter Earle, an economist at the American Economic Research Institute, recently pointed out in his article "De-dollarization has begun" that the US dollar has gradually changed from an ordinary carrier of payment, settlement and investment to a financial tool used by the US government to implement unilateral sanctions. Especially after the escalation of the Ukrainian crisis last year, the US wantonly weaponized the US dollar, which accelerated the flight of many countries. "In the long run, ‘ De-dollarization ’ Will continue, and the dollar will lose power overseas sooner or later. "

How did the United States hurt the world by raising interest rates ten times?

  △ Screenshot of the article on the website of the American Economic Research Institute

  Pepe Escobar, a Brazilian geopolitical analyst and senior journalist, called American monetary policy "casino capitalism" in an interview with the media. He pointed out that after weighing the pros and cons, more and more countries found that the US dollar was not safe. The aggressive U.S. sanctions policy and reckless government spending have significantly reduced the international appeal of the dollar. The upcoming BRICS summit in South Africa may be the key to progress in dollarization. The dollar-centered world order is doomed to end.

How did the United States hurt the world by raising interest rates ten times?

  △ Sputnik news agency & radio report screenshot

  Source: Global Information Broadcasting "Global Deep Observation"

  Planning Wang Jian

  Reporter Shan Lijuan

  Editor Yang Nan

  Qian Shen Zou Haoyu

  Producer: Jiang Aimin