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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.

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The 2023 Guangdong-Hong Kong-Macao Greater Bay Area Auto Show will be held in Shenzhen from June 16 to 24, with thousands of models unveiled and car purchase subsidies.

Shenzhen News Network June 12, 2023(Shenzhen Business Daily reporter Yuan Weibin) 2023 Guangdong-Hong Kong-Macao Greater Bay Area International Automobile Expo and New Energy Automobile Expo will be held in Shenzhen Convention and Exhibition Center from June 16th to 24th.

It is understood that this year’s auto show plans to open all exhibition halls and outdoor areas of Shenzhen Convention and Exhibition Center No.1-No.9. For the first time, the organizing committee has built a circle-type, interactive and shared exhibition hall in all directions, and the utilization rate of the exhibition hall has set a new record for domestic auto shows. A number of scene experience areas, such as conference forum area, intelligent technology exhibition area, test drive area and unmanned intelligent driving area, will be opened on site, with an exhibition scale of 150,000 square meters. About 100 Chinese and foreign automobile brands with more than 1,000 models participated in the exhibition, and a number of new car concept cars will be unveiled.

The theme of this year’s auto show is "going ahead to the future". Most participating brands have brought new models with intelligent applications, and almost all vehicle brands have brought models with new energy technologies, realizing the overall intelligence and new energy of vehicle brands. It is worth mentioning that on the first day of the opening of this auto show, the "2023 Future Automobile Pioneer Conference and Global Intelligent Networked Automobile Commercialization Innovation Conference" will be held again, with the theme of "CoEVO Synchronization First". It aims to explore the frontier topics of intelligent networked automobile commercialization innovation and lead the future automobile development trend.

This year’s conference is dedicated to creating an influential and authoritative comprehensive industrial public service platform for high-end dialogue and exchange, industrial policy release, forward-looking demonstration application and product display experience, and becoming the highest-standard "automobile+technology" event in the future automobile and travel industries. The conference will also focus on the cutting-edge technology applications and future development trends of high-tech cross-border innovations such as intelligent networking, intelligent sensors, unmanned vehicles and robots, artificial intelligence and autonomous driving.

In addition, this year’s auto show site will link Hong Kong and Macao cars for in-depth exchanges. The auto show will also provide L4 self-driving vehicles in conjunction with enterprises such as Yuanrong Qixing, a "future travel partner", so that citizens can experience the global self-driving team’s travel test ride and feel the scientific and technological charm of intelligent networked driving. It is reported that the car purchase subsidies that the majority of car buyers care about and look forward to will also be released during the auto show. 


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Is it dangerous to drive behind in rainy days?

It is not dangerous to drive with a rear-wheel drive in rainy days, but you need to pay attention to the correct driving style.

If riders drive on slippery roads after driving, they must be careful not to drive too fast, and don’t suddenly slam on the accelerator, otherwise there may be tail flick, which is more dangerous.

In addition, the rear-wheel drive is prone to over-steering while the front-wheel drive is prone to under-steering. This is because most of the front-wheel drive engines and weights are concentrated in the front part, which leads to unreasonable driving mode and weight distribution.

The driving mode and weight distribution of rear-wheel drive are reasonable. The rear wheel is responsible for driving the car forward and the front wheel is responsible for steering. This driving mode and weight distribution can balance the front and rear counterweights of the car and make the car more stable.

Therefore, the correct driving mode can ensure the safety and reliability of rear-wheel drive in rainy days.

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Follow the subway to Shanghai

Take the subway to visit Shanghai, "never leave Shanghai" for the National Day! Rail Transit Line 10 is a famous tourist line in Shanghai Railway. Shanghai Zoo, Wu Kang Road, Xintiandi, Chenghuang Temple and Nanjing East Road are all popular punch points, and the specialty shops and food in each place should not be missed ~

-Shanghai Zoo-

Shanghai Zoo is adjacent to Shanghai Hongqiao International Airport. Founded in 1954, it was originally named Xijiao Park. There are more than 400 kinds of animals on display in the park, which is one of the top ten zoos in China.

There are world-famous giant pandas known as "national treasures" and "living fossils", rare wild animals such as golden monkey, South China tiger and alligator in China, and representative animals from all over the world such as gorillas, African lions, giraffes, kangaroos and tapirs in South America.

Travel tips ↓↓↓

Address of scenic spots: No.2381 Hongqiao Road, Shanghai.

Opening hours: March 1st-October 31st: 08: 00-17: 00; 1 November-28 February: 08:00-16:30

Ticket price: Ordinary ticket: 40 yuan/person; Student ticket: 20 yuan/person; Old age ticket: 36 yuan/person

Transportation: Exit 4 of Shanghai Zoo Station on Metro Line 10.

-Huang Jincheng Road Pedestrian Street-

Gubei Huang Jincheng Road Pedestrian Street is located in the core area of Gubei, Changning, and is a municipal characteristic block. Surrounding foreign communities gather, and personalized restaurants, entertainment and living shops that are open 24 hours a day show exotic customs everywhere, providing the public with a unique open space and a safe haven away from the noise.

Ding Wang Wu Lao Guo

677 Huang Jincheng Road (near Yinzhu Road)

In Taiwan Province, Ding Wang, recommended by stars like Xiao S, Jolin Tsai and hebe, has no old pot! Super popular queuing hot pot, the whole ginseng is added to the soup base, the spicy soup base is combined with collagen beauty soup base, which is really fresh but not dry, and the ice cream tofu learned by the owner from Japan is definitely a wonderful hot pot experience.

the terrace

693 Huang Jincheng Road (near Yinzhu Road)

The terrace is a small Italian restaurant with a neighborhood style. The romantic 200-square-meter terrace restaurant and the simple cuisine produced under the guidance of the famous Italian Michelin restaurant la gallina will continue to bring surprises to diners. The newly set private box is very suitable for small parties! Especially the pizza baked with pure fruit trees is crispy outside and crisp inside, and the attractive aroma goes straight into the nasal cavity. No matter you are a herbivore or a carnivore, you can definitely get the wonderful experience of Italian family dinner here ~

Huang Jincheng Road has different beautiful scenery in different seasons. In late autumn, when ginkgo is fragrant, it has become a good place for many tourists to stop and take photos and punch in.

Address: Huang Jincheng Road, Shanghai.

Opening hours: all day

Transportation: Exit/entrance 3 of Yili Road Station of Metro Line 10.

-Shanghai Gaodaowu Department Store-

Shanghai Gaodaowu Department Store is an all-round high-end department store that covers international high-end brands, clothing, cosmetics, jewelry, household items, food and other department stores. There are many online celebrity food shops in the shopping mall, among which Qimin Market, pony Boni Workshop and Crab Pavilion are deeply loved by tourists.

Address: No.1438 Hongqiao Road, Shanghai

Opening hours: 10: 00-22: 00.

Transportation: Exit/entrance 3 of Yili Road Station of Metro Line 10.

-Cheng Shifa Art Museum-

Cheng Shifa Art Museum, which was prepared and constructed by Shanghai China Painting Academy, took nearly three years to complete, covering exhibition places, public cultural service places and multi-functional lecture halls. The art museum has six functions: collection and preservation, academic research, exhibition of works, education and promotion, cultural exchange and public service. It is not only a research and exhibition space for famous Shanghai-style artists, but also a cultural responsibility for the inheritance and development of Shanghai-style art.

Address: No.1398 Hongqiao Road, Shanghai (intersection of Hongqiao Road and Yili Road)

Opening hours: 10: 00-18: 00 (admission is closed at 17: 00). The museum is closed on Mondays and normally opens on holidays.

Transportation: Exit/entrance 3 of Yili Road Station of Metro Line 10.

-Wu Kang Road-

Wu Kang Road, located in Xuhui District, Shanghai, was originally named John Calvin Ferguson Road, named after American missionary John John Calvin Ferguson, and was built in 1907 (Guangxu thirty-three years). Wu Kang Road is known as "Celebrity Road", which condenses the modern history of Shanghai for a hundred years. There are 14 outstanding historical buildings along the road, and 37 historical buildings are preserved.

Wukang building

Bajin former residence

Hengfu style house

Cape Town Apartment

How can Wu Kang Road, which is full of European customs, be short of western food?

Pistacchio restaurant bar

1/F, No.378 Wu Kang Road

Pistacchio means pistachio, and the environment will remind people of many beautiful restaurants in Europe and America.

The restaurant focuses on northern Italian cuisine, while incorporating the cooking styles of Provence and the Mediterranean, and many creative meals are presented in an unprecedented way.

The most important thing to miss in this store is Shu Fulei. It can be said that the store must order. Order one while it is hot, with a cup of coffee, which is sweet, soft and not greasy.

Address: Wu Kang Road, Shanghai.

Opening hours: all day

Transportation: Exit 3 of Shanghai Library Station on Rail Transit Line 10.

-Xintiandi-

Strolling through a new world is like going back in time, like being in Shanghai in the 1920s and 1930s, but stepping into every building in one step is very modern and fashionable. K11, Hong Kong Plaza, Xintiandi Plaza, Zhonghai Huanyuhui, Fuxing soho…… … these well-known trend landmarks have attracted numerous famous brands at home and abroad.

For foodies, Xintiandi is also a good place to punch in! Japanese food, western food, hot pot, dessert … This is a "gathering place for food from all over the world"!

·shake shack·

No.10, Xintiandi Beili, Lane 181, Taicang Road

God-class hamburger restaurant from new york! Almost every time I go, I have to queue up! The signature beef burger that must be ordered, the beef patties are thick and tender, which have completely exploded many hamburger shops.

·green & safe·

Floor 1, No.22, Xintiandi Beili, Lane 181, Taicang Road

Super popular organic restaurant! The popularity is not lost, shake shack!

The store is full of fruits and vegetables, as well as meat from YEATION all over the world, just like visiting a huge market! Many cooking ingredients also come from their own organic farms, giving people the comfort of returning to nature!

Tao Taoju

F1 Floor, Xintiandi Beili, Lane 181, Taicang Road

Guangdong’s famous old Cantonese cuisine, Taotaoju, which started in 1880 and has a history of 139 years, is the first stop for many people to eat delicious food in Guangzhou! Now, I have saved the air ticket money and sent the century-old Cantonese cuisine directly to your mouth!

·letao Xiao Zun Yang Guo Zi Pu

Unit 103, No.159 Madang Road

This shop can be described as a "dessert myth" in Japan! According to incomplete statistics, his family’s signboard is sold every 10 seconds on average in the world! The signature double cheesecake is the originator of double cheesecake and has an unshakable hegemony in the hearts of foodies.

Address: Lane 181, Taicang Road, Shanghai

Opening hours: all day

Fare: None.

Transportation: Xintiandi Station of Rail Transit Line 10

-Chenghuang Temple-

Chenghuang Temple is one of the famous tourist attractions in Shanghai. The pavilions and pavilions in the old city, Qingshiban Road, Jiuqu Bridge, Nanxiang Steamed Bun Shop, and our restaurant, the Green Wave Gallery, are the deepest memories in the hearts of tourists. In addition to Yu Garden, Jiuqu Bridge, Huxin Pavilion and other must-see attractions, Chenghuang Temple must definitely try the delicious snacks here.

Mushroom vegetable bag

Spring breeze Songyuelou Chenghuangmiao Old School Road Bailing Road intersection

The vegetarian food package in Songyuelou is very popular. If you bite it, the fragrance of green vegetables and mushrooms will come to your nose ~

Osmanthus cake

Spring breeze Songyuelou Chenghuangmiao Old School Road Bailing Road intersection

Sweet and soft osmanthus cake, in addition to the faint taste of osmanthus, also has a faint smell of wine, as always delicious. The Green Wave Gallery is an old name of the Chenghuang Temple, and many people also come here.

Begonia cake

No.10 Wenchang Road, Hefenglou

As a traditional dessert and pastry snack in Shanghai, the method of Begonia Cake is very simple ~ sweet bean paste is filled with soft flour, and some winter melon candy is wrapped in the outer layer, and sesame seeds, pine nuts and melon seeds are scattered on the surface. When it is almost out of the oven, sprinkle with sugar and bake it again. Before taking it out, the smell of Begonia Cake has spread, which is a very warm snack.

Nanxiang Steamed

2/F, No.69, Jiujiaochang Road

How can you come to the Chenghuang Temple without eating Nanxiang steamed buns? The stuffing of Nanxiang steamed buns can also change with the seasons. Add shrimps in early summer and crab meat, crab roe and crab oil in autumn.

Ningbo Tangtuan

Ningbo Tangtuan Branch No.110 Yuyuan Road

Soft glutinous dumplings are served after careful cooking. They are round and moist and look super cute. The black sesame stuffing is sweet but not greasy!

Address: Fangbang Middle Road, Shanghai

Opening hours: 08:00-21:00

Ticket price: free of charge

Transportation: Exit 3 of Yuyuan Station of Rail Transit Line 10.

-Nanjing Road Pedestrian Street-

Nanjing Road Pedestrian Street is the earliest commercial street established after the opening of Shanghai. In 1999, Nanjing Road Pedestrian Street was officially opened after renovation, enjoying the reputation of "the first commercial street in China". The high-profile Dongtuo section of Nanjing Road Pedestrian Street also officially lights up to "open the street". The Dongtuo section starts from Henan Middle Road in the west and Zhongshan Dongyi Road in the east, with a total length of 495 meters, connecting the People’s Square business circle and the Bund business circle. As a result, citizens can go directly to the Bund through Nanjing Road Pedestrian Street.

Visitors will pass through popular landmarks such as New World City, Shanghai Shimao Plaza, New World Maruko Department Store, Nanjing Building and Peace Hotel along the way.

Nowadays, several key projects in Dongtuo block of Nanjing Road Pedestrian Street will appear one after another, with old shops upgraded and rejuvenated, and the first and trendy shops settled, which has become a new landscape of Shanghai’s business.

New World Daiwan Department Store

In addition to a number of first-time stores and trendy stores, the face of many old brands in Nanjing Road Pedestrian Street is also quite eye-catching. Taikang Food, which has a history of one hundred years, took the lead in opening a new concept optimization shop in the pedestrian street, and introduced a series of online celebrity snacks, including Liangpin Shop, Qifen Sweet, Liaoji Bang Bang Chicken, White Rabbit and Zhong Xue Gao, which injected new vitality into the neighborhood.

Address: Nanjing East Road, Shanghai

Opening hours: all day

Transportation: Nanjing East Road Station of Rail Transit Line 10.

Source: network comprehensive information

Editor: Zhang Yifan, Gao Qin

The copyright of the pictures in this article belongs to the original author.

ShangguanNo. Author: Shanghai Changning

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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