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一周精选:展望2026:外需是最大变数

TIER 4   Sat, 13 Dec 2025 11:09:00 +0800

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2025年12月13日  
   
|   |  | 一周精选  
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[展望2026:外需是最大变数](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzEjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM3MD90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
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[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzEjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM3MD90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
   
  
[展望2026:外需是最大变数](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzEjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM3MD90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13)

胡伟俊:中国经济运行模式转变,往往由外需的重大变化触发。本世纪全球经济曾经历过三次大变化,金融市场最核心的变量就是中国经济的运行模式。  
   
  
   
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[套息交易迎来“终章前夜”:日本利率异常波动引爆全球再平衡](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzIjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM5NT90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
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[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzIjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM5NT90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
   
  
[套息交易迎来“终章前夜”:日本利率异常波动引爆全球再平衡](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzIjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM5NT90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13)

程智鹏:全球市场正处在新旧格局的临界线上,而日本长端利率的剧烈波动,也许只是序幕。  
   
  
   
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[当AI掌握了“平均”创造力,教育如何突围?](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzMjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM5Nj90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
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[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzMjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM5Nj90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
   
  
[当AI掌握了“平均”创造力,教育如何突围?](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzMjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM5Nj90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13)

王大维:在 AI 时代,最重要的是保护好奇心、培养兴趣,未来的赢家,是懂得站在 AI 的肩膀上望得更远、问得更深、创造得更不一样的人。  
   
  
   
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[人工智能带来新的反垄断难题](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzQjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM4OT90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
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[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzQjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM4OT90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
   
  
[人工智能带来新的反垄断难题](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzQjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM4OT90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13)

苏斯曼:2010年代的美国政府为社交网络的整合喝彩,监管机构迟迟未能直面这种整合给竞争带来的危险。这应该给AI时代敲响警钟。  
   
  
   
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[为什么应该警惕稳定币?](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzUjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODQyMD90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13)  高端专享 |    
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[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzUjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODQyMD90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
   
  
[为什么应该警惕稳定币?](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzUjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODQyMD90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13)  高端专享

沃尔夫:目前美国的领导者迷恋“大科技”的口号——“快速行动,颠覆现状”。在货币领域,这可能导致灾难。  
   
  
   
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[被低估的以太坊Fusaka升级:扩容、降费、从通胀到通缩](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzYjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM4Nj90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
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[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzYjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM4Nj90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
   
  
[被低估的以太坊Fusaka升级:扩容、降费、从通胀到通缩](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzYjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM4Nj90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13)

翁晓奇:Fusaka带来的战略价值远高于目前的市场定价,值得所有机构重新审视以太坊生态的长期投资价值。  
   
  
   
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[“这个世界会好吗?”——中美竞争下的秩序重组](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzcjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM3NT90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
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[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzcjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM3NT90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
   
  
[“这个世界会好吗?”——中美竞争下的秩序重组](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzcjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM3NT90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13)

吴湘宁:今天的中美,如同历史峡湾中的巨轮,各自承载着不同的记忆与对未来的畅想,进行着一场关于“世界应向何处去”的巨型对话。  
   
  
   
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[新版美国战略报告的中国叙事:雄心有余,能力或不足](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzgjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM5Mj90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
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[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzgjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM5Mj90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
   
  
[新版美国战略报告的中国叙事:雄心有余,能力或不足](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzgjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM5Mj90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13)

邓聿文:试图打造一个长期遏制中国的战略体系,但同时也承认美国正在面临全球战略收缩、国内分裂、财政压力和盟友疑虑。  
   
  
   
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[特朗普时代的美欧“文明冲突”](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzkjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM4Nz90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
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[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzkjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM4Nz90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13) |    
   
  
[特朗普时代的美欧“文明冲突”](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzkjaHR0cHM6Ly9kdmJnd2s5dWg2YWdpLmNsb3VkZnJvbnQubmV0L3N0b3J5LzAwMTEwODM4Nz90b2tlbj03MjY3NDAxZmE1ZjM0ODIxMGRiZjNlOTQwMDcxODc0YiZzPXcjcz13)

拉赫曼:新版美国《国家安全战略》试图从文明的高度重新定义国家安全,提出大规模移民是比俄罗斯更大的威胁,进而施压欧洲认同这一点。  
   
  
   
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[如何看待黄金投资逻辑?](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzEwI2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9zdG9yeS8wMDExMDgzNzM/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==) |    
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[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzEwI2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9zdG9yeS8wMDExMDgzNzM/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==) |    
   
  
[如何看待黄金投资逻辑?](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzEwI2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9zdG9yeS8wMDExMDgzNzM/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)

加密货币大幅下挫,黄金的一枝独秀更显得难能可贵;对于机构投资者而言,增加黄金在投资组合中的比重,几乎是一个必然的选择。  
   
  
FT商学院  
   
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[投资者为何对甲骨文的AI押注信心不足?](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzExI2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDMwNzA/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  高端专享 |    
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[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzExI2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDMwNzA/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==) |    
   
  
[投资者为何对甲骨文的AI押注信心不足?](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzExI2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDMwNzA/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  高端专享

这家数据库公司的股价看起来像是一种赌博:押注OpenAI能兑现其长期承诺的杠杆型投资。  
   
  
   
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[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzEyI2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDMwNzM/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==) |    
   
  
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太空探索技术公司、OpenAI和Anthropic将开辟新天地——他们的亏损规模也可能同样“开天辟地”。  
   
  
   
---  
[约翰迪尔警告:唐纳德•特朗普的关税加剧了美国农民的压力](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzEzI2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDI4NjA/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  会员专享 |    
---  
[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzEzI2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDI4NjA/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==) |    
   
  
[约翰迪尔警告:唐纳德•特朗普的关税加剧了美国农民的压力](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzEzI2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDI4NjA/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  会员专享

这家农业装备巨头正在缩减其位于艾奥瓦州的旗舰拖拉机工厂的产量。  
   
  
   
---  
[“为生存而战”:福特联手雷诺对抗中国对手](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE0I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDI2ODI/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  会员专享 |    
---  
[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE0I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDI2ODI/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==) |    
   
  
[“为生存而战”:福特联手雷诺对抗中国对手](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE0I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDI2ODI/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  会员专享

为在中国竞争对手迅速崛起中生存,车企正寻求压低成本并加快小型车型的开发速度。  
   
  
   
---  
[为什么我们需要更多地了解金钱](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE1I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDMxNDk/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  高端专享 |    
---  
[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE1I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDMxNDk/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==) |    
   
  
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在许多国家,金融素养低下,储蓄被放在低回报的产品中,拖慢了整个经济。  
   
  
   
---  
[英国石油与壳牌的“绿色转型”是如何失败的?](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE2I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDI5OTc/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  高端专享 |    
---  
[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE2I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDI5OTc/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==) |    
   
  
[英国石油与壳牌的“绿色转型”是如何失败的?](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE2I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDI5OTc/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  高端专享

能源巨头试图转型,却最终大幅缩减计划并冲销数十亿美元。  
   
  
   
---  
[俄罗斯的混合战争正在考验欧洲](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE3I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDI2NjI/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  会员专享 |    
---  
[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE3I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDI2NjI/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==) |    
   
  
[俄罗斯的混合战争正在考验欧洲](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE3I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDI2NjI/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  会员专享

官员怀疑,一度看似趁机而为的破坏行动,可能已演变为战略性升级。  
   
  
   
---  
[印尼会再次滑入威权统治吗?](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE4I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDI1Mjc/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  会员专享 |    
---  
[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE4I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDI1Mjc/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==) |    
   
  
[印尼会再次滑入威权统治吗?](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE4I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDI1Mjc/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  会员专享

总统普拉博沃•苏比延多集权并与军方建立紧密关系,引发对专制化蔓延的担忧。  
   
  
   
---  
[英国经济远没有你听说的那么糟](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE5I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDMxNzY/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  会员专享 |    
---  
[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE5I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDMxNzY/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==) |    
   
  
[英国经济远没有你听说的那么糟](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzE5I2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDMxNzY/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  会员专享

英国国民报告中存在巨大的悲观偏差,把我们引向“末日阴霾”,而事实证明这不过是一派胡言。  
   
  
   
---  
[Lex专栏:欧莱雅入股同行或许物有所值](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzIwI2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDMxMzc/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  高端专享 |    
---  
[ ](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzIwI2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDMxMzc/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==) |    
   
  
[Lex专栏:欧莱雅入股同行或许物有所值](http://newsletters.ftimg.online/u.html?stime=1765595400&uid=ft_news&eid=4152123&email=registered2nd@gmail.com&tlid=15954&stid=212816&thid=15954&url=IzIwI2h0dHBzOi8vZHZiZ3drOXVoNmFnaS5jbG91ZGZyb250Lm5ldC9pbnRlcmFjdGl2ZS8yNDMxMzc/dG9rZW49NzI2NzQwMWZhNWYzNDgyMTBkYmYzZTk0MDA3MTg3NGImcz13I3M9dw==)  高端专享

而对目标公司、瑞士护肤企业高德美的股东而言,最理想的情况是,这家法国集团的增持只是全面收购的前奏。  
   
  
   
   
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