TE 202511

The whole world is getting smarter; I just want to live wisely

Main Text

Politics and Diplomacy

• The issue details how US-China rivalry in trade and technology keeps escalating: Washington rolled out a new round of chip controls, and Beijing answered with supply-chain resilience and domestic substitution.

• China is deepening cooperation with Middle Eastern and African countries, signing a string of strategic agreements in energy and infrastructure.

• On domestic governance, the issue stresses the three policy pillars of “steady growth, better livelihoods, stronger technology.”

US-China “decoupling” is like a separation where nobody moves out: they shout about breaking up, but deep down they are still thinking about chips.

Economy and Finance

• GDP growth eased slightly but held steady, while domestic demand recovered feebly and consumer confidence stayed weak.

• The property market kept grinding along the bottom, with policymakers pushing more subsidized housing into the pipeline.

• The yuan visibly fluctuated, the central bank intervened frequently, stressing “stabilize the exchange rate, protect confidence.”

• Stocks rebounded modestly under policy care, but liquidity stayed tight.

Policy support for the markets is like traditional Chinese medicine: slow to work and bitter going down, but better than no medicine at all.

Technology and Industry

• Artificial intelligence, semiconductors and new-energy vehicles remain policy priorities.

• China’s large AI models are shifting into the “industrial deployment stage,” and competition among companies is intensifying.

• EV exports hit yet another record high, but face pressure from Europe’s anti-subsidy investigations.

• Domestic chip yields and computing platforms have improved markedly, a sign that indigenous innovation is accelerating.

Domestic substitution is like switching cars: a late start, but big potential.

Society and Livelihoods

• Employment pressure persists; youth unemployment has come down, but structural contradictions remain sharp.

• Government is investing more in digitalizing healthcare, elder care and education, under the banner of “smart livelihoods.”

• Household savings are rising and the appetite to spend is falling, reflecting a pervasive sense of uncertainty.

Ordinary people can’t make money, don’t dare spend it, and feel broadly pessimistic about the future — at odds with the official narrative

The Global Order and Geopolitics

• The Russia-Ukraine war has settled into a long grind, and Europe’s energy security concerns persist.

• The Middle East is growing more complicated, with oil prices oscillating upward in the short term.

• Southeast Asian economies are clear beneficiaries of supply-chain relocation, becoming the “buffer zone” between the US and China.

The rougher the seas, the pricier the fish.

Future Trends and Outlook

• The report predicts that 2026 will be “the year of domestic-demand repair and the technology showdown.”

• It calls for stronger institutional resilience, policy continuity, and the rebuilding of social confidence.

• The external environment remains complicated, but the view is “opportunity hides in danger; stability brings hope.”

Forecasts are always full of hope; reality keeps making you more clear-eyed.

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