Xinhua News Agency, Washington, September 21st (International observation) The risk of a "hard landing" is not only aggravated by the Fed’s aggressive interest rate hike.

　　Xinhua News Agency reporter Xiong Maoling

　　On the 21st, the Federal Reserve announced that it would raise interest rates by 75 basis points, which is the third time in a row this year. The Federal Reserve reiterated its determination to fight against high inflation and was wary of the serious consequences of premature monetary easing.

On September 21st, US Federal Reserve Chairman Powell attended a press conference in Washington. Xinhua News Agency (photo by Alexander Norton)

　　The Federal Reserve has raised interest rates by 300 basis points since March this year, which has led to a significant cooling of the US real estate market, stock market turmoil and a significant slowdown in economic growth. Analysts believe that the inflation situation in the United States is still grim, and the Fed’s continued aggressive interest rate hike policy may push up the unemployment rate, aggravate the risk of "hard landing" of the economy, and bring greater risks to the world economy.

　　The path of raising interest rates is more hawkish.

　　When Federal Reserve Chairman Powell announced in June that the Fed had raised interest rates by 75 basis points for the first time in 28 years, he said that raising interest rates by 75 basis points was unusual, and it was expected that such a rate hike would not occur frequently. However, after the two-day monetary policy meeting on September 21st, the Federal Reserve announced that it would raise the target range of the federal funds rate by 75 basis points to between 3% and 3.25%, which is the third time in just a few months.

On September 21st, US Federal Reserve Chairman Powell attended a press conference in Washington. Xinhua News Agency (photo by Alexander Norton)

　　On the 21st, Powell reiterated the hawkish signal he released in late August, that is, he emphasized the determination of the Fed to reduce inflation and was wary of the serious consequences of loosening monetary policy prematurely and allowing high inflation to solidify. He stressed that if the Fed retreats from its commitment to reduce inflation, people will eventually suffer more and longer.

　　According to data from the US Department of Labor, since March this year, the US consumer price index (CPI) has increased by more than 8% year-on-year, maintaining a high level.

　　According to the latest quarterly economic forecast released by the Federal Reserve on the same day, the median forecast of the federal funds rate by Fed officials at the end of this year is 4.4%, which is significantly higher than the forecast of 3.4% in June. According to the current situation, the Fed will need to raise interest rates by about 125 basis points in the next two meetings to reach the forecast value. Officials’ median forecast for the federal funds rate at the end of next year is 4.6%, higher than the forecast of 3.8% in June.

　　Jay Bridson, chief economist of Wells Fargo Securities, said in an analysis report that the Federal Reserve further intensified its efforts to fight inflation at its September meeting. Although it raised interest rates by 75 basis points as expected, it gave a more hawkish path forecast for the short-term interest rate trend this year and next.

　　According to the Chicago Mercantile Exchange’s "Fed Watch Tool", as of the evening of 21st, the probability that traders expect the Fed to raise interest rates by 75 basis points in November exceeds 70%.

　　The economic outlook is becoming more pessimistic.

　　Some experts believe that the 75-basis-point interest rate hike by the Federal Reserve seems to be the "normal state", which may push up the unemployment rate, puncture the bubbles in the property market and the stock market, push the US economy into a "full-scale recession" and bring greater risks to the world economy.

　　Desmond Rahman, an economist at the American Enterprise Institute, told Xinhua that in order to control inflation, the Fed has continuously raised interest rates substantially, while reducing its balance sheet and recovering market liquidity at an unprecedented rate. He believes that the Fed’s monetary policy is too radical and insufficient consideration is given to the impact of policy lag, which may lead to an increase in the unemployment rate.

　　According to the quarterly economic forecast, the median forecast of the US unemployment rate by Fed officials in the fourth quarter of 2023 is 4.4%, 0.5 percentage points higher than that in June. The median forecast of the year-on-year growth rate of the gross domestic product (GDP) of Fed officials in the fourth quarter of this year is 0.2%, which is significantly lower than the forecast of 1.7% in June and 2.8% in March, reflecting their more pessimistic expectations of the US economic outlook.

　　Powell said frankly that in the process of curbing inflation and restoring price stability, it will be very challenging to achieve a relatively moderate rise in unemployment and a "soft landing" of the economy. He said that if monetary policy needs to be further tightened to a more restrictive level, or the tightening needs to last longer, the possibility of a "soft landing" will be reduced.

　　Dean Baker, a senior economist at the Center for Economic and Policy Research in the United States, believes that the Fed should pay more attention to the downside risks of further tightening policies, that is, pushing the already battered US economy into recession.

　　Jeffrey gundlach, CEO of American Double Line Capital, said in an interview with CNBC that the Fed should slow down the pace of raising interest rates because the economy is on the verge of recession. According to a recent CNBC survey, respondents believe that the possibility of a recession in the United States in the next 12 months is 52%.

　　Rahman said that the Fed’s tough monetary policy stance has made the real estate market experience serious difficulties, and also led to the bursting of the stock market and credit market bubbles, which made him worry that the US economy would soon fall into a "full-scale recession". In addition, the Fed policy has also led to a sharp appreciation of the US dollar and the return of capital from emerging markets, which has made the already very difficult world economy worse.

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　　　　CCTV.com News (news community): Go to Tongling Freshwater Dolphin National Nature Reserve to see a pair of finless porpoises. Two days ago, the little finless porpoise just had a full moon, and its mother "Little Female" also set a national record: it became the first Yangtze finless porpoise in China to grow and mature, naturally reproduce and breastfeed under the condition of artificial management and protection.

　　　　The finless porpoise "Little Female" was captured in Tongling section of the Yangtze River in February, 2003, when she was only 2 years old. After adaptive enclosure in the wild, she was put into semi-natural waters of Tongling Freshwater Dolphin National Nature Reserve for artificial breeding. On August 12th this year, "Little Female" naturally gave birth to a small finless porpoise, and since then, she has been caring for her "baby" inseparable. In order to prevent other finless porpoises from accidentally injuring the young porpoises, the "little female", who has always been quick and flexible when feeding fresh fish in the reserve, changed the past practice of competing with other finless porpoises for food, and only brought the young porpoises to eat after the other finless porpoises had eaten and left. In response to this change, the breeders in the reserve have extended the feeding time and specially equipped the "little female" with nutritional drugs to promote her postpartum recovery and breast-feeding the young dolphins. At present, the mother and son of the finless porpoise are in good health, and the length and weight of the finless porpoise have increased a lot.

　　　　Ping Jiang, director of the Natural Ecology Protection Department of Anhui Environmental Protection Bureau: The successful breeding of the finless porpoise shows that our nature reserve has basically understood and mastered the growth habits and breeding conditions of the finless porpoise in semi-natural waters.

Editor: Wang Yilin

　　Network screenshot of epicenter location

　　No casualties have been reported in the Langfang earthquake in Hebei Province, and it is unlikely that an earthquake of magnitude 5 or above will occur in the capital circle.

　　Langfang, Feb. 12 (Reporter Li Xi Song Mintao) At 18: 31 on the 12th, a 4.3-magnitude earthquake occurred in Yongqing County, Langfang City, Hebei Province. The Earthquake Administration of Hebei Province has launched a three-level earthquake emergency response, and emergency personnel and relevant experts from provincial and municipal seismological bureaus have rushed to the earthquake area to verify the earthquake disaster. Up to now, no reports of casualties have been received.

　　Network screenshot of epicenter location

　　Weibo, the official of the Seismological Bureau of Hebei Province, announced after the earthquake that the villages within 5 kilometers of the earthquake are Xinwu Village, Xiaozhan Village, Zuoyi Village, Jiaozhuang Village, Beiliuzhuang Village, Dongxiliu Village, Xixiliu Village, Beijieshang Village, Dazhan Village and Hengting Village, and the towns within 20 kilometers are Bieguzhuang Town, Hancun Town, Tiaotou Township, Qiuzhuang Township, Wharf Town and Cao.

　　It is reported that the epicenter was 15 kilometers from Anci District of Langfang, 16 kilometers from Yongqing County, 17 kilometers from Guangyang District, 33 kilometers from Gu ‘an County, 36 kilometers from Bazhou City, 19 kilometers from Langfang City and 56 kilometers from Tianjin City.

　　According to the catalogue of China Seismological Network Express, there have been 11 earthquakes of magnitude 3 or above within 200 kilometers around the epicenter in recent five years, and the largest earthquake occurred in Zhuolu County, Zhangjiakou City, Hebei Province on September 6, 2014 (150 kilometers away from this epicenter).

　　After the Yongqing earthquake in Langfang, Weibo, the official of China Seismological Network, announced that China Seismological Bureau had launched a four-level earthquake emergency response, and asked all working groups to carry out emergency response work quickly. After analysis and judgment, the earthquake may be isolated, and it is unlikely that a larger earthquake will occur in the original earthquake area. In addition, it is unlikely that an earthquake of magnitude 5 or above will occur in the capital circle. (End)

　　People’s Daily Online, Beijing, September 29 (Reporter Xu Weina) This year’s Mid-Autumn Festival and National Day happened together, forming an eight-day "Super Golden Week". Judging from the hot booking data of various platforms, under the interweaving of multiple demands such as family visits, outbound tours and Asian Games tours, the popularity of holiday travel market has been rising all the way, and the peak period of mass travel is coming.

　　According to the data of China State Railway Group Co.,Ltd., from September 13th to 23rd, the railway has sold a total of 217 million train tickets during the Mid-Autumn National Day. The Civil Aviation Administration predicts that more than 21 million passengers will travel by air during the holiday period, and it is estimated that 137,000 flights will be guaranteed, with an average daily flight of more than 17,000.

　　Recently, the Ministry of Culture and Tourism held a regular press conference in the third quarter of 2023. At the meeting, for the upcoming Mid-Autumn National Day holiday, the Ministry of Culture and Tourism focused on three tasks: enriching the supply of cultural and tourism products, improving the policy environment for high-quality industrial development, and carrying out cultural and tourism activities to benefit enterprises and people. The Ministry of Culture and Tourism will focus on improving the supply quality of cultural and tourism products during the festival, promoting the accelerated recovery of the cultural and tourism industries, and better satisfying the people’s yearning for a better life.

　　Ma Li, deputy director of the Industrial Development Department of the Ministry of Culture and Tourism, said that in the next step, the Ministry of Culture and Tourism will focus on further promoting the cultural tourism industry from the aspects of developing new formats, innovating cultural tourism scenes and improving travel experience, and continuing the good development trend of the tourism market.

　　In fact, in order to seize the "Super Golden Week" travel craze, many places across the country have also launched more innovative gameplay and promotional activities while ensuring the safety and order of the holiday travel market, and constantly cultivated new scenes of travel consumption. According to the reporter’s combing, Haikou, Guangzhou, Nanjing and other tourist hotspots have successively launched more innovative cultural tourism activities.

　　The reporter learned from the General Administration of Tourism, Culture, Radio, Film and Television of Haikou that on September 27th, the joint marketing campaign of Haikou tourist attractions was officially launched, and five major tourist routes of Haikou National Day holiday were launched, including beautiful countryside tour, eco-cultural experience tour, online celebrity punch-in tour, gourmet shop tour and leisure tour in the resort.

　　Recently, the Guangzhou Municipal Bureau of Culture, Radio, Film and Tourism issued the "Happy Golden Week to Guangzhou" Guangzhou Cultural Travel Mid-Autumn National Day Holiday Series Activity Plan, proposing that a new round of Guangzhou Cultural Travel Vouchers in 2023 will be issued on the evening of September 28, with a total amount of more than 10 million yuan, and the validity period will cover the entire National Day holiday. At the same time, Guangzhou Museum will launch a live immersive version of the game "Wearing Guangdong". On the 1,314-meter-long Pearl River from Guang Zhouta to Pazhang, the "1314 Reading Happy Road" will be held, and the Mid-Autumn Festival Lantern Festival will be held in the Pearl River Pazhang Beer Culture and Creative Art Zone.

　　The reporter learned from the Nanjing Municipal Bureau of Culture and Tourism that on the evening of September 28th, the "Night Sleeping in Jinling, Everything is New" 2023 Nanjing Night Travel Consumption Promotion and the 4th Shuiqiao Lantern Festival JaeHee Nanli kicked off, releasing more than 130 performances of Nanjing Cultural Travel in the Golden Autumn season, launching a hand-painted map of "Night Food Stall" and issuing the fifth batch of "Cultural Shop" coupons for Nanjing Cultural Travel consumption.

　　"At present, the cultural and tourism markets are recovering strongly, and local cultural and tourism departments should carefully organize and guarantee to ensure the healthy, stable and orderly holiday market." Hu Heping, Party Secretary and Minister of the Ministry of Culture and Tourism, stressed that it is necessary to enrich the supply of products and services, organize a variety of mass cultural activities, performances and broadcasting activities, enrich tourism products and innovate tourism experiences. Let the people and tourists have a happy and peaceful Mid-Autumn Festival and National Day. (Intern Zhang Sirui also contributed to this article)

At the entrance of the Training Bureau of the State Sports General Administration, there are photographers and fans gathered all the year round.

In the women’s singles final of table tennis in Paris Olympic Games, the contest between Sun Yingsha, a national table tennis player, and Chen Meng was supposed to be a pleasing match, but the audience and online fans made the match dusty.

Some people pour sewage and create yellow rumors; Some people have a conspiracy theory and approve it as a "related household"; Someone took out the "rice circle" (fan circle) and tried to prove that "my family is bigger than you, so we should win the championship" … In this regard, many netizens and even members of the "rice circle" said that Sun Yingsha and Chen Meng, both athletes who won glory for their country, why were they so trampled on?

The "rice circle culture", a youth subculture that started in the entertainment circle and was formed by idol artists and fan economy, was formed by the joint action of the times, technology and industrial development, and its positive development is conducive to cohesive social circles. However, what is worrying is that some abnormal and irrational "rice circle" idolize behaviors are also growing like a fork in the road, even challenging the legal bottom line.

Recently, the public security organs, together with relevant departments, cracked down on illegal and criminal activities in the field of sports. In this regard, the Chinese Table Tennis Association and the Chinese Gymnastics Association have issued statements in these two days to express their firm support and condemn any illegal and criminal acts.

Behind some deformed "rice circles"

Has the shadow of commercial capital melee.

Chen Caihong, a TOP10 star on the Internet, retired after two years of "standing sister" and one year of "big powder" and three years of "working in the rice circle".

"My pink artist used to be an actor who didn’t make a debut for a long time, but his business ability is very good and he has always insisted. His resilience in adversity deeply infected me." Chen Caihong said, what is important is that in recent years, this star has really become popular, and she has been inspired by it, feeling that the original efforts have really paid off. "Joining the’ rice circle’ has helped me find a sense of belonging and people with common interests and beliefs."

Indeed, in the eyes of the vast majority of "rice circle" members, "rice circle" is a normal group performance of uniting and orderly organizing fans to support stars, including sports stars. If it doesn’t go abnormal in its development, it is also a reasonable existence, even beneficial to idolize’s group rational idolize, and promotes the overall positive development.

"Today’s’ rice circle culture’ is more organized, purposeful and large-scale than the original fan economy." A public relations person who has been in business for many years said that behind them is the shadow of the melee of commercial capital. In order to protect the commercial value of artists, artists need huge and stable fan resources. "They often satisfy their fans’ desires through marketing events and get rich returns. At the same time, Huize is part of the hardest-working fan base."

Grey industrial chain:

Open the box, shoot, and stalking fan.

Behind the "rice circle culture", many industrial chains have been formed, and even a gray industrial chain is hidden.

"Information trafficking, the sale of star pictures and videos, and the demand of fans have formed a special group and super words to trade." Chen Caihong said that in the "rice circle", the hacker technology that can query the personal information of stars is called "opening the box". "In the past few years, no one dared to open the box in the" rice circle ".Since about 2023, the behavior of" opening the box "has suddenly increased, and the stars are easily threatened by privacy."

At one end of the gray industrial chain are personal information and private photos of stars sold as "commodities", while at the other end, there are buyers mainly from "stalking fan" and "Daipai" groups.

The source of star photos and videos is mostly through "taking pictures". "Daipai doesn’t follow the order like fans. In order to make money, it will collide with the artist’s face shooting, which will trigger the resentment of the’ rice circle’." Chen Caihong said that, paradoxically, artists need photo exposure to maintain their popularity, so it is a state of mutual use.

The "illegitimate" behavior is mainly manifested in the excessive invasion and harassment of the private lives of stars. Chen Caihong said that in the "rice circle", "illegitimate students" will definitely be expelled from the school and will not be recognized. Their extreme behaviors include following and filming the itinerary that has not been officially released, squatting in the downstairs of the star’s house or in the hotel room.

In the "rice circle", there is a saying: No money, no idolize. The money that fans spend on idols is likely to end up in the pocket of "powder head". In recent years, news such as "powder head" corruption and running away with money have often been exposed. Huang Honglian said that the fan group lacks the supervision of professionals in the crowdfunding process, and it is likely that the person in charge will run away with fund-raising, which is illegal possession and may involve fraud crimes.

How to make the sports circle

Not attacked by deformed "rice circles"?

Duan Li, an associate professor at the School of Language and Culture in China, Guangdong University of Foreign Studies, said that the deformed "rice circle culture" includes compulsory tasks, including fame and profit, ranking, hot search, purchase, cash support, etc. Through operation, it forms an artificial, false, unitary and antagonistic star popularity ranking, and a logically distorted "idol-fan" relationship. "The distortion is that it starts from spontaneous production and creativity.

"Fortunately, competitive sports has a special training and selection mechanism. At present, there is not much room for the possibility of interfering with training, selection and events." However, Duan Li also said that competitive sports is a national project, and it also needs to take into account social demands, social evaluation, social effects, and the possible commercial value of athletes in the later period. "Therefore, from the perspective of national governance, it is necessary to sort out the logical mechanism of’ rice circles’, actively explore the comprehensive value of athletes as role models, idols, and benign interactions with audiences and fans, and actively and effectively guide the polarization of irrational preferences, especially to deal with various commercialization.

　　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.

　　△ 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.

　　△ 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.

　　△ 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.

　　△ 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.

　　△ 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.

　　△ 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.

　　△ 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.

　　△ 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."

　　△ Screenshot of Eduardo Porter’s review article reprinted on 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.

　　△ 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.

　　△ 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. "

　　△ 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.

　　△ 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

Text | AUTO Core Ball

Author | DynaSky

Can’t you fix Yu Chengdong now?

You see his video

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Has very low wind resistance

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There are also super smart drivers and smart cockpits)

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192 harness lidar

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The pictures in this article are all from the Internet

Focusing on smart cars to assist in key decisions.

important news

1. The US-led consortium bought the Saudi Aramco oil pipeline with US$ 12.4 billion, and China and the United Arab Emirates participated.

China’s Silk Road Fund and the Hassana Investment Company controlled by the Saudi Arabian government set up a consortium to invest 12.4 billion US dollars in the Saudi Aramco oil pipeline. According to an e-mail statement, the consortium, led by American company EIG Global Energy Partners LLC, has completed the acquisition of 49% equity of Saudi Aramco Oil Pipeline Company. Other members of the consortium include Abu Dhabi sovereign wealth fund Mu Badala Investment Company and Samsung Asset Management Company. Abu Dhabi is the capital of the United Arab Emirates, and together with Saudi Arabia, it is a major member of the Organization of Petroleum Exporting Countries.

It is reported that this is the biggest transaction of Saudi Aramco since its record $29.4 billion initial public offering at the end of 2019. (Bloomberg)

2. Call a number of banks to adjust the deposit interest rate, and lower the interest rate for more than one year or as a whole.

It is reported that a number of banks have recently issued a notice to branches to adjust the authorized management of deposit interest rates. The self-discipline mechanism of market interest rate pricing has adjusted the quotation method of RMB deposit preferential interest rate. After the change of quotation method, the interest rate of deposits below one year has increased, while the one-year interest rate level has remained unchanged, and most deposit products above one year have to be lowered. It is understood that the bank’s large deposit certificates were suddenly snapped up on weekends. According to the analysis, as the interest rate curve of deposit products goes down, the yield of money funds and cash products may be affected to some extent. (Broker China)

3. Gree pushes the largest employee stock ownership plan in history: 12,000 people can buy stocks at a 50% discount.

On the evening of June 20th, Gree Electric announced the first phase of the employee stock ownership plan (draft). The total number of employees to participate in this employee stock ownership plan shall not exceed 12,000. The capital scale of the employee stock ownership plan shall not exceed 3 billion yuan. The employee stock ownership plan plans to buy the company’s repurchased shares at 27.68 yuan/share, and the purchase price is equal to 50% of the company’s recent average price of repurchased shares, which is 51% lower than the closing price of shares on Friday. Participants include Dong Jiangao and others. (China Fund News)

4. The first batch of 9 publicly offered REITs went public today, with the price limit of 30%.

The first batch of publicly-offered REITs sought after by 31.4 billion yuan will be officially listed on June 21st, and the market will pay attention to its ups and downs on the first day of listing, market activity and discount premium rate. According to the announcement of the first batch of public offering REITs, this kind of products set the price increase and decrease of 30% on the first day of listing and 10% on the first day of non-listing. However, due to the good quality, reasonable valuation and stable income expectation of the first batch of products, they were sought after by funds during the product issuance period. Many institutions and investors believe that there may be a high premium on the first day of listing, and investors are advised to pay more attention to the long-term investment value of products. (gelonghui)

5. Bitcoin fund holdings hit a four-month low.

According to CoinDesk, bitcoin fund holdings hit a four-month low. ByteTree data shows that on Friday, the holdings of closed-end funds in the United States and Canada and exchange-traded funds (ETFs) in Canada and Europe fell to 782,558 pieces (worth about $28.72 billion), the lowest level since February 25. In the past three days alone, the holdings have decreased by more than 15,000 pieces. (gelonghui)

6. Shanghai Lingang (600848, Guba) New Area Daohe Asset Allocation Fund was established, with an initial scale of 30 billion yuan.

Last week, the Daohe Asset Allocation Fund in Shanghai Lingang New Area was formally established, with the initial scale of 30 billion yuan. It was jointly initiated by the Management Committee of Lingang New Area of Shanghai Free Trade Zone and Shanghai Daohe Long-term Investment Management Co., Ltd., and mainly invested in integrated circuits, biomedicine, high-end manufacturing, artificial intelligence and other fields in Lingang New Area and the Yangtze River Delta region. (The Paper)

7. The domestic cement market demand continues to weaken, and the national average cement price continues to fall.

In mid-June, affected by multiple factors such as high temperature, rain and senior high school entrance examination, the domestic cement market demand continued to weaken, and the national average cement price continued to fall. The northern market is stable and small, while the southern market is generally down. The main areas of price reduction are still concentrated in East China and Central South China. Among them, Zhejiang, Guangdong, Shaanxi and other provinces lowered the cement price by 50 yuan/ton. (Securities Times)

A shares

1. Contemporary Amperex Technology Co., Limited (300750, stock bar) denied forcing employees to buy Tesla: there was no quality problem and there was no forced purchase.

A few days ago, it was reported on the Internet that since March, Contemporary Amperex Technology Co., Limited has ordered managers to purchase Model 3, and claimed that Tesla returned these models to Contemporary Amperex Technology Co., Limited because of battery problems. In this regard, the relevant person in charge of Contemporary Amperex Technology Co., Limited said in response, "About employees buying Tesla, the company encourages employees to buy electric vehicles at preferential prices in order to promote full electrification, not limited to Tesla, including most of the brands we supply." The person in charge also stressed that "(these cars) have no quality problems and there is no compulsory purchase." (Beijing News)

2. This week, the flood of 100 billion yuan will be lifted, and the market value of brokerage stocks exceeding 70 billion yuan will be lifted.

This week, 44 shares will be lifted. According to the latest closing price, the total market value of lifting the ban is 110.191 billion yuan. Among the 44 shares, CITIC Jiantou has the largest market value of lifting the ban, and 2.386 billion shares will be listed and circulated next week, mainly due to the initial offering of shares restricted by the original shareholders, with the market value of lifting the ban as high as 73.705 billion yuan. Ruike Laser (300747, Share Bar) has a market value of 9.767 billion yuan, which is close to 10 billion yuan. The released shares are restricted shares of the original shareholders. Judging from the proportion of the number of shares released from the ban to the total share capital, Lianying Laser, Ruike Laser, CITIC Jiantou and Zeda Yisheng are among the top. (gelonghui)

3. Nearly 80% of the banking stocks are facing the trend of breaking the net market.

Last week, the CSRC officially issued the IPO approval of Shanghai Rural Commercial Bank, which will become the 41st A-share listed bank and the 10th A-share listed rural commercial bank. Since the beginning of this year, the bank’s IPO has been accelerating. Qilu Bank officially landed on the Shanghai Stock Exchange on June 18, and Ruifeng Bank has also completed the issuance of new shares and entered the waiting list. It is worth noting that the overall differentiation of the banking sector is prominent. While the overall index of the banking industry outperforms the Shanghai and Shenzhen 300, 40% of the bank shares have fallen below the issue price. As of June 18th, among the 39 listed banks, 31 banks have a P/B ratio of less than 1 (that is, "breaking the net"), accounting for nearly 80%, 16 banks’ share prices have fallen below the issue price, and 7 banks’ current share prices have been discounted by more than 30% relative to the issue price. (Futu Niu Niu)

4. The Securities Regulatory Commission revised and issued the "Regulations on Prohibition of Securities Market", which will be implemented on July 19th.

The new regulations divide market entry into "identity entry" and "transaction entry". If the information disclosure is seriously illegal and causes adverse effects, it will be included in the situation that the identity class is banned from entering the market for life; The ban on trading markets is applicable to illegal acts that affect the order or fairness of securities trading in violation of regulations and have serious circumstances. The duration of the ban on trading shall not exceed 5 years.

5. Zhongxing Fungus Industry (002772, Share Bar) of Flammulina velutipes Company plans to purchase 100% equity of Shengjiao Wine Industry.

On the evening of June 20th, Zhongxing Fungus Industry announced that in order to promote the development of the company’s dual main businesses and thus increase new profit growth points, the company planned to acquire 100% equity of Guizhou Maotai (600519, Guba) Zhenshengjiao Liquor Co., Ltd. (hereinafter referred to as "Shengjiao Liquor Industry") in cash.

6. The dividend is 24.236 billion yuan, and Kweichow Moutai (600519) plans to distribute cash of 19.293 yuan per share.

Kweichow Moutai issued an announcement on the implementation of equity distribution in 2020, and it is planned to distribute a cash dividend of 192.93 yuan (including tax) for every 10 shares, with date of record on June 24th, ex-dividend date on June 25th and cash dividend distribution date on June 25th. (Oriental Fortune (300059, Guba) Network)

7. TCL Technology announced the repurchase of the company’s shares, with an estimated total amount of 600-700 million yuan.

TCL Technology announced that it will buy back the company’s shares in a centralized bidding transaction, and the total amount of repurchase is expected to be 600-700 million yuan. The repurchased shares will be used for employee stock ownership plans or equity incentives. According to the official introduction, through the current employee stock ownership plan, TCL Technology will establish a salary incentive system based on equity redemption.

Hong Kong/US stocks

1. The former president of Tesla has sold shares worth $274 million since June 10th.

According to a document submitted to the US Securities and Exchange Commission (SEC), Tesla executive and president Jerome? Jerome Guillen left his job on June 3rd this year. Since June 10th, he has sold about $274 million worth of stock after exercising stock options. (Snowball)

2. Decide to develop its own chip architecture. It is reported that Samsung is trying to hire former engineers from Apple and AMD.

Clien.net, a South Korean forum, reported that Samsung is in talks with former architecture engineers from Apple and AMD, with the ultimate goal of finalizing Samsung’s own customized chip architecture. It is reported that Samsung is talking with a former engineer who directed the development of Apple’s chip architecture. In addition, the whistleblower also said that the engineer asked to control the whole project and team, but did not disclose any other information or specific names. (IT house)

3. Naixue Tea Hong Kong IPO Win Exhibition temporarily recorded HK$ 81.5 billion, oversubscribed by 158 times.

Naixue’s tea IPO in Hong Kong was launched on Friday (18th). According to the data of several brokers, Naixue’s tea fair temporarily recorded HK$ 81.5 billion, which was oversubscribed by 158 times. Among them, Futu lent HK$ 19.37 billion, Yaocai lent HK$ 16.9 billion and Huili lent HK$ 13.3 billion. (Hong Kong Economic Times)

4. Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor: The market value of mainland enterprises listed in Hong Kong accounts for 80% of the total market value of Hong Kong stocks.

Carrie Lam Cheng Yuet-ngor said that at present, more than half of the companies listed on the Hong Kong Stock Exchange are mainland enterprises, accounting for about 80% of the total market value of the Hong Kong stock market. With the rapid development of emerging and innovative industries in recent years, the Hong Kong Stock Exchange has implemented a new listing system. So far, 50 emerging and innovative industry companies have been listed in Hong Kong according to this system, and the total amount of funds raised has exceeded HK$ 510 billion. (Sohu)

IPO

1. Peron Precision plans to do an IPO on the Growth Enterprise Market, and more than 90% of the shares are held by the family of the actual controller.

According to the official website of Shenzhen Stock Exchange, the IPO of Growth Enterprise Market of Bellon Precision Technology Co., Ltd. has been accepted. According to the prospectus, more than 90% of the equity of Bellon Precision is in the hands of the actual controllers Yang Jiong, Wang Yangyang and their relatives, and it has a strong family-owned enterprise label. In addition, from 2018 to 2020, the concentration of Bellon precision customers has increased year by year, of which more than 60% of revenue depends on the largest customer, Shunyu Optics.

2. Ruineng’s IPO failed. During the year, 111 companies withdrew their orders.

According to the latest news from the Shanghai Stock Exchange, the IPO of science and technology innovation board, a semi-conductor of Ruineng, has been terminated. According to the Shanghai Stock Exchange, due to the semi-director’s withdrawal of the application for listing or the sponsor’s withdrawal of sponsorship, it was decided to terminate its listing review according to Article 67 (2) of the Audit Rules. According to Wind’s statistics, as of June 20th, the number of companies that withdrew their orders during the year has exceeded 100, reaching 111, among which the GEM has the largest number of companies, with 62 companies, accounting for 55.86% of all companies that withdrew their orders. (beijing business today)

　　The long summer vacation is coming to an end, and many parents are relieved. "It’s finally liberated!" For them, the experience of fighting with "Xiong Haizi" during the holiday is no easier than going to work.

　　According to psychologists, every holiday is a period of high incidence of parent-child conflicts. In fact, this is an important part of education. As parents, we should know how to seize the opportunity and guide the situation.

　　Children are not sensible.

　　Parents lack the awareness of cultivating social people.

　　Wen Fang, director of the Beijing Psychological Counseling Center for Primary and Secondary Schools, said that during the non-holiday period, parents are busy at work and children are busy at school, and there is not much time for contact and communication with each other. During the holidays, many parents will take a special leave of absence in order to spend time with their children and enjoy a harmonious parent-child time. However, this intimate contact has made parents discover many unsatisfactory places in their children. Many parents who come to the counseling center for help have a headache for their children’s hospitality.

　　Some parents confide that they don’t know why their children are so ignorant. When guests come, things at home don’t make people move at all. Even because I moved my own things, I directly beat out the children brought by the other party. Other parents ask for help. When a guest comes to the house, the child hides in the room and is unwilling to communicate with others. Both parents doubt whether the child has depression.

　　Wen Fang said that parents who have this kind of trouble should first cultivate their children’s sense of ownership, so that they can feel that they are the masters of the family and have a certain sense of responsibility. "With the sense of ownership, he can give some attention to people who come home. Otherwise, the child will think that the person who came is looking for my father to find my mother, which has nothing to do with me. " In addition, with the sense of ownership, there will be a certain sense of "sharing" and "sacrifice". "I am the master of the family and have to take care of the guests."

　　On this basis, parents should also pay attention to instilling in their children the awareness and habits of being civilized and polite in peacetime. "Adults should be taught manners such as how to address when they come and how to say goodbye when they leave." In Wen Fang’s view, this is actually an important educational link for children to develop from natural persons to social persons.

　　At the same time, after receiving the guests, parents should give timely summary guidance: how did they just perform and what can be improved … … "Point out the problem must be timely, because children are emotional. Why did you do this at that time? Children remember it best. In a few days, it is no longer educational to turn over the old accounts when the children forget. "

　　It’s not just parents who are upset. Many children also feel very headache about getting along with their parents day and night. "What I want to buy and what I want to do is not free at all, and my parents have to intervene in everything." Wen Fang said that this actually reflects a common problem. Parents take more care of their children and have less development training. In the process of consultation, it is found that many parents often regard their children as a caring object, rather than a member of the family. "To put it more seriously, it is to regard the child as a very fragile treasure and put it at home to look after it. However, the child is ungrateful. Because looking after it, there is bound to be no freedom, and the child is of course unhappy. "

　　Wen Fang introduced that in this case, many parents are prone to autocracy. "Everything is arranged by me, and everything is my final say." In this way, the child’s emotional changes will not be taken into account. "Now children have a strong sense of independence. When parents are authoritarian, they will resist and contradictions will come out."

　　In Wen Fang’s view, during the holidays, parents should not only take care of their children’s food and drink needs as natural persons, but also have certain training and guidance to help them integrate into society and family, play their role at home, enhance their family awareness and promote their further transformation into social people.

　　Children don’t want to go to school.

　　Parents help their children find their sense of being students.

　　With the approach of school, the problem of "school phobia" began to emerge. "It’s time to start school. Many children are afraid to go to school because they haven’t finished their homework or because they have a bad relationship with teachers and classmates." Wen also came into contact with some exaggerated cases. A second-grade child couldn’t hear the word "start school" at home, and he trembled when he heard it.

　　In contrast, there are children who are extremely looking forward to the start of school. Before the start of school, they are eager to contact their classmates. Parents who came to ask for help reported that they often couldn’t find their mobile phones at night, only to find that they were secretly taken to bed by their children and chatted with their classmates on WeChat overnight.

　　In this regard, Wen Fang suggested that the most important thing for parents at this time is to help their children find the feeling of being a student. In terms of work and rest, try to be close to the school, for example, arrange a certain time every day, let the children concentrate on reading and writing homework, and collect their hearts properly. In addition, we should also pay attention to regulating children’s emotions, especially for freshmen, junior high school students and senior high school students who want to enter the new collective. Parents should pay special attention to children’s emotional counseling and guide them to prepare and connect in advance.

　　During this time, parents can also let their children’s emotions have an appropriate catharsis. For example, let their children find good friends to meet and chat before the start of school. "This way, it will not be too exciting for old friends to meet each other. At that time, the enthusiasm is too much, and you may not be interested in listening in class. " With catharsis in advance, when the school starts, you can smoothly transition to the normal class.

　　Wen Fang believes that in the remaining half a month or so, parents should also guide their children to make up for the lesson of family, so that children can feel their sense of responsibility at home.

　　Children’s psychological rebellion

　　Parents learn to use "other children" skillfully.

　　Many parents report that their children seem to be particularly rebellious during the holidays. Liu Weibing, an associate professor in the Department of Youth Work of China Youth University for Politics, pointed out that treason is actually a kind of resistance and doubt when he was a guest in Beijing City Radio "Face to Face Education". Generally speaking, children begin to enter adolescence at the age of twelve or thirteen, but in fact, at the age of seven to nine, children’s sense of independence begins to sprout, and they begin to disagree with the rules formulated by adults. "What do parents sometimes think of underage children? In fact, I think that sometimes parents and teachers must listen to children’s reasonable ideas and grow up with them to avoid adult preconceptions. "

　　Song Shaowei, an expert in adolescent psychology and deputy director of Tsinghua University Happiness Science and Technology Laboratory, said that the main reason for children’s rebellion was that they suddenly discovered that one day their parents were not as authoritative and tall as they thought when they were young, so they began to complain about their parents. At this time, it is particularly important for parents not to turn themselves into invincible parents who are always right, but to admit and accept what they have done wrong. As children grow older, we should give them the right to speak, solicit their opinions when making decisions, and pay attention to their inner demands.

　　In Song Shaowei’s view, two kinds of family environment tend to make children’s rebellion stronger: one is a family that is too indulgent and dotes on children in the process of raising. The children in this family are overindulged since childhood, all kinds of needs are fully met, there are basically no rules at home, and there are many problems in school. Children are completely deformed at home and difficult to control at school. The second category is over-educated families, especially those whose parents are engaged in certain occupations, which are the hardest hit areas. For example, parents who work in the fields of justice, accounting and education are prone to problems. Influenced by their careers, these parents often can’t rub sand in their eyes when disciplining their children. "Let’s talk about teachers, because I have seen too many good children, and it is easy to find problems when I see my own children, which leads to strict discipline." Song Shaowei said that it is impossible to discipline children too loosely or too strictly, and moderation is the key.

　　Then, compared with other stages, what are the priorities of education for rebellious and adolescent children? Liu Weibing said that in the face of children at this stage, parents should be positively motivated. What is positive motivation? He cited the movie Looking Up as an example. In the movie, Ma Fei’s test scores were from the bottom to the bottom, and his father said, "It’s very good, it’s improved, and it ranks two places ahead." "This is positive motivation. People are moving forward step by step, and it is impossible to fly in one step, so parents should gradually open their children’s potential. " Liu Weibing told reporters.

　　Song Shaowei suggested using "other people’s children" skillfully. "Now, many parents often use ‘ Other people’s children ’ Suppressing one’s own children not only fails to achieve the purpose of education, but also causes children’s rebellion. Actually, ‘ Other people’s children ’ It can be an external force to promote children’s progress. The key is what parents say. " He introduced that if "other people’s children" are better than their own children, they can say, "Yes, you are doing better and better now, and you will soon surpass someone." If "other people’s children" are not as good as their own children, you can say, "You are much better than others now, but keep it up." This way to communicate with children, on the one hand, children will see their own advantages and have more confidence in themselves; On the other hand, we will also see the gap between ourselves and excellent "others", so that we can not only agree with ourselves now, but also have the courage to work hard for ourselves better.

　　Song Shaowei believes that children’s "rebellion" does not disappear naturally with age. Only when children realize that their parents’ love for them is sincere and everything they do is for their own good, will this emotion gradually weaken. At the same time, when children see that their parents are no longer the strong ones who control everything from high above, but the "weak ones" who need to be loved, the "rebellion" of their parents in their hearts will really disappear. (Reporter Niu Weikun Photo courtesy of Xinhua News Agency)