在外長記者會上，外長王毅談及與多國的關係，強調中方歡迎合作，會堅持公平正義，又認為必須捍衛聯合國地位。 美國政府年初軍事介入委內瑞拉，並俘虜總統馬杜羅，巴拿馬政府又強行接管長和港口營運權，引發法律訴訟。在外長記者會上，有記者問到這些事件會如何影響中方在拉丁美洲的外交布局，王毅表示，中國與拉美合作不針對第三方，亦不受第三方干擾。 外長王毅說：「拉丁美洲的資源屬於拉美人民，拉美國家走甚麼道路，要由拉美人民自己選擇，與誰交朋友，要由拉美國家自己決定。」 近期接連有歐洲領導人訪華，王毅表示，中歐關係最重要的是歐洲要樹立正確對華認知。 王毅指出：「中歐合作的事實表明，相互依賴不是風險，我們樂見歐洲的朋友們走出保護主義的『小閣樓』，來到中國市場的『健身房』。」 談及中印關係，王毅表示，兩國領袖去年在天津會面後，關係已進一步提升。 王毅說：「兩國互信合作有利於共同發展，分裂對抗無助於亞洲振興。」 王毅表示，中方持續與鄰國打擊網賭電詐，去年遣返數萬人回國，亦堅決反制針對中國企業被無理打壓。 王毅稱：「我想告訴海外的同胞們，你面前的世界亂象叢生，你身後的祖國穩如泰山。」 面對全球各地動亂，美國總統特朗普成立「和平委員會」，王毅就表示，必須堅持聯合國主導地位。 王毅指出：「儘管聯合國並不完美，但沒有聯合國，這個世界只會更加糟糕。脫離聯合國，另搞一套、另起爐灶，甚至拼湊各種小集團、小圈子，都不得人心、也不可持續。」 中國年底於深圳主辦亞太經合組織(APEC)峰會。王毅表示會積極落實亞太共同體，規劃區域互聯互通，推動數字、智能及綠色轉型。

Nico De Pasquale Photography/DigitalVision via Getty Images REITs ( VNQ ) have just suffered one of their worst five-year stretches, which has led many to believe that they're poor investments due to recency bias. But in reality, over the long run, REITs have been some of the most rewarding investments in the entire financial market. For the 20-year period ending with the pandemic-fueled market crash, REITs earned 15%-plus average annual returns, massively outperforming the broader stock market ( SPY ), tech stocks ( QQQ ), bonds, gold ( GLD ), and other asset classes: NAREIT via book "The REIT Advantage" If we extend this time period to include the two recent REIT bear markets (pandemic crash and historic surge in rates), REITs have still outperformed most asset classes over the past 51 years, earning double-digit average annual total returns: NAREIT via book "The REIT Advantage" This strong long-term performance is often surprising to investors, but it really shouldn't be. There are good reasons why REITs are such incredibly rewarding investments over the long run. Let's dissect REIT returns and review each component to better understand how they derive these strong returns for their shareholders. There are really four main components to REIT returns: Component #1: Cash Flow Yield The first component of returns is the rental income that REITs earn. This rental yield will vary depending on the property sector but will typically be in the 5-8% range. As an example, the popular net lease REIT Essential Properties Realty Trust ( EPRT ) is commonly buying convenience stores at an 8% cap rate with 15-20 year leases and no landlord responsibilities, which means that the tenant is responsible for all property expenses, including even the maintenance, property taxes, insurance, etc. Essential Properties Realty Trust But that's not exactly your cash flow yield. You still need to account for leverage and management cost. EPRT will commonly use a 40% loan-to-value when acquir...

Esteban Alejandro/iStock via Getty Images Advantage Energy ( AAVVF ) reported several records. Most of these records were due to an acquisition that enabled this company to get through some tough times. Right now, that acquisition is worth a bit less due to weak liquids pricing (before the Iran crisis began.) But the Iran crisis could quickly change that. When that is combined with some expected first-quarter natural gas pricing that has improved due to a challenging La Niña, this first quarter could turn out to be one for the ages. Fourth Quarter Earnings This company was able to take advantage of strengthening natural gas prices in some of the markets served to end up with a darn good quarter despite the AECO volatility. (Note: Advantage Energy is a Canadian company that reports using Canadian dollars unless otherwise noted.) Advantage Energy Fourth Quarter 2025, Summary Results (Advantage Energy Management Discussion And Analysis, Fourth Quarter 2025) Advantage Energy has managed to separate the liability for Entropy from itself. Those liabilities are now nonrecourse even though Entropy is consolidated into results. Furthermore, Entropy is a development stage company (essentially), whereas Advantage is an ongoing concern. The big deal is that the records broken have been accomplished in such a way as to allow the debt (that is attributed to Advantage itself) to be reduced materially in spite of weak oil prices. Adjusted funds flow went well into record territory to produce a record free cash flow for the fiscal year that shows the bank indebtedness dropping quickly. Now the first quarter could produce even more free cash flow. Last Article The last article noted that La Niña would likely help the expected strengthening of natural gas prices. That would appear to have occurred. We will know the full effect sometime during the spring when the natural gas storage levels are reported for the end of winter. Longtime readers may remember that back in the third quarter,...

美股市场正在经历一场反常的“虚假繁荣”。 3月8日，高盛销售与交易团队发布研报指出，尽管地缘政治头条新闻频出，标普500指数的波动看起来相对平稳，但市场内部的定价逻辑已发出明确警告。 高盛流动性分析专家李·科珀史密斯（Lee Coppersmith）直言不讳地指出：“恐慌信号表现出的市场压力，远比新闻标题所暗示的要沉重得多。” 恐慌信号与指数表现的“剪刀差” 从历史数据看，自1950年以来，地缘政治风险加剧通常会引发标普500约4%的周跌幅，且市场通常能在一个月内修复至震荡前水平。 此次美股指数的跌幅（-3.4%）尚在可控范围内，但问题在于“内部压力”。 高盛的“美国波动恐慌指数”（US Vol Panic Index）在周五收于9.72。这表明，虽然大盘看起来没崩，但市场对坏消息的容忍度已经降至冰点。 科珀史密斯警告称：“在相对平静的指数表象下，市场交易呈现出极高的脆弱性，一旦出现坏消息，风险敞口将迅速扩大。” 投资者：一边 加码对冲 ，一边 拒绝降仓 市场当前的防御策略体现了一种矛盾的心态：大家在买保险，但并不打算撤退。 高盛数据显示，美股已连续三周呈净卖出状态，主要动力来自对冲需求。 最显著的迹象是，美股做空类ETF的仓位单周猛增8.3%，这是自“关税解放日”以来规模最大的一次激增，也是过去五年内的第二大增量。 投资者在公司债、能源、小盘股和大型股ETF中大规模加仓空头头寸。 然而，这种对冲行为并未转化为实质性的风险暴露调整。 高盛数据显示，市场总杠杆率仅小幅降至307.4%，仍处于过去五年99%的历史极高分位；净杠杆率仅下降1个点至79.2%。这意味着，投资者仅仅是在原有仓位的外围加了层防护罩，而非真的在“去风险”。 拥挤的“AI船舱” 目前的市场领导地位极度集中，这本身就是最大的系统性风险。 高盛PB（大宗经纪）持仓数据显示，对“中长期动量因子”的净敞口已推高至基金股票仓位的55%-60%，创下多年新高。这意味着市场所有的钱都压在了同一种风格的赢家身上。 这种拥挤在上涨时是推力，但在领导力出现裂痕时就是灾难。 事实上，这种震荡已经开始体现在对冲基金的业绩中。2月27日至3月5日期间，高盛基本面多空（Fundamental L/S）组合预估下跌3.22%，创下2022年6月以来最差表现。 市场的“暴力轮动”也印证了这一点：今年以来领涨的铜矿、存储芯片和金属板...

中共中央政治局委員、外長王毅稱，將會繼續優化人員往來政策，令中國公民出境更順暢安全。有全國政協委員表示支持，稱可望便利內地公務員有更多機會到境外交流。 外長王毅表示，在「十五五」時期會積極統籌外交外事資源，為推動中國式現代化營造更有利的外部環境，包括會繼續拓展人員往來政策。 外長王毅說：「進一步釋放免簽紅利，完善各項配套服務，讓外國朋友來華旅遊生活更加舒適便捷，讓中國公民『走出去』更加順暢安全。」 有全國政協委員表示支持，指現時內地公務員或國企員工到境外或國外旅遊較為困難，認為這個情況未來可望「鬆綁」。 全國政協委員林大輝稱：「隨著國家擴大改革開放，我相信這方面會優化，令更多人，包括體制內或體制外的人士，有更多人有機會出去學習、考察及旅遊。」 中國旅遊研究院院長戴斌指出：「不單拓展我們的視野，在海外展現我們中國的形象；第二，我們希望通過更多國外旅遊目的地，搭上中國旅遊出境的這樣一個紅利，實現亞洲旅遊促進計劃，讓更多一帶一路沿線國家、全球南方國家能享受到這個出境紅利。」 外交部資料顯示，截至今年二月，可以免簽來華的國家有50個，包括35個歐洲國家及6個美洲國家等。

机构突发警告 这个周末，可能是全球金融市场近5年来最焦虑的一个周末。 昨天，又有两个中东国家被迫加入减产行列。 科威特国家石油公司宣布，受美以伊战事威胁霍尔木兹海峡船只通行安全等因素影响，遭遇 “不可抗力”，已开始削减原油产量和炼油加工量。 阿联酋阿布扎比国家石油公司也在一份声明中表示，正 “管理海上生产水平以应对存储需求”。 而在前几天，伊拉克已经因为储油罐趋于饱和而开始限产，沙特阿拉伯最大炼油厂遭无人机袭击后被迫关闭，卡塔尔全球最大液化天然气出口设施也已停工。 中东原油出口约占全球 45% ，是全球能源供应的绝对核心。如今随着一个 个 主要产油国减产，叠加霍尔木兹海峡被封锁，全球能源价格短期失控风险，正在变得越来越大。 麦格理全球能源策略师发出严厉警告： “ 霍尔木兹海峡关闭几周将引发一系列连锁反应，可能将原油价格推高至每桶 150 美元甚至更高。” 上周，国际油价录得历史罕见的最大单周涨幅 —— 纽约 原油 价格 周涨 35.63% ，创下自 1983 年有记录以来的最大周涨幅。 而这一切，可能仅仅是更大风暴的前奏。 01 以伊冲突对全球经济最直接也最致命的冲击，是切断全球能源运输生命线。 霍尔木兹海峡有多重要？ 每天约有 2000 万桶原油从这里运往全球，相当于全球海运原油总量的五分之一。 而今，高盛的监测数据显示，海峡石油流量已暴跌约 90% ，意味着日均 1800 万桶供应消失。 摩根大通大宗商品分析师在 3 月 7 日的最新报告中估算，海湾地区的供应中断规模可能从目前的约 150 万桶 / 日，在本周末升至 300 万桶 / 日，下周末超过 400 万桶 / 日；若成品油储罐容量耗尽，停产规模甚至可能逼近 600 万桶 / 日。 这个数字，是 2022 年 4 月俄罗斯产量峰值降幅的 17 倍！ 目前，海峡封锁直接引发中东产油国的连锁减产，而且危机发酵的速度远远超出了市场的预期。 摩根大通此前预测的 25 天供应缓冲期，也已彻底失效。 冲突仅爆发 6 天，伊拉克就已削减约 150 万桶 / 日的原油供应。 科威特作为出口通道完全依赖霍尔木兹海峡的国家，已宣布石油及炼油产品销售不可抗力，减产从每日 10 万桶启动，预计短期内扩大至近三倍，旗下三座合计日处理能力 140 万桶的炼厂被迫降低加工负荷，储油空间或在数日内耗尽。 阿联酋虽拥有绕开海峡的替代管道，...

The flags of Canada, France, Germany, Italy, Japan, the United Kingdom, the United States, and the European Union ahead of the Group of Seven (G-7) Leaders' Summit in Banff, Alberta, Canada, on Saturday, June 14, 2025. Bloomberg | Bloomberg | Getty Images The war in Iran will present the G7 countries with one of the most significant diplomatic tests in modern history. The group - comprising the United States, Canada, France, Germany, Italy, Japan and the United Kingdom - has come under strain during both of U.S. President Donald Trump's tenures. However, the decision by Washington and Tel Aviv to attack Iran on Feb. 28 and trigger a widespread wave of strikes across the Middle East and international military bases in the region, will test the alliance under extreme circumstances. Aftermath of an Israeli and the U.S. strike on a police station, amid the U.S.-Israel conflict with Iran, in Tehran, Iran, March 2, 2026. Majid Asgaripour | Via Reuters France, which currently holds the G7 presidency, has called an emergency meeting to address the Middle East. Finance Minister Roland Lescure said he and his counterparts, as well as G7 central bank governors, will meet over the coming days. Speaking to Franceinfo radio, he said: "I have spoken to various counterparts, in particular [U.S. Treasury Secretary] Scott Bessent ... to discuss the state of the situation, so we can assess any responses that might be needed." Diplomacy in tatters The dispute between the U.S. and Spain will be a particular source of tension. Madrid's refusal to allow the U.S. military access to its bases has led Trump to threaten to "cut off all trade with Spain", while Bessent told CNBC that "the Spanish put American lives at risk." European leaders have rallied around Spain's Prime Minister Pedro Sanchez, in a bid to protect Europe's sovereignty. However, each G7 nation is also navigating their own path through this international dispute. watch now VIDEO 19:55 19:55 Watch CNBC's full interview with T...

Switzerland voted to enshrine the availability of cash in its constitution, assenting to a push designed to guard against the demise of physical money. A government plan for the legal change has 69% backing, according to preliminary official estimates on Sunday. A similar proposal from a group called the Swiss Freedom Movement only has 47% support. That means a tie-breaker question is unlikely to be needed. Polls ahead of the plebiscite had suggested the government’s plan had more popular appeal. The vote marks a rare moment of circumspection on the nature of money that sought to take the electoral temperature rather than simply rely on consumer behavior to judge the views of citizens. Cash use for payments has rapidly declined , dropping to just 30% of transactions two years ago, from 70% less than a decade before. Even so, the Swiss are fond of their francs, and still use coins with designs dating back to the mid-19th century. During the period of negative interest rates that ended in 2022, big quantities of money were taken out of bank accounts to avoid fees, and stored in bills instead. Today, the average resident has almost $10,700 sitting at home, the biggest tally in all economies where the Bank for International Settlements collates data . In a separate vote, the Swiss look set to back ending a tax structure that disadvantages double-income couples, dubbed the “ wedding penalty .” Public broadcaster SRF projected that the reform will pass with 56% backing. Political scientist Lukas Golder from GFS Bern described the first numbers as unambiguous, providing a “clear signal.” The result is unlikely to change, Golder told SRF. A separate vote to end a tax structure that disadvantages double-income couples, dubbed the “ wedding penalty ,” looks like a close call. Final results are due later on Sunday. Switzerland’s fiscal system currently favors couples in which one partner — often the husband — earns significantly more than the other, or where only one partner w...

Investing.com — Internet stocks are potentially entering a "trough of AI disruption disillusionment," according to Bernstein analysts, who suggest the sector may be finding a valuation floor despite persistent bearish narratives. Worsening sentiment regarding massive capital expenditure and existential disruption risks has fueled a recent de-rating. Bernstein argues that GAAP P/E multiples have returned to "reasonable" levels. The report notes that while bearish arguments have historically "packed a bigger punch," the combination of solid incumbent earnings and a shift in AI lab focus toward the enterprise sector could stabilize consumer-facing internet platforms. Valuation support amid AI anxiety The strategist team at Bernstein highlights a significant disconnect between the "AI bear narratives" and the underlying financial health of major internet players. The lack of immediate investor urgency to step back into the basket, and the de-rating, has reached a point where valuations are beginning to reflect the "worst-case" scenarios of displacement. Analysts believe the market is currently overlooking the durability of incumbent earnings, which have remained resilient even as sentiment suggests a looming "it can always go lower" scenario. Leading AI labs’ focus on enterprise-grade tools, rather than direct consumer replacement, is viewed as a potential catalyst for a sentiment shift. Adoption timelines for disruptive consumer AI remain extended, but entrenched internet platforms have a window to integrate generative features without immediate loss of market share. Incumbents have an opportunity to prove their competitive moats during this transition period, potentially re-rating the sector as "disruption disillusionment" peaks. Search for a sentiment floor The report suggests that the floor is not yet firmly established, but the "internet testament" of continuous de-rating may be nearing its limit. Investors remain cautious, yet the lack of further significant downw...

格隆汇3月8日｜挪威警方：美国大使馆附近发生爆炸可能是与当前安全形势相关的蓄意袭击。我们已加强在美国大使馆周边的警力部署。我们正在研判多个假设。目前尚不清楚该爆炸案的嫌疑人，但正在寻找一名或多名潜在作案者。

The New War Portfolio: 3 Stocks Built for a High-Tech War MarketBeat

格隆汇3月8日｜上海和辉光电股份有限公司更新聆讯后资料集，意味着该公司港交所IPO通过聆讯。

You can break stock investing into two different styles: growth and value. Growth stocks have outperformed lately as the S&P 500 Growth index returned 37.9% over the last year through Nov. 22. That's about 10.9 percentage points higher than the S&P 500 Value index. Naturally, you'll want to pick a company that can sustain the momentum. Fortunately, Amazon (NASDAQ: AMZN) still has strong growth potential. That may surprise some, given how fast the company's sales have grown since its 1997 initial public offering (IPO). Annual sales went from about $148 million to $470 billion during this period. While sales likely won't grow at that breakneck pace, Amazon remains my top growth stock. Growth engine Amazon Web Services (AWS) has been growing sales at a rapid clip for some time. That seems set to continue for the foreseeable future. Growth may accelerate as companies and organizations continue rapidly adopting artificial intelligence (AI). AWS is Amazon's cloud-computing business that offers various services from its data centers. Organizations have increasingly been using data to make key decisions, and that seems set to continue as they keep using machine learning and AI. The unit's sales grew more than 19% to $27.5 billion. With the highest operating margin out of Amazon's three segments, it remains a key profit driver. AWS' operating income increased nearly 50% to $10.4 billion and accounted for 60% of Amazon's total operating profit. Since these centers require large amounts of space and energy, AWS' large size remains a competitive advantage. AWS has a market-share lead of 31%, in this fast-growing area. That's followed by Microsoft's Azure (20% share) and Alphabet's 12% share. Several smaller competitors have less than 5% of the market. Other areas Amazon's other two segments, North America and international, encompass wide-ranging businesses. These include its online and physical retail operations, subscription services like Prime, and advertising. These have be...

We’re in the heart of tax season already, and the Bipartisan Policy Center has made clear that Americans should expect larger tax refunds in 2026 than in recent years. This is likely welcome news to retirees, who have been coping with economic headwinds like inflation in the post-COVID era. Getting a little extra back from ... Filing Your Taxes? Here’s The Truth About Changes to Social Security Tax Changes

Teens are sleeping less than ever and screens aren't primarily to blame fcafotodigital/E+/Getty Images The spring time change can mean waking up a little groggy. But the situation may be worse for many teenagers who appear to be getting less sleep than ever, according to a new report in the Journal of the American Medical Association. That's concerning because adolescents really need their beauty rest. "Sleep plays a crucial role in adolescent brain development," says Tanner Bommersbach, a child and adolescent psychiatrist at the University of Wisconsin School of Medicine and Public Health. "It's important for emotional regulation in teenagers and important for their overall physical and mental health." Sponsor Message Bommersbach says that it's been clear for some time that teens are sleeping less now than they once did. But he and his colleagues wanted to know if that loss of sleep has been impacting certain groups of adolescents disproportionately. They analyzed data from almost 121,000 high school students included in the Youth Risk Behavior Survey to understand trends in insufficient sleep, defined as less than eight hours per night. The bottom line is that things have gotten worse. Roughly three out of four American adolescents across all demographics reported insufficient sleep in 2023, which is up by 8% since 2007. This trend was driven by an increase in teens getting very short sleep of five hours or less, which swelled from 15.8% to 23.0% over that same time period. In addition, they found Black students showed a greater increase in getting too little sleep compared to white students, says Bommersbach. "But in general, we were seeing large increases across the population regardless of a student's age, sex, or race and ethnicity." The rise in insufficient sleep didn't appear to depend on certain risk behaviors either. "Regardless of mental health symptoms, substance use, how many hours a day they're watching TV or they're on social media, we saw widespread ...

Palantir, AeroVironment, and Northrop Grumman are leading the charge in a new era of technology-driven defense and national security spending.

【热点导读】 全球算力中占比超8成，智能算力成为绝对主导 持续性突破，蓝箭航天220吨级液氧甲烷火箭发动机完成整机试车 比亚迪 正式推出全新的闪充技术，5分钟充好9分钟充饱 “算电”协同成为 数字经济 与新型电力系统协同发展的关键命题 美国七大科技巨头签署自主供电承诺 【主题详情】 全球算力中占比超8成，智能算力成为绝对主导 中国信通院发布《先进计算暨算力发展指数蓝皮书（2025年）》，截至2025年6月，全球计算设备算力总规模为4495 EFlops，大幅增长117%；智能算力成为绝对主导，占总算力比例达到85%。计算产业强势增长，智算市场表现亮眼，AI服务器与AI芯片市场规模实现翻倍增长。 智能算力是专门用于处理人工智能任务的高性能计算能力，支撑AI模型训练和推理计算的核心 驱动力 。《中国互联网络发展状况统计报告》显示，“十四五”期间，我国互联网坚持创新引领，以新基建为底座、新技术为引擎、新主体为支撑，构建起系统协同的发展新格局。在算力设施方面，建成万卡智算集群42个，位居全球前列，有力支撑我国人工智能产业快速发展。数据显示，截至2025年12月，我国算力互联网消费级用户规模已接近千万，公共智算服务用算量达到14.07亿卡时，智能算力的服务市场规模突破1300亿元。中国信通院预测，到2028年，中国智能算力规模将达2782EFLOPS，未来五年复合增长率超过40%。 上市公司中， 协创数据 深耕数据存储设备、AIoT终端及云平台、服务器再制造、AI智算中心及算力租赁业务等业务条线，是软硬件一体化的AI算力基础设施与服务提供商。2025年，公司接连发布五次采购公告，累计用于采购高算力服务器的额度达212亿元。 润建股份 可为客户提供一体化的AI模型及算力服务，包括算力租赁、算力建设及维护、数据治理、训练、调优、算法工具箱等，助力行业模型应用落地。 持续性突破，蓝箭航天220吨级液氧甲烷火箭发动机完成整机试车 近日，由蓝箭航天研制的220吨级液氧甲烷全流量补燃循环发动机“蓝焱”完成整机全系统长程试车，标志着我国在大推力高性能液体火箭发动机领域持续取得突破性进展。 据咨询机构统计，2023年中国火箭发动机市场规模已达87.6亿元，其中液体发动机占比约65%。在低轨卫星星座组网需求爆发式增长的推动下，预计到2025年，全国火箭发动机市场规模将突破180亿元，液体发动机...

A Nepali political party led by an ex-rapper is set for a landslide victory in the country’s first parliamentary election since Gen Z protests ousted the old leadership that has ruled the Himalayan nation for decades. The Rastriya Swatantra, or the National Independent Party (RSP), formed only four years ago, had already won 117 of 165 directly elected seats and led in eight other constituencies in the results published on Sunday morning by Nepal’s Election Commission. Other political parties and independent candidates had won 36 seats in total so far. Officials were still counting the votes on Sunday, and final results were expected later in the week. Advertisement The party’s prime ministerial candidate is rapper-turned-politician Balendra Shah, who won the 2022 Kathmandu mayoral race. He emerged as a leading figure in the 2025 uprising that ousted former Prime Minister Khadga Prasad Oli. In Nepal, voters directly elect 165 members to the House of Representatives, the lower chamber of Parliament. The remaining 110 seats in the 275-member body are allocated through a proportional representation system, under which political parties are assigned seats based on their share of the vote. On Sunday, RSP was also leading, with about 51 per cent of the 110 seats. Advertisement The relatively new RSP has unseated the two long-dominant parties: the Nepali Congress and the Communist Party of Nepal (Unified Marxist–Leninist), who have taken turns ruling the country. Local papers called the sweeping win a historic moment. “RSP set for a landslide victory,” said the popular Himalayan Times. “People’s ballot revolt; shift in political paradigm,” said Annapurna Post.

The US was an oligarchy well before Trump’s first term. Recognizing this reality is essential to building a true democracy Since Donald Trump returned to the White House, American political life has taken on a familiar rhythm. Each week brings another court ruling framed as a breaking point, another election cast as the last real one, another executive order described as the moment it all finally tips over the edge, another person murdered by a government that’s finally gone too far. Democratic party fundraising emails promise to “save the Republic”. Commentators warn that the guardrails are giving way. Anxious citizens refresh their screens, waiting for the collapse of American democracy. This state of permanent panic rests on what Sigmund Freud called an illusion: a belief embraced not because it reflects reality, but because it satisfies a psychological need. The illusion in this case is that the United States still has a democracy to lose. The more unsettling truth is that Americans are not living under threat of future democratic breakdown; we are living inside the aftermath of one that has already occurred. Eric Reinhart is a political anthropologist, psychiatrist and psychoanalyst Continue reading...

「十五五」規劃綱要草案強調提高科技自主自強。有研發晶片的科企認為，將生產線設於大灣區，在多變的地緣局勢下有一定優勢。有港區全國政協委員認為，香港在法律方面的優勢，有助業界突破技術挑戰。 人工智能(AI)趨勢下，晶片是兵家必爭之地。有科企自主研發的數據中心管理晶片，可應用在燃氣表、電表、水表等，獲本港家族辦公室及港投公司投資，去年量產交付。美國動輒限制對華晶片出口，負責人指，在地緣局勢多變不穩下，產品更具競爭力，目前主要訂單來自內地。 賦生資本管理合夥人陳英龍表示：「我們的功能和我們的性價比都比別人高，所以又便宜、又好，再加上是自主研發 ，沒有斷供應鏈的危險，其實這兩樣東西加起來，都令到我們的需求比較大。」 除了商界，政府兩年前斥資28.4億元，在元朗成立香港微電子研發院，旨在強化政產學研合作，正推動兩條中試線，目標今年投入運作。 香港微電子研發院行政總裁高騰說：「半導體技術發展速度非常快，投入非常大，MRDI(香港微電子研發院)試圖打造一個我們叫做中立公共的共享研發平台，這樣的好處是甚麼呢？就可以把很多研發成本，由各個參與合作的企業可以來分攤掉，可以大大加快一些企業的研發的效率、研發的速度，以及降低它們研發成本。」 有港區全國政協委員表示，香港應參與制定業界標準。 全國政協委員黃錦輝稱：「香港的優勢是，如果我是一個人，我有個自己發明的知識產權和晶片，我希望給人用，和希望透過這個做少少轉售生意，如果放出來隨時給人抄襲，所以香港可以利用我們的法律優勢， 和各間大學有關做晶片研究的專才，幫到這件事成事。」 他又指，香港晶片研發採用開放式代碼，有助應對外國技術掣肘的難題。

「十五五」規劃綱要草案強調提高科技自主自強。有研發晶片的科企認為，將生產線設於大灣區，在多變的地緣局勢下有一定優勢。有港區全國政協委員認為，香港在法律方面的優勢，有助業界突破技術挑戰。 人工智能(AI)趨勢下，晶片是兵家必爭之地。有科企自主研發的數據中心管理晶片，可應用在燃氣表、電表、水表等，獲本港家族辦公室及港投公司投資，去年量產交付。美國動輒限制對華晶片出口，負責人指，在地緣局勢多變不穩下，產品更具競爭力，目前主要訂單來自內地。 賦生資本管理合夥人陳英龍表示：「我們的功能和我們的性價比都比別人高，所以又便宜、又好，再加上是自主研發 ，沒有斷供應鏈的危險，其實這兩樣東西加起來，都令到我們的需求比較大。」 除了商界，政府兩年前斥資28.4億元，在元朗成立香港微電子研發院，旨在強化政產學研合作，正推動兩條中試線，目標今年投入運作。 香港微電子研發院行政總裁高騰說：「半導體技術發展速度非常快，投入非常大，MRDI(香港微電子研發院)試圖打造一個我們叫做中立公共的共享研發平台，這樣的好處是甚麼呢？就可以把很多研發成本，由各個參與合作的企業可以來分攤掉，可以大大加快一些企業的研發的效率、研發的速度，以及降低它們研發成本。」 有港區全國政協委員表示，香港應參與制定業界標準。 全國政協委員黃錦輝稱：「香港的優勢是，如果我是一個人，我有個自己發明的知識產權和晶片，我希望給人用，和希望透過這個做少少轉售生意，如果放出來隨時給人抄襲，所以香港可以利用我們的法律優勢， 和各間大學有關做晶片研究的專才，幫到這件事成事。」 他又指，香港晶片研發採用開放式代碼，有助應對外國技術掣肘的難題。

Will, 57 double quotation mark I worried that intimacy would no longer be possible in the same way and questioned what that would mean for my sense of identity and our marriage When I was diagnosed with prostate cancer a few years ago, I was offered a range of treatments – hormone therapy, chemotherapy, radiotherapy. But the truth was that nothing would be as effective as surgery. After much consideration, I decided to have a prostatectomy, which would eradicate the cancer, but came with considerable risks, including nerve damage that might result in erectile dysfunction. During the lead-up to the procedure and the weeks of recovery that followed, I worried that intimacy would no longer be possible in the same way, and questioned what that would mean for both my sense of identity and our marriage. In fact, and to my complete surprise, it’s transformed our sex life in the best possible way. Lucy and I have been together for 30 years, and while the sex between us was always great, my libido was a lot higher. The fact that I nearly always had to initiate sex became a source of mild tension but, as repressed Brits, we just muddled through. Until my surgery pushed us both to speak more plainly – about how we’d cope if I did have erectile dysfunction, and what sex meant for us as a couple. In a strange way it gave us a fresh start. double quotation mark Because I’ve got to take medication an hour before sex, we now discuss if and when it’s going to happen without anxiety A few months after I had my prostate removed, I came home one evening and found Lucy in lingerie, ready to rev me up. After initially proceeding with caution, we had some of the best sex of our marriage. Luckily, and to my intense relief, it turns out the nerve damage I have is manageable – as long as I take Viagra, I’m more than fine. We’re now having sex once a week, and perhaps the most significant thing is that we’re better communicators overall, which is a silver lining of my cancer journey. To give ...

The border between Ireland and Northern Ireland used to draw smugglers, paramilitaries, police and soldiers, but the landscape of twisting lanes and hedgerows may soon entice a new type of visitor: literary pilgrims. A plan is under way to rebrand it as Ireland’s “northern literary lands” and to create the world’s first Unesco region of literature. The initiative from Arts Over Borders, a group that organises festivals on both sides of the border, aims to create nine “literary ways” to guide travellers through 11 counties that produced or inspired writers ranging from Jonathan Swift to Samuel Beckett and Lisa McGee. “We have this constellation of extraordinary writers associated with border counties,” said Seán Doran, the group’s artistic director. “We’re revealing a map of this heritage – an unsurpassed concentration of literary greatness crammed into one small corner of Europe.” Doran hopes that rebranding a 310-mile border roiled by the Troubles and Brexit will encourage inhabitants to recognise a shared cultural heritage and draw visitors to villages and towns that are off the usual tourist trail. The nine ways, or routes, include the “Nobel way” that encompasses parts of Sligo, County Fermanagh and County Derry that are respectively associated with WB Yeats, Beckett and Seamus Heaney. The “poetic way” takes in areas of Monaghan, Tyrone and Derry that are associated with Patrick Kavanagh, Paul Muldoon, John Montague and Tom Paulin. The “Wilde romantic way” includes a walking route through Enniskillen, the Fermanagh town where Oscar Wilde attended boarding school and which he drew on for his children’s story The Happy Prince. “We’re putting this out there for people to pick and do their own journeys,” said Doran. “The nine routes crisscross and you can do each in a day. It’s a way of illuminating how to join the dots.” The initiative will incorporate forthcoming festivals such as the Beckett Biennale, which will feature the first Ulster-Scots translation of Waiti...

Thousands of international delegates are gathering in New York this week for the world’s largest meeting on women’s rights. The United Nation’s annual Commission on the Status of Women (CSW) is an opportunity for government ministers, UN officials, NGO representatives and activists to discuss the global state of gender equality and women’s empowerment. This year, there will be a strong focus on “ensuring and strengthening access to justice”. But as senior UN figures urge countries to intensify their efforts to achieve gender equality, many of the delegates will be asking whether the UN is at risk of diluting its own commitment to women and girls. The question centres on a plan to merge UN Women, the agency dedicated to gender equality and women’s empowerment, with the UN’s sexual and reproductive health agency, the UNFPA. The aim of the merger is to improve efficiency, strengthen impact, reduce duplication and create a single body for governments and partners to work with. But since it was first proposed last year as part of UN80 – an initiative to reform the entire organisation – voices expressing concern over the idea have grown louder and more urgent. Women’s rights groups and a significant number of member states fear that restructuring the two agencies at a time of multiple global crises, plummeting levels of aid and a fierce rollback of rights is a high-risk strategy. ‘Dangerous climate’ Jessica Stern, co-president of the Alliance for Diplomacy and Justice, which advocates for human rights in US foreign policy, said: “These two agencies have been working in a resource-depleted environment for a very long time; they are not perfect and not the only solutions to achieving gender equality and ensuring people have access to reproductive rights, but they are what we have now. “And in the current climate,” she added, “when there is a violent and effective backlash, anything that destabilises the scant resources we have is dangerous.” Critics of the plan argue that c...

Hong Kong and Singapore have crossed swords over their ambitions to be the world’s gold trading hub, but experts say the city holds an advantage over its Southeast Asian rival, citing its access to mainland China’s robust market. As Hong Kong pushed ahead with measures to create an ecosystem for gold trading – highlighted as recently in the government’s budget late last month – the city state had reportedly been courting global heavyweights. In response to the South China Morning Post’s queries about Singapore’s rumoured alliance with the world’s major market makers such as JP Morgan and UBS, the Monetary Authority of Singapore (MAS) did not deny the rumours and highlighted ongoing engagement with the sector. Advertisement “Since last year, MAS has been actively working with key gold market participants to look at ways to support the growth of the gold market in Singapore,” a spokesperson said. Singapore’s central bank added it would share more details on key initiatives in due course. Advertisement Commodities trading, especially gold and silver, is back in vogue, with precious metal prices shooting through the roof amid growing geopolitical uncertainty.