中國企業據報通知日本企業，停止新簽稀土合同，亦可能會終止現有的合約。 日本共同社報道，銷售稀土的中國國企通知日本企業，停止新簽稀土合同。報道稱，今次是首次確認有日本企業購買稀土被拒。共同社又引述消息人士指，中方亦在考慮終止現有合同。 自去年11月，日本首相高市早苗發表「台灣有事論」之後，中日關係持續緊張。中方提醒公民避免到日本。 中國政府本月宣布，加強有助於提升日本軍事實力的軍民兩用物項對日出口管制。央視旗下玉淵譚天發文稱，中方的做法是要由上而下，打擊日本整個軍工產業體系。 文章指，日本的軍工產業體系，就是日本右翼政客叫囂「台灣有事就是日本有事」的依仗，所以中方管制的目的，就是要打碎這個依仗，打斷日本右翼勢力妄圖令軍國主義死灰復燃的念想。 又稱中方的出口管制針對的，是日本長期實行「寓軍於民」的做法，如果企業為軍事擴張提供支撐，就可能被依法追究法律責任。 文章形容，中方的行動亦體現出中方敢於、亦越來越善於維護自身利益。

中國企業據報通知日本企業，停止新簽稀土合同，亦可能會終止現有的合約。 日本共同社報道，銷售稀土的中國國企通知日本企業，停止新簽稀土合同。報道稱，今次是首次確認有日本企業購買稀土被拒。共同社又引述消息人士指，中方亦在考慮終止現有合同。 自去年11月，日本首相高市早苗發表「台灣有事論」之後，中日關係持續緊張。中方提醒公民避免到日本。 中國政府本月宣布，加強有助於提升日本軍事實力的軍民兩用物項對日出口管制。央視旗下玉淵譚天發文稱，中方的做法是要由上而下，打擊日本整個軍工產業體系。 文章指，日本的軍工產業體系，就是日本右翼政客叫囂「台灣有事就是日本有事」的依仗，所以中方管制的目的，就是要打碎這個依仗，打斷日本右翼勢力妄圖令軍國主義死灰復燃的念想。 又稱中方的出口管制針對的，是日本長期實行「寓軍於民」的做法，如果企業為軍事擴張提供支撐，就可能被依法追究法律責任。 文章形容，中方的行動亦體現出中方敢於、亦越來越善於維護自身利益。

GME, NVDA, MSTR And More: 5 Stocks Investors Couldn't Stop Buzzing About This Week Benzinga

In this article LULU Follow your favorite stocks CREATE FREE ACCOUNT Jeff Greenberg | Universal Images Group | Getty Images Company: Lululemon Athletica Inc. (LULU) Business: Lululemon Athletica is a technical athletic apparel, footwear, and accessories company. The company organizes its operations into four regional markets: the Americas, China Mainland, Asia Pacific (APAC), and Europe and the Middle East (EMEA). It conducts its business through different channels in each market, including the company-operated stores, e-commerce, temporary locations, wholesale, outlets, a re-commerce program, as well as license and supply arrangements. The company offers a comprehensive line of technical athletic apparel, footwear and accessories marketed under the lululemon brand. Its apparel assortment includes items such as shorts, tops and jackets designed for a healthy lifestyle, including athletic activities such as yoga, running, training and most other activities. It also offers apparel designed for being on the move and fitness-inspired accessories. It operates stores in the United States, Canada, China Mainland, Australia, South Korea and others. Stock Market Value : $23.92B ($203.90 per share) Stock Chart Icon Stock chart icon Lululemon Athletica shares in the past 12 months Activist: Elliott Investment Management Ownership: n/a Average Cost: n/a Activist Commentary: Elliott is a multi-strategy investment firm that manages approximately $76.1 billion in assets (as of June 30) and is one of the oldest firms of its type under continuous management. Known for its extensive due diligence and resources, Elliott regularly follows companies for years before making an investment. Elliott is the most active of activist investors, engaging with companies across industries and multiple geographies. What's happening On Dec. 18 , it was reported that Elliott has taken a more than $1 billion position in Lululemon and is bringing in Jane Nielsen, former CFO and COO of Ralph Lauren, as ...

This week offered up an array of stocks to buy from across several different industries. These five stocks all showed promising action in their own right. They include major tech names like Alphabet and Shopify, retail stalwart TJX Cos.

Ethan Miller/Getty Images News Following its coverage of CES 2026 last week, the financial firm BNP Paribas identified robotics as a key emerging market in the tech sector, with use cases about to take off. Artificial intelligence also continues to embed itself in everything, while

Exclusive: Voters say they have little confidence that government can control borders despite sharp falls in net migration A large majority of UK voters believe immigration is increasing despite sharp falls in the number of people entering the UK, according to exclusive polling shared with the Guardian. Voters also say they have no confidence in the government’s ability to control the UK’s borders, according to the poll by More in Common. The results will come as a blow to Keir Starmer’s administration, which has taken an increasingly hardline stance on immigration in recent months. Continue reading...

The booming GLP-1 space was built on weekly injections. In 2026, new obesity pills will push the market into its next chapter. Patients are already getting their hands on the first GLP-1 pill for obesity from Danish drugmaker Novo Nordisk — a once-daily drug that shares the same brand name as its popular injection Wegovy. A GLP-1 pill from the company's chief rival Eli Lilly isn't far behind, with a U.S. approval expected within months. For some people, pills may serve as a more convenient — and potentially cheaper — alternative to today's blockbuster injections. The cash prices of Novo Nordisk's Wegovy pill range from $149 to $299 per month , depending on the dose, which is slightly less than the newly lowered cash prices of injections. While the pills aren't expected to bring more weight loss than weekly shots, based on separate clinical trials, some health experts say expanding the range of treatments could still be a major win for patients. Pills could attract new patients to seek obesity treatment for the first time, expanding the broader weight loss and diabetes drug market and potentially boosting sales for Novo Nordisk and Eli Lilly. The new users may include people who are afraid of needles, as well as patients who could benefit from existing injections but don't view their condition as severe enough to warrant a weekly shot. "I think that there are a lot of people out there who have never tried these GLP-1 drugs and are maybe waiting for the pills to come out," said Dr. Eduardo Grunvald, medical director of the UC San Diego Health Center for Advanced Weight Management. "It's kind of a natural preference for some people and even some prescribers." "Secondly, if you have to pay out of pocket, the pills are going to be a bit less expensive than the injections, so that's another reason," he said. The logo of pharmaceutical company Novo Nordisk is displayed in front of its offices in Bagsvaerd, on the outskirts of Copenhagen, Denmark, Nov. 24, 2025. Tom Little ...

In this article ULTA TGT Follow your favorite stocks CREATE FREE ACCOUNT Pixdeluxe | E+ | Getty Images It often starts small. A dab of concealer . A tinted moisturizer . Maybe a brow gel that goes from borrowed to bought. For many men, like Daniel Rankin, makeup has transformed from something taboo into a tool to make them look less tired and more put together. "I remember thinking, 'Am I really doing this?'" Rankin, a 24-year-old advertising agent from New York who likes to shop at Sephora , told CNBC. "But once I tried it, it just became normal." In front of bathroom mirrors and in gym locker rooms, more men are now adding cosmetics to their routines, industry experts told CNBC. The men's makeup market is now one of the most lucrative — and largely untapped — growth opportunities left in beauty, and specialty retailers like Ulta Beauty and Sephora along with big-box companies like Target and Walmart all see opportunity. "Men's beauty is one of the last categories left where brands can likely still see easy double-digit growth potential simply by showing up," said Delphine Horvath, professor of cosmetics and fragrance marketing at the Fashion Institute of Technology. Men's grooming sales in the United States topped $7.1 billion in 2025, up 6.9% year over year, according to market research firm NielsenIQ . The global market was valued at $61.6 billion in 2024 and projected to surpass $85 billion by 2032, with the biggest growth driven by the skin-care sector, according to Fortune Business Insights . Much of the momentum is coming from Gen Z. In the U.S., 68% of Gen Z men ages 18 to 27 used facial skin-care products in 2024, a sharp jump from 42% just two years earlier, according to data from market intelligence firm Mintel . "This is no longer niche," said Linda Dang, CEO of Canada-based Asian beauty retailer Sukoshi. "Men are forming routines, that usually starts at skin care and then expands further, they are no longer just buying random products. That's what make...

Welcome to the Wall Street Week newsletter, bringing you stories of capitalism about things you need to know, but even more things you need to think about. I’m David Westin , and this week US diplomat Richard Haass interpreted for us what President Trump is up to in Venezuela, and we looked at how New Zealand farmers have coped since subsidies were cut off decades ago. If you’re not yet a subscriber, sign up here for this newsletter. Haass: Venezuela “Is Not Regime Change” The worlds of diplomacy and politics and punditry were all aflutter this week after the US went into Venezuela to capture President Nicolás Maduro and take him to New York for trial. But as former Council on Foreign Relations head Richard Haass says, when it comes to markets “it’s the dog that didn’t bark in the night.” That doesn’t mean, however, that it necessarily ends there. Haass sees potential ramifications for Colombia, Cuba, Mexico, and even Canada down the road. For Haass, it all comes down to an administration that “essentially sees foreign policy more in terms of homeland security and economic welfare.” Which leads us to the primary motivation for President Donald Trump’s actions in Venezuela which, according to Haass, all come down to one thing: oil. Agriculture Without a Lifeline The US has been subsidizing its farmers since FDR’s New Deal, and most other developed nations have done the same thing — with a big exception. Lockwood Smith is a former New Zealand agriculture minister and was a new member of parliament when the government took the bold step of eliminating farm subsidies in the mid-1980s. He recalls that “it was pretty tough going” for New Zealand farmers, but they “toughed it out.” “The improvement in productivity since then has been stunning,” he added. More from Wall Street Week Bloomberg Wall Street Week is live Fridays at 6 p.m. New York time. Watch on Bloomberg Television , on the Terminal at TV and on YouTube ; or listen to the show on Bloomberg Radio and RADI . Catc...

Nick and Brooke Shirley have for years published conspiracy-minded takes on hot-button rightwing issues YouTube influencer Nick Shirley, whose viral video alleging fraud by daycare centers servicing Minneapolis’s Somali American community came days ahead of the Trump administration’s declaration of a national funding freeze , has for years published conspiracy-minded takes on hot-button rightwing issues. He also has close ties to the White House, Republicans , and to representatives of an earlier generation of rightwing partisan “ ambush journalists ” such as James O’Keefe . He worked with Minnesota Republicans to produce the viral video on Somali-run daycares. Continue reading...

watch now VIDEO 22:38 22:38 How Anthropic is winning the AI wars by fulfilling OpenAI's original mission Tech SAN FRANCISCO — Daniela Amodei has an energy that's hard to place — warm, unhurried, immediately present. She swept into a sunlit room on the ground floor of Anthropic 's headquarters in December, sat down, and immediately apologized for her mug. "Is my, like, gigantic novelty mug going to be distracting if I have it?" she said. "I'll defer to the wise camera people in terms of what's in the shot." It was a disarming kind of normal for someone operating at this level. Five years ago, she and her brother, Anthropic CEO Dario Amodei , led an exodus from OpenAI . They took a core group of senior researchers and started Anthropic with a contrarian bet: That safety and business success weren't in tension, that the real money wasn't in viral consumer products, and that the artificial intelligence race would be won by the company that knew when to slow down. "We really just felt more like we were running towards something than running away from something," Daniela said of the decision to leave. The co-founders had known each other for years before OpenAI. Her brother and co-founders Tom Brown and Chris Olah worked together at Google Brain. Others overlapped at various labs. watch now VIDEO 4:26 04:26 Anthropic bets efficiency can beat brute-force scale in the AI arms race TechCheck Anthropic's headquarters is on "AI Alley" in San Francisco, a 230,000-square-foot glass high-rise in the shadow of Salesforce Tower. The neighborhood is a corridor of startups and tech giants reshaping the American economy from a handful of downtown blocks. Anthropic is now valued at $183 billion and on track to nearly double that, according to a newly signed term sheet, with Microsoft and Nvidia joining its cap table. Revenue has grown ten times annually for three consecutive years, thanks in large part to the fact that the company's AI assistant, Claude, has become the model of choice ...

Are we in an artificial intelligence bubble? It's the debate that dominated the tech industry in 2025 , and it's not going away anytime soon. Record valuations and deals driven by major investments in artificial intelligence have fueled the AI boom, leaving some to brace for the potential burst. AI leaders like OpenAI and Nvidia have spun an impressive web of staggering deals with cloud infrastructure companies, while hyperscalers including Amazon , Microsoft and Google continue to spend billions on data center buildouts . Although companies are racing to supply the rapidly accelerating AI demand, the enormous debt financing these buildouts have sparked worry that the spending spree may prove to be an overreach. Economic bubbles occur when asset prices in a specific market rapidly rise, often due to speculation or overenthusiasm, followed by a crash when prices suddenly drop. Read more CNBC tech news Meta faces China probe over acquisition of AI agent startup Manus Microsoft revealed as company behind controversial data center proposal in Michigan township Alphabet's market cap surpasses Apple's for first time since 2019 Google, Character.AI to settle suits involving minor suicides and AI chatbots Bubble talks ignited again at the end of last year after Nvidia CEO Jensen Huang dismissed fears of a possible AI bust during the company's third-quarter earnings call. "There's been a lot of talk about an AI bubble," he said. "From our vantage point, we see something very different." Others have been less confident in the stability of the AI surge, including "The Big Short" investor Michael Burry . The fund manager, who rose to fame for predicting the 2008 housing crisis, drew parallels between the current spending euphoria and the dot-com mania of the late 1990s in a lengthy Substack essay. "Sometimes, we see bubbles," Burry wrote in an October X post . "Sometimes, there is something to do about it. Sometimes, the only winning move is not to play." OpenAI CEO Sam Altman ...

Renee Good won a national prize six years ago for her poem "On Learning to Dissect Fetal Pigs," which muses on science and faith. Good was shot to death by an ICE agent this week in Minneapolis. (Image credit: Charlie Riedel)

What’s happening with a generation feeling burned out by the “broken promise” of the American dream.

Hi, friends! Welcome to Installer No. 111, your guide to the best and Verge -iest stuff in the world. (If you're new here, welcome, hope you had a wonderful holiday season, and also you can read all the old editions at the Installer homepage .) This week, I've been reading about gerrymandering and watch conventions and John Ternus , watching F1 and Roofman and half the Mission: Impossible series on plane rides, starting and then immediately failing a daily journaling habit, getting super into the Debt Heads podcast, learning fun facts about mail processing , buying a bunch of old gadgets on eBay to fill up my video call background, and barely … Read the full story at The Verge.

Games Done Quick , the biannual charity speedrunning event currently going on right now, not only helps organizations like the Prevent Cancer Foundation and Doctors Without Borders - it helps indie games get noticed, too. Indie game developers face an incredible uphill battle not only getting their projects funded, completed, and launched, but discovered as well. Events like GDQ can be a boon to developers, exposing tens of thousands of viewers to little-known games like Bat to the Heavens , Small Saga , and more. "It was extremely exciting," said Ceroro, developer of Bat to the Heavens , a platformer in which the character must ascend to the h … Read the full story at The Verge.

Which supermarket marmalades hit preserve perfection and which aren’t worth their rind? • The baking kit the pros can’t live without For this week’s taste test, I asked my old River Cottage colleague, friend and author Pam “the Jam” Corbin for advice. “A truly brilliant marmalade,” she says, “is simply one where the peel, the gel, the texture and indeed the flavour are in harmony. “The amazing and rather magical thing about marmalade,” Pam says, “is that if 100 people made a panful, each one would vary: different sugars, different peel sizes, different boil times and even different water influence the final outcome.” Store-bought products are no different, though most commercially produced marmalades are made with extra pectin, acidity regulators and orange oil, which, while relatively harmless, all affect the taste and texture, and aren’t entirely necessary, either. Continue reading...

Many stocks experienced record-shattering growth in 2025. However, some people are concerned that a downturn is around the corner, with more than one-quarter of investors feeling pessimistic about the future of the market, according to the most recent weekly survey from the American Association of Individual Investors. To be clear, nobody knows whether that will happen, and even if we do face a bear market , it may not necessarily result in a severe crash or prolonged recession. The good news is that no matter what may be looming for the market, investors can start preparing their portfolios now. Image source: Getty Images. Continue reading

watch now VIDEO 2:29 02:29 What rebuilding Venezuela's oil fields will mean for ExxonMobil, Chevron and ConocoPhillips Oil and Gas Leading U.S. oil executives told President Donald Trump at the White House on Friday that Venezuela will need major reforms to attract investment. Trump said Friday the industry would invest at least $100 billion to rebuild Venezuela's energy sector with U.S. security guarantees. But the CEOs of big oil companies like ExxonMobil and ConocoPhillips did not commit at the meeting to quickly re-enter Venezuela. Exxon CEO Darren Woods told Trump that the Venezuelan market is "uninvestable" in its current state. Venezuela seized Exxon's and Conoco's assets in 2007, and Caracas owes the companies billions of dollars in outstanding claims from arbitration cases. "We've had our assets seized there twice, and so you can imagine to re-enter a third time would require some pretty significant changes from what we've historically seen here," Woods told Trump at the White House. "If we look at the legal and commercial constructs and frameworks in place today in Venezuela today, it's uninvestable." Exxon is prepared to send a technical team to evaluate the current state of Venezuela's oil industry and assets, Woods said. ConocoPhillips CEO Ryan Lance congratulated Trump on ousting former President Nicolás Maduro. He said the banking sector will need to help restructure Venezuela's debt and provide billions of dollars in financing for the restore the country's infrastructure. Lance also called for the restructuring of state-owned oil company Petróleos de Venezuela (PDVSA). "As we think that big and bold, we need to be also thinking about even restructuring the entire Venezuelan energy system including PDVSA," Lance told the president. Trump told the Conoco CEO that the U.S. government is not looking at recovering the assets the company lost during the 2007 nationalization. "We're not going to look at what people lost in the past, because that was their f...

Sonoma Allocations LLC Purchases Shares of 2,041 Taiwan Semiconductor Manufacturing Company Ltd. $TSM MarketBeat

3,423 Shares in QUALCOMM Incorporated $QCOM Purchased by Sonoma Allocations LLC MarketBeat

Here is Why Meta Platforms (META) is Favored by Hedge Funds Finviz

The most overbought companies this week reflect investors' rotation away from flashy tech names and into other corners of the market. Major U.S. indexes climbed this week despite fears about elevated geopolitical shocks and stock market valuations. The S & P 500 notched an all-time high on Friday and closed at another record. The tech sector was largely flat on the week, but consumer discretionary and materials saw sharp gains. Given this week's rally, certain stocks have tipped into overbought territory and could see a dip in the near term. CNBC Pro used its stock screener tool to identify the most overbought and oversold stocks as measured by their 14-day relative strength index, or RSI. Those with a 14-day RSI above 70 are considered overbought, meaning that a pullback could be due. A reading below 30 indicates that a stock is oversold and may soon be due for a potential rebound. Take a look below for the market's most overbought and oversold stocks this week. Major American defense contractor L3Harris Technologies made the overbought list with an RSI of 78.2. The stock rose about 10% this week and got a boost after President Donald Trump in a Wednesday Truth Social post called for a $1.5 trillion defense budget in 2027. Shares of L3Harris are up 14% year to date and the stock hit a 52-week high on Friday. The stock could be fairly valued at current levels, however, given that analysts polled by LSEG have a price target on shares that implies less than 0.1% potential upside. Other stocks in overbought territory are Ulta Beauty , Target , Centene and United Parcel Service . Ulta, up 7.4% this week, is trading at all-time high levels back to its market debut in October 2007, according to CNBC data. Oversold stocks we found include Apple , Campbell's and Paramount Skydance . Apple shares saw seven consecutive days of losses between Dec. 30 and Jan. 8. This week, Alphabet's market capitalization overtook Apple's for the first time since 2019. The moves come as Apple ...

The arrival of artificial intelligence (AI) has been a boon for CoreWeave (NASDAQ: CRWV) . The AI infrastructure specialist went public at the end of March around $40 per share, and by June, the stock had skyrocketed to a $52-week high of $187. Since then, the company's share price has plunged over 50%, as CoreWeave experienced growing skepticism from Wall Street. The reaction is understandable considering its stock's meteoric rise and sky-high valuation. Does the company's share price decline mean it was caught up in the AI frenzy and its best days are behind it? Or is this a chance to buy at a discount for the opportunistic investor? Let's dive into CoreWeave to arrive at an answer. Continue reading

Goldman Sachs named a group of six stocks that it believes are best positioned this year. The Wall Street investment bank said companies such as Coinbase are compelling, with more room to run. Other buy-rated names screened by CNBC Pro include Mastercard, Visa, MongoDB , Dick's Sporting Goods and Madison Square Garden Entertainment. Madison Square Garden Entertainment The entertainment company and owner of Madison Square Garden is firing on all cylinders following a robust holiday season, according to analyst Stephen Laszczyk. "We believe that the market is currently under-appreciating the opportunity for MSGE..." Goldman wrote. In addition, "the key catalyst in 2026 will likely be movement on the sale of the Theater at MSG related to the Penn Station Transformation Plan, where a developer is expected to be assigned by May 2026," Laszczyk noted, citing the high value of the Madison Square Garden property in New York. Laszczyk also said MSGE's Christmas Spectacular show at Radio City Music Hall displayed strong demand and that booking visibility at The Garden is increasing. Shares of the company are up 60% over the past 12 months and Goldman now has a price target of $60 per share, up from $53 previously. Visa and Mastercard In a recent 2026 outlook, a team led by analyst Will Nance called the two payment companies long term winners. "Fiscal stimulus, easy comps and commercial card adoption [will] sustain [high single digit] global card volume growth," the team wrote. Goldman says both credit card processors are also best positioned for agentic commerce, too. "We see V and MA as particularly well positioned by offering a global payment ecosystem that already has widespread adoption and consumer trust, and believe that V/MA also have numerous opportunities to layer in Value-Added-Services," he said. Shares of both stocks are up around 12% over the past 12 months. Dick's Sporting Goods Shares of the sporting goods chain have plenty more room to run, according to Goldma...

据韩联社10日报道，针对可能有民间无人机“侵入朝鲜”，韩国总统李在明当天指示军警联合调查组进行严格调查。李在明说，若此事属实，将属于严重犯罪。 (新华社)

格隆汇1月10日｜据CCTV国际时讯，美国农业部1月9日宣布，立即暂停对明尼苏达州的所有联邦拨款，因为联邦政府正在对该州进行大规模欺诈调查。近来，明尼苏达州的系列社会福利诈骗案不断曝光，涉案金额迅速扩大，并引发政治风波。日前，美国卫生与公共服务部已经宣布冻结了明尼苏达州等5个民主党主政州的儿童与家庭管理局监管的儿童保育与发展基金、贫困家庭临时援助和社会服务拨款等3个项目，金额约106亿美元。

AI竞争的尽头是电力和制造能力。 1月10日，在“2026年中国首席经济学家论坛年会”上，中国首席经济学家论坛理事刘煜辉在发表主旨演讲时指出，人工智能（AI）竞争的尽头是电力和制造能力，这一轮AI产业革命将由中国完成。 在演讲中，刘煜辉将AI产业革命分为“上半场”和“下半场”。上半场以算力和技术研发为核心，资本和人才投入巨大，为未来发展奠定基础；下半场则关注如何将技术势能转化为商业落地，形成完整的产业生态。 他认为，中国在制造能力、产业生态建设和AI落地方面具有明显优势，而美国更多停留在技术蓝图和设计层面，难以形成完整产业闭环。 在全球资产表现方面，刘煜辉强调，2025年美元走弱约10%，但未出现系统性崩塌。与此对应，半导体和科创相关产业指数普遍上涨：例如，韩国股市半导体类上涨约70%，中国“两创”指数上涨约50%。 “中国通过端到端的产业生态优势，实现大模型训练、硬件应用和数据回流闭环，形成完整的技术与商业生态，这将决定下半场的国际竞争格局。”刘煜辉说。 刘煜辉最后提到，尽管短期市场仍存在波动和不确定性，但从长期趋势看，中国在AI及科创产业革命的下半场中占据优势，“东风压倒西风”已成大势。

通过限制竞争、压缩供给来应对经济下行，反而可能通过抑制收入和预期，进一步削弱需求。 在中国经济结构转型与内外部环境变化交织的背景下，如何理解产业优势、需求约束与宏观政策取向，成为当前宏观讨论的重要议题。在1月10日举办的“2026年中国首席经济学家论坛年会”上，中金公司首席经济学家、论坛副理事长彭文生发表主旨演讲时表示，中国制造业尤其是绿色产业和人工智能，具备典型的规模经济特征。 彭文生表示，自工业革命以来，规模经济始终是推动经济长期增长的核心载体之一。规模并非静态概念，而是与技术进步和创新活动相互强化、持续演化的“动态规模经济”。在这一过程中，规模扩张通过降低成本、提高效率促进技术进步，而技术进步又在新的基础上支撑更大规模的生产与应用，二者形成正向循环，构成现代经济增长的重要动力。 他强调，仅从供给侧理解规模经济是不充分的。规模优势能否转化为现实增长，关键在于需求端是否能够形成有效匹配。历史经验表明，通过限制竞争、压缩供给来应对经济下行，并不能从根本上解决问题，反而可能通过抑制收入和预期，进一步削弱需求。 结合中国现实，彭文生认为，中国制造业尤其是绿色产业和人工智能，具备典型的规模经济特征。在光伏、电动车等领域，规模越大，成本越低，技术进步与规模扩张高度相关。这与化石能源形成鲜明对比，后者受资源约束影响，属于垄断行业。 从全球视角看，中国绿色产业的快速发展，实际上为全球绿色转型提供了更具成本优势的解决方案，是对全球经济的重大贡献。他指出，绿色制造业难以形成类似石油行业的卡特尔式垄断，属于充分竞争的规模经济行业。如果中国不生产，其他国家在短期内也难以以同等效率实现替代。 在宏观政策层面，彭文生强调，不能仅从融资结构角度理解直接融资与间接融资的关系。银行不仅承担融资功能，也是货币供给的重要载体。相比之下，财政政策具有更强的外生性，通过减税、转移支付和公共支出，财政能够更直接地改善居民收入状况，修复需求循环。 他认为，当前中国经济面临的问题，并非单一的金融或产业问题，而是金融周期、需求不足与收入分配结构交织的结果。同时，完善社会保障体系、提升低收入群体可支配收入，既是民生保障的需要，也是稳定消费、缓解金融周期波动的关键。