Shirley2208 personal page - To The Moon

Shirley2208

Shirley2208

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2024-01-16

$纳指三倍做空ETF(SQQQ)$ 😭😭😭😭😭

2024-01-14

[开心] [呆住] [开心] [财迷] [微笑] [呆住] [得意]

2024-01-13

[财迷] [呆住] [呆住] [得意] [呆住] [财迷] [呆住] [呆住] [呆住] [财迷]

2024-01-12

[呆住] [呆住] [呆住] [财迷] [开心] [开心] [财迷]

2024-01-11

[财迷] [财迷] [开心] [开心] [呆住] [呆住]

2024-01-10

[开心] [得意] [开心] [得意] [开心] [得意] [难过] [得意] [难过]

2024-01-09

[呆住] [呆住] [开心] [呆住] [呆住]

2024-01-08

[呆住] [呆住] [财迷] [开心] [开心] [呆住] [财迷]

2024-01-07

[得意] [得意] [得意] [得意] [得意] [呆住] [财迷]

2024-01-06

😁😁😁😁😁😁😁😁

2024-01-05

[财迷] [财迷] [财迷] [财迷] [财迷] [财迷] [财迷] [财迷]

2024-01-04

😁😁😁😁😁😁😁

2024-01-03

[微笑] [微笑] [开心] [开心] [财迷] [呆住] [呆住] [得意] [流泪]

2024-01-02

[财迷] [财迷] [财迷] [财迷] [财迷] [财迷]

2024-01-01

[得意] [得意] [得意] [得意] [得意] [得意]

2023-12-31

[得意] [得意] [呆住] [呆住] [财迷]

2023-12-30

[开心] [开心] [开心] [开心] [开心] [开心] [开心]

2023-12-29

😁😁😁👍👍👍

2023-12-28

[财迷] [财迷] [财迷] [财迷] [财迷] [财迷]

2023-12-27

[财迷] [财迷] [财迷] [财迷] [财迷] [财迷]

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[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/256443923918864","isVote":1,"tweetType":1,"viewCount":629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":887920816,"gmtCreate":1631960296535,"gmtModify":1676530678836,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/887920816","repostId":"2168776335","repostType":4,"isVote":1,"tweetType":1,"viewCount":1266,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885725155,"gmtCreate":1631835968377,"gmtModify":1676530646764,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/885725155","repostId":"1131674317","repostType":4,"repost":{"id":"1131674317","kind":"news","pubTimestamp":1631760754,"share":"https://ttm.financial/m/news/1131674317?lang=en_US&edition=fundamental","pubTime":"2021-09-16 10:52","market":"us","language":"zh","title":"Space X conducts its first \"all-civilian\" space tour! How meaningful is it","url":"https://stock-news.laohu8.com/highlight/detail?id=1131674317","media":"腾讯","summary":"这是自2009年以来，再次有人类超过距离地面500公里的高度。","content":"<p>Author: Qiao Hui</p><p>At about 8 o'clock on September 16, 2021, Beijing time, SpaceX carried out its first \"all-civilian\" space tourism launch at the Kennedy Space Center in Florida, USA. At present, the spacecraft has successfully entered orbit.</p><p><img src=\"https://static.tigerbbs.com/7874305c006a53f849beceaa6cdb02ac\" tg-width=\"1042\" tg-height=\"620\" referrerpolicy=\"no-referrer\"></p><p>According to the plan, four space tourists will be taken to an orbit 575 kilometers above the ground to fly around the earth for a three-day space tourism.</p><p><img src=\"https://static.tigerbbs.com/3bfabef3c105526241030c5858313cfc\" tg-width=\"554\" tg-height=\"312\" referrerpolicy=\"no-referrer\"></p><p>Caption: Caption: Four space tourists, from left to right: Hayley Alcher, Sean Proctor, Jared Isaacman and Chris Sembrowski.</p><p>The launch mission was named \"Inspiration4\", and all four tickets were purchased by Jared Isaacman, a 38-year-old billionaire and American e-commerce tycoon. I haven't noticed a detailed disclosure of how much it costs.</p><p>Isaacman gave two of the tickets to St. Jude's Children's Research Hospital, which gave one ticket to 29-year-old physician assistant Hayley Arceneaux and used the other ticket to hold a fund-raising event, but the winner of the event didn't take part in the flight, but passed the tickets to his friend, 42-year-old US Air Force retired soldier Chris Sembroski.</p><p>The last ticket was given away as a prize through a competition sponsored by his company Shift4 Payments. The winner was Sian Proctor, a 51-year-old geology professor.</p><p><img src=\"https://static.tigerbbs.com/1b3af57b72ae1cdb940871437e1b3d90\" tg-width=\"554\" tg-height=\"290\" referrerpolicy=\"no-referrer\"></p><p>Caption: Four space tourists, from left to right: Chris Sembrowski, Jared Isaacman, Hailey Alcher and Sean Proctor.</p><p><b>1. What is the difference between SpaceX's space tourism and previous ones?</b></p><p>Everyone should still clearly remember that just in July this year, Richard Branson, founder of Virgin Group, and Bezos, the richest man in the world, both flew to the edge of space on their own company's spacecraft. They both claimed to have opened a new era of space tourism. So, is there any essential difference between Musk's SpaceX's space tourism this time and the space tourism of the first two?</p><p>Yes! Yes! The first two bosses are engaged in suborbital space flight, while Musk is engaged in genuine orbital space tourism this time. This time, space tourists circle the earth every 90 minutes at an altitude of 575 kilometers above the ground, overlooking the beautiful earth; The first two bosses experienced weightlessness for only 3 to 4 minutes, while Musk's four guests were able to enjoy the feeling of weightlessness for 3 days.</p><p>Having said that, let's review what is a suborbital? WHAT IS SPACE?</p><p>The so-called suborbital refers to a flight mode in which although the aircraft has reached \"space\", it cannot maintain a global flight at a space altitude, and then it will be pulled back to the ground by the earth's gravity. What is real space? The density of the atmosphere is a continuous process of decreasing from the ground up, that is to say, the atmosphere has no clear boundary. Von Karman, a famous aerospace engineer (Qian Xuesen's mentor), once gave an altitude value based on aerodynamic calculations: 100 kilometers. In other words, it can be considered space beyond this altitude, which is the so-called \"Karman Line\" (although the altitude of Branson's spacecraft has not reached 100 kilometers, it exceeds the space altitude defined by NASA, and it is barely considered to reach space).</p><p><img src=\"https://static.tigerbbs.com/239490c933ec85be1a2a441c41201989\" tg-width=\"554\" tg-height=\"338\" referrerpolicy=\"no-referrer\"></p><p>Caption: SpaceShip-2 carrying Branson left the mother plane and went straight into space.</p><p><img src=\"https://static.tigerbbs.com/7f94c680bbe34836af529bb145b0d504\" tg-width=\"554\" tg-height=\"357\" referrerpolicy=\"no-referrer\"></p><p>Caption: The moment the New Shepard rocket carrying Bezos takes off.</p><p>So, to sum up again: Branson and Bezos soared into the sky, flew to an altitude of about 100 kilometers, each played ultra-high altitude bungee jumping, touched space and came back. Musk's tourists took the Dragon spacecraft into the Earth's orbit 575 kilometers above the ground, which was genuine astronaut treatment.</p><p><img src=\"https://static.tigerbbs.com/123ddc0abf9003541f46d712bc6ca805\" tg-width=\"554\" tg-height=\"311\" referrerpolicy=\"no-referrer\"></p><p>Caption: For the Dragon spacecraft in Earth orbit, you can see that the nose cone cover can be opened to reveal the transparent viewing dome (art picture).</p><p>What is the concept of 575 kilometers? Actually, it's already relatively high. In contrast, the International Space Station operates at an altitude of 420 kilometers, and the famous Hubble telescope operates at an altitude of 547 kilometers. Therefore, in the slogan of this space tourism, the official declared that this is the second time that humans have exceeded the altitude of 500 kilometers above the ground since astronauts carried out the on-orbit maintenance of the Hubble Telescope in 2009.</p><p><b>2. What preparations do space tourists need?</b></p><p>In the past few months, four space tourists have undergone rigorous training: for example, familiarization with equipment and facilities operations in flight simulators; Get overweight training in a centrifuge; Experience the feeling of weightlessness ahead of time in Zero Gravity's weightless aircraft; Hiking in high-altitude snow-capped mountains and so on.</p><p><img src=\"https://static.tigerbbs.com/8c60f34def77ac7cd3bfcedea411ffc1\" tg-width=\"554\" tg-height=\"277\" referrerpolicy=\"no-referrer\"></p><p>Caption: Four space tourists are receiving weightlessness training.</p><p>These four space tourists are all great gods and people with stories. Let's take a closer look.</p><p><b>Three or four extraordinary \"civilian\" space tourists</b></p><p><img src=\"https://static.tigerbbs.com/2970294f53ccdceb8ba8f793b051c629\" tg-width=\"554\" tg-height=\"311\" referrerpolicy=\"no-referrer\"></p><p>These four space tourists symbolize the four spirits of leadership, hope, generosity and prosperity.</p><p><b>Commander: Jared Isaacman</b></p><p><img src=\"https://static.tigerbbs.com/f2c88c032e0f0f739201b37efe066a6f\" tg-width=\"554\" tg-height=\"369\" referrerpolicy=\"no-referrer\"></p><p>Caption: Jared Isaacman: American billionaire and flight enthusiast.</p><p>American billionaire Jared Isaacman was born on February 11, 1983. He is currently the founder and CEO of Shift4 Payments, a payment service company that processes roughly $200 billion in turnover every year.</p><p>Since 2004, Isaacman began to take flying lessons. In 2009, he set a world record for sailing around the world. In 2011, he received a Bachelor of Science in Professional Aeronautics from Embry-Riddle Aeronautical University. Currently holds pilot qualifications for several military jets.</p><p>He served as a symbol of the spirit of \"leadership\" in this mission.</p><p><b>Chief Health Officer: Hayley Archeno</b></p><p><img src=\"https://static.tigerbbs.com/6533fb1fb76cde66864f71464183fde3\" tg-width=\"554\" tg-height=\"311\" referrerpolicy=\"no-referrer\"></p><p>Caption: Hayley Alcenor: A childhood bone cancer survivor who is now a physician's assistant.</p><p>Hayley Alcenor is an employee at St. Jude's Children's Research Hospital and a childhood bone cancer survivor who is now a physician's assistant. If all goes well, Archeno will become the youngest astronaut in American history for participating in the Inspiration 4 mission.</p><p>Archeno grew up in San Francisco Ville, Louisiana, USA. When Archeno was 10 years old, he developed pain in one of his knees. Her doctors at first thought it was just a sprain, but a few months later examination revealed that Archeno had osteosarcoma. Her family turned to St. Jude's Children's Research Hospital for treatment and care, and Archeno underwent various treatments including more than a dozen rounds of chemotherapy, amputation surgery, knee replacement and titanium rod implantation in the left thigh bone. Now Archeno has finished treatment and is in good health. The experience also inspired Archeno to enter St. Jude's Children's Research Hospital to work with other cancer patients, where she is currently a physician's assistant for patients with leukemia and lymphoma.</p><p>She served as a symbol of the spirit of \"hope\" in this mission.</p><p><b>Mission Specialist: Chris Sembrowski</b></p><p><img src=\"https://static.tigerbbs.com/111d201bb955c40f0480214e8c0adfac\" tg-width=\"524\" tg-height=\"573\" referrerpolicy=\"no-referrer\"></p><p>Caption: Christopher Sembrowski: retired U.S. Air Force serviceman and space enthusiast.</p><p>Christopher Sembrowski is an American Data Engineer and retired service member from the United States Air Force currently residing in Everett, Washington, United States. Sembrodsky is now an employee of Lockheed Martin. As an amateur astronomer and rocket expert, Sembrowski has always been interested in exploring space.</p><p>He served as a symbol of \"generosity\" in this mission.</p><p><b>Driver: Sean Proctor</b></p><p><img src=\"https://static.tigerbbs.com/7fdd48c2c87d04df47688a3e21445bee\" tg-width=\"512\" tg-height=\"341\" referrerpolicy=\"no-referrer\"></p><p>Caption: Sean Proctor: Geologist.</p><p>Sean Proctor is an American professor of geology and a leading member of the Civil Aviation Patrol.</p><p>As a passionate disseminator of scientific knowledge, Proctor has appeared in three educational TV programs, namely Rebuilding Human Society Season 2 broadcast on Discovery Channel in 2010, Hawking Genius Lab Season 2 broadcast in 2016, and Strange Evidence.</p><p>She served as a symbol of the spirit of \"prosperity\" in this mission.</p><p><b>4. Second-hand Crew Dragon spacecraft</b></p><p>The \"Resolute\" manned dragon spacecraft used this time is a second-hand spacecraft used in SpaceX's first official manned flight (Crew-1) mission in November last year. The spacecraft is 4 meters in diameter and 8.1 meters high, and can carry up to 7 astronauts, which is the same as the number of astronauts carried by the space shuttle, but so far, it has only carried up to 4 astronauts.</p><p><img src=\"https://static.tigerbbs.com/3992f1c593198207d7f3cd431f0a93de\" tg-width=\"554\" tg-height=\"369\" referrerpolicy=\"no-referrer\"></p><p>Caption: Crew Dragon spacecraft in transit.</p><p>The Crew Dragon spacecraft belongs to the second-generation Dragon spacecraft (Dragon 2) developed by SpaceX and has the ability to be reused. The second-generation Dragon spacecraft can be divided into two types: manned Dragon spacecraft and cargo Dragon spacecraft. Its predecessor was the first-generation cargo Dragon spacecraft (Dragon 1). The new spacecraft can automatically dock with the space station, unlike the first generation spacecraft, which needed the help of the robotic arm on the space station. Of course, the Crew Dragon spacecraft also retains the option of manual docking. The destination of this space tourism is not the International Space Station, so there is no need to dock with the space station.</p><p><b>5. Safety and guarantee: Dragon spacecraft has the ability to escape throughout the process</b></p><p>The Crew Dragon spacecraft integrates eight \"Super Draco\" rockets with powerful thrust. The two rockets are divided into groups and installed on the sidewall of the spacecraft. They are used for escape. The thrust of each engine can reach 71 kN, which is converted into an intuitive feeling for everyone. The expression is equivalent to 7.1 tons of thrust. In addition, it is equipped with 16 \"Draco\" engine nozzles with relatively low thrust for attitude control and orbital maneuvers.</p><p><img src=\"https://static.tigerbbs.com/52e459370ce49bd5d40310c0dcfa39be\" tg-width=\"554\" tg-height=\"312\" referrerpolicy=\"no-referrer\"></p><p>Caption: Manned Dragon spacecraft \"flight abort test\" test (art picture).</p><p>Friends who are familiar with manned spaceflight may notice that both the Apollo moon landing rocket and China's Long March 2F manned launch vehicle have an escape tower on the top of the rocket.</p><p><img src=\"https://static.tigerbbs.com/3635996bc17d384ab14601ae9cdc51b4\" tg-width=\"500\" tg-height=\"456\" referrerpolicy=\"no-referrer\"></p><p>Caption: The escape tower of the Apollo spacecraft.</p><p>The function of the escape tower is to start the escape tower rocket in the initial stage of rocket launch, take the spacecraft away to a safe height, and then land. If everything goes well with the launch, when the rocket flies to a certain height, the escape tower will separate and then be discarded. The manned version of the Dragon spacecraft is equivalent to integrating the escape tower into the hull. What are the advantages of doing so?</p><p>This method can enable the spacecraft to have the ability to \"escape all the way\"! In other words, if there is a problem at any stage of the spacecraft's flight, it will have the ability to escape, and the escape tower can only guarantee the escape in the initial stage of rocket launch. This is also a new way for manned spacecraft to escape in the future.</p><p><b>6. Safety and guarantee: stable Falcon 9 (Block 5) rocket</b></p><p>We know that SpaceX is famous for its recyclable rockets. This time, the core stage uses a three-handed Falcon 9 (Block 5) rocket.</p><p>The Falcon 9 (Block 5) is a two-stage launch vehicle with a height of 70 meters. It uses liquid oxygen and kerosene as propellants. The core one-stage rocket is equipped with 9 Merlin engines with a total thrust of 7,600 kN, equivalent to 760 tons. In the case of recovering the first stage, the carrying capacity of low-Earth orbit is 15.6 tons, and in the case of not recovering the first stage, the carrying capacity of low-Earth orbit is 22.8 tons, which is regarded as a medium-sized launch vehicle.</p><p>Up to now, Falcon 9 (Block 5) still maintains a 100% successful launch record.</p><p><b>When will seven or four space tourists return?</b></p><p><img src=\"https://static.tigerbbs.com/5bd13146aad32e0bbced3344c0bcfe03\" tg-width=\"554\" tg-height=\"312\" referrerpolicy=\"no-referrer\"></p><p>Caption: This is the situation when the Crew Dragon spacecraft returned to Earth and landed in the sea before.</p><p>According to the official plan, the four space tourists will return to Earth three days after the launch, that is, September 19th, Beijing time. But a temporary postponement is not ruled out. At that time, the Dragon spacecraft will slowly land on the Atlantic Ocean under the towing of a parachute according to the established process, waiting for the arrival of the rescue team.</p><p>Finally, I wish them a good time in space and a safe return.</p>","source":"highlight_tencentus","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Space X conducts its first \"all-civilian\" space tour! How meaningful is it</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSpace X conducts its first \"all-civilian\" space tour! How meaningful is it\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">腾讯</strong><span class=\"h-time small\">2021-09-16 10:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Author: Qiao Hui</p><p>At about 8 o'clock on September 16, 2021, Beijing time, SpaceX carried out its first \"all-civilian\" space tourism launch at the Kennedy Space Center in Florida, USA. At present, the spacecraft has successfully entered orbit.</p><p><img src=\"https://static.tigerbbs.com/7874305c006a53f849beceaa6cdb02ac\" tg-width=\"1042\" tg-height=\"620\" referrerpolicy=\"no-referrer\"></p><p>According to the plan, four space tourists will be taken to an orbit 575 kilometers above the ground to fly around the earth for a three-day space tourism.</p><p><img src=\"https://static.tigerbbs.com/3bfabef3c105526241030c5858313cfc\" tg-width=\"554\" tg-height=\"312\" referrerpolicy=\"no-referrer\"></p><p>Caption: Caption: Four space tourists, from left to right: Hayley Alcher, Sean Proctor, Jared Isaacman and Chris Sembrowski.</p><p>The launch mission was named \"Inspiration4\", and all four tickets were purchased by Jared Isaacman, a 38-year-old billionaire and American e-commerce tycoon. I haven't noticed a detailed disclosure of how much it costs.</p><p>Isaacman gave two of the tickets to St. Jude's Children's Research Hospital, which gave one ticket to 29-year-old physician assistant Hayley Arceneaux and used the other ticket to hold a fund-raising event, but the winner of the event didn't take part in the flight, but passed the tickets to his friend, 42-year-old US Air Force retired soldier Chris Sembroski.</p><p>The last ticket was given away as a prize through a competition sponsored by his company Shift4 Payments. The winner was Sian Proctor, a 51-year-old geology professor.</p><p><img src=\"https://static.tigerbbs.com/1b3af57b72ae1cdb940871437e1b3d90\" tg-width=\"554\" tg-height=\"290\" referrerpolicy=\"no-referrer\"></p><p>Caption: Four space tourists, from left to right: Chris Sembrowski, Jared Isaacman, Hailey Alcher and Sean Proctor.</p><p><b>1. What is the difference between SpaceX's space tourism and previous ones?</b></p><p>Everyone should still clearly remember that just in July this year, Richard Branson, founder of Virgin Group, and Bezos, the richest man in the world, both flew to the edge of space on their own company's spacecraft. They both claimed to have opened a new era of space tourism. So, is there any essential difference between Musk's SpaceX's space tourism this time and the space tourism of the first two?</p><p>Yes! Yes! The first two bosses are engaged in suborbital space flight, while Musk is engaged in genuine orbital space tourism this time. This time, space tourists circle the earth every 90 minutes at an altitude of 575 kilometers above the ground, overlooking the beautiful earth; The first two bosses experienced weightlessness for only 3 to 4 minutes, while Musk's four guests were able to enjoy the feeling of weightlessness for 3 days.</p><p>Having said that, let's review what is a suborbital? WHAT IS SPACE?</p><p>The so-called suborbital refers to a flight mode in which although the aircraft has reached \"space\", it cannot maintain a global flight at a space altitude, and then it will be pulled back to the ground by the earth's gravity. What is real space? The density of the atmosphere is a continuous process of decreasing from the ground up, that is to say, the atmosphere has no clear boundary. Von Karman, a famous aerospace engineer (Qian Xuesen's mentor), once gave an altitude value based on aerodynamic calculations: 100 kilometers. In other words, it can be considered space beyond this altitude, which is the so-called \"Karman Line\" (although the altitude of Branson's spacecraft has not reached 100 kilometers, it exceeds the space altitude defined by NASA, and it is barely considered to reach space).</p><p><img src=\"https://static.tigerbbs.com/239490c933ec85be1a2a441c41201989\" tg-width=\"554\" tg-height=\"338\" referrerpolicy=\"no-referrer\"></p><p>Caption: SpaceShip-2 carrying Branson left the mother plane and went straight into space.</p><p><img src=\"https://static.tigerbbs.com/7f94c680bbe34836af529bb145b0d504\" tg-width=\"554\" tg-height=\"357\" referrerpolicy=\"no-referrer\"></p><p>Caption: The moment the New Shepard rocket carrying Bezos takes off.</p><p>So, to sum up again: Branson and Bezos soared into the sky, flew to an altitude of about 100 kilometers, each played ultra-high altitude bungee jumping, touched space and came back. Musk's tourists took the Dragon spacecraft into the Earth's orbit 575 kilometers above the ground, which was genuine astronaut treatment.</p><p><img src=\"https://static.tigerbbs.com/123ddc0abf9003541f46d712bc6ca805\" tg-width=\"554\" tg-height=\"311\" referrerpolicy=\"no-referrer\"></p><p>Caption: For the Dragon spacecraft in Earth orbit, you can see that the nose cone cover can be opened to reveal the transparent viewing dome (art picture).</p><p>What is the concept of 575 kilometers? Actually, it's already relatively high. In contrast, the International Space Station operates at an altitude of 420 kilometers, and the famous Hubble telescope operates at an altitude of 547 kilometers. Therefore, in the slogan of this space tourism, the official declared that this is the second time that humans have exceeded the altitude of 500 kilometers above the ground since astronauts carried out the on-orbit maintenance of the Hubble Telescope in 2009.</p><p><b>2. What preparations do space tourists need?</b></p><p>In the past few months, four space tourists have undergone rigorous training: for example, familiarization with equipment and facilities operations in flight simulators; Get overweight training in a centrifuge; Experience the feeling of weightlessness ahead of time in Zero Gravity's weightless aircraft; Hiking in high-altitude snow-capped mountains and so on.</p><p><img src=\"https://static.tigerbbs.com/8c60f34def77ac7cd3bfcedea411ffc1\" tg-width=\"554\" tg-height=\"277\" referrerpolicy=\"no-referrer\"></p><p>Caption: Four space tourists are receiving weightlessness training.</p><p>These four space tourists are all great gods and people with stories. Let's take a closer look.</p><p><b>Three or four extraordinary \"civilian\" space tourists</b></p><p><img src=\"https://static.tigerbbs.com/2970294f53ccdceb8ba8f793b051c629\" tg-width=\"554\" tg-height=\"311\" referrerpolicy=\"no-referrer\"></p><p>These four space tourists symbolize the four spirits of leadership, hope, generosity and prosperity.</p><p><b>Commander: Jared Isaacman</b></p><p><img src=\"https://static.tigerbbs.com/f2c88c032e0f0f739201b37efe066a6f\" tg-width=\"554\" tg-height=\"369\" referrerpolicy=\"no-referrer\"></p><p>Caption: Jared Isaacman: American billionaire and flight enthusiast.</p><p>American billionaire Jared Isaacman was born on February 11, 1983. He is currently the founder and CEO of Shift4 Payments, a payment service company that processes roughly $200 billion in turnover every year.</p><p>Since 2004, Isaacman began to take flying lessons. In 2009, he set a world record for sailing around the world. In 2011, he received a Bachelor of Science in Professional Aeronautics from Embry-Riddle Aeronautical University. Currently holds pilot qualifications for several military jets.</p><p>He served as a symbol of the spirit of \"leadership\" in this mission.</p><p><b>Chief Health Officer: Hayley Archeno</b></p><p><img src=\"https://static.tigerbbs.com/6533fb1fb76cde66864f71464183fde3\" tg-width=\"554\" tg-height=\"311\" referrerpolicy=\"no-referrer\"></p><p>Caption: Hayley Alcenor: A childhood bone cancer survivor who is now a physician's assistant.</p><p>Hayley Alcenor is an employee at St. Jude's Children's Research Hospital and a childhood bone cancer survivor who is now a physician's assistant. If all goes well, Archeno will become the youngest astronaut in American history for participating in the Inspiration 4 mission.</p><p>Archeno grew up in San Francisco Ville, Louisiana, USA. When Archeno was 10 years old, he developed pain in one of his knees. Her doctors at first thought it was just a sprain, but a few months later examination revealed that Archeno had osteosarcoma. Her family turned to St. Jude's Children's Research Hospital for treatment and care, and Archeno underwent various treatments including more than a dozen rounds of chemotherapy, amputation surgery, knee replacement and titanium rod implantation in the left thigh bone. Now Archeno has finished treatment and is in good health. The experience also inspired Archeno to enter St. Jude's Children's Research Hospital to work with other cancer patients, where she is currently a physician's assistant for patients with leukemia and lymphoma.</p><p>She served as a symbol of the spirit of \"hope\" in this mission.</p><p><b>Mission Specialist: Chris Sembrowski</b></p><p><img src=\"https://static.tigerbbs.com/111d201bb955c40f0480214e8c0adfac\" tg-width=\"524\" tg-height=\"573\" referrerpolicy=\"no-referrer\"></p><p>Caption: Christopher Sembrowski: retired U.S. Air Force serviceman and space enthusiast.</p><p>Christopher Sembrowski is an American Data Engineer and retired service member from the United States Air Force currently residing in Everett, Washington, United States. Sembrodsky is now an employee of Lockheed Martin. As an amateur astronomer and rocket expert, Sembrowski has always been interested in exploring space.</p><p>He served as a symbol of \"generosity\" in this mission.</p><p><b>Driver: Sean Proctor</b></p><p><img src=\"https://static.tigerbbs.com/7fdd48c2c87d04df47688a3e21445bee\" tg-width=\"512\" tg-height=\"341\" referrerpolicy=\"no-referrer\"></p><p>Caption: Sean Proctor: Geologist.</p><p>Sean Proctor is an American professor of geology and a leading member of the Civil Aviation Patrol.</p><p>As a passionate disseminator of scientific knowledge, Proctor has appeared in three educational TV programs, namely Rebuilding Human Society Season 2 broadcast on Discovery Channel in 2010, Hawking Genius Lab Season 2 broadcast in 2016, and Strange Evidence.</p><p>She served as a symbol of the spirit of \"prosperity\" in this mission.</p><p><b>4. Second-hand Crew Dragon spacecraft</b></p><p>The \"Resolute\" manned dragon spacecraft used this time is a second-hand spacecraft used in SpaceX's first official manned flight (Crew-1) mission in November last year. The spacecraft is 4 meters in diameter and 8.1 meters high, and can carry up to 7 astronauts, which is the same as the number of astronauts carried by the space shuttle, but so far, it has only carried up to 4 astronauts.</p><p><img src=\"https://static.tigerbbs.com/3992f1c593198207d7f3cd431f0a93de\" tg-width=\"554\" tg-height=\"369\" referrerpolicy=\"no-referrer\"></p><p>Caption: Crew Dragon spacecraft in transit.</p><p>The Crew Dragon spacecraft belongs to the second-generation Dragon spacecraft (Dragon 2) developed by SpaceX and has the ability to be reused. The second-generation Dragon spacecraft can be divided into two types: manned Dragon spacecraft and cargo Dragon spacecraft. Its predecessor was the first-generation cargo Dragon spacecraft (Dragon 1). The new spacecraft can automatically dock with the space station, unlike the first generation spacecraft, which needed the help of the robotic arm on the space station. Of course, the Crew Dragon spacecraft also retains the option of manual docking. The destination of this space tourism is not the International Space Station, so there is no need to dock with the space station.</p><p><b>5. Safety and guarantee: Dragon spacecraft has the ability to escape throughout the process</b></p><p>The Crew Dragon spacecraft integrates eight \"Super Draco\" rockets with powerful thrust. The two rockets are divided into groups and installed on the sidewall of the spacecraft. They are used for escape. The thrust of each engine can reach 71 kN, which is converted into an intuitive feeling for everyone. The expression is equivalent to 7.1 tons of thrust. In addition, it is equipped with 16 \"Draco\" engine nozzles with relatively low thrust for attitude control and orbital maneuvers.</p><p><img src=\"https://static.tigerbbs.com/52e459370ce49bd5d40310c0dcfa39be\" tg-width=\"554\" tg-height=\"312\" referrerpolicy=\"no-referrer\"></p><p>Caption: Manned Dragon spacecraft \"flight abort test\" test (art picture).</p><p>Friends who are familiar with manned spaceflight may notice that both the Apollo moon landing rocket and China's Long March 2F manned launch vehicle have an escape tower on the top of the rocket.</p><p><img src=\"https://static.tigerbbs.com/3635996bc17d384ab14601ae9cdc51b4\" tg-width=\"500\" tg-height=\"456\" referrerpolicy=\"no-referrer\"></p><p>Caption: The escape tower of the Apollo spacecraft.</p><p>The function of the escape tower is to start the escape tower rocket in the initial stage of rocket launch, take the spacecraft away to a safe height, and then land. If everything goes well with the launch, when the rocket flies to a certain height, the escape tower will separate and then be discarded. The manned version of the Dragon spacecraft is equivalent to integrating the escape tower into the hull. What are the advantages of doing so?</p><p>This method can enable the spacecraft to have the ability to \"escape all the way\"! In other words, if there is a problem at any stage of the spacecraft's flight, it will have the ability to escape, and the escape tower can only guarantee the escape in the initial stage of rocket launch. This is also a new way for manned spacecraft to escape in the future.</p><p><b>6. Safety and guarantee: stable Falcon 9 (Block 5) rocket</b></p><p>We know that SpaceX is famous for its recyclable rockets. This time, the core stage uses a three-handed Falcon 9 (Block 5) rocket.</p><p>The Falcon 9 (Block 5) is a two-stage launch vehicle with a height of 70 meters. It uses liquid oxygen and kerosene as propellants. The core one-stage rocket is equipped with 9 Merlin engines with a total thrust of 7,600 kN, equivalent to 760 tons. In the case of recovering the first stage, the carrying capacity of low-Earth orbit is 15.6 tons, and in the case of not recovering the first stage, the carrying capacity of low-Earth orbit is 22.8 tons, which is regarded as a medium-sized launch vehicle.</p><p>Up to now, Falcon 9 (Block 5) still maintains a 100% successful launch record.</p><p><b>When will seven or four space tourists return?</b></p><p><img src=\"https://static.tigerbbs.com/5bd13146aad32e0bbced3344c0bcfe03\" tg-width=\"554\" tg-height=\"312\" referrerpolicy=\"no-referrer\"></p><p>Caption: This is the situation when the Crew Dragon spacecraft returned to Earth and landed in the sea before.</p><p>According to the official plan, the four space tourists will return to Earth three days after the launch, that is, September 19th, Beijing time. But a temporary postponement is not ruled out. At that time, the Dragon spacecraft will slowly land on the Atlantic Ocean under the towing of a parachute according to the established process, waiting for the arrival of the rescue team.</p><p>Finally, I wish them a good time in space and a safe return.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/a1ydN1azY_Vpod1nnUSEnQ\">腾讯</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ed1a197c928ccaf7f86c6a810a9fd6b3","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://mp.weixin.qq.com/s/a1ydN1azY_Vpod1nnUSEnQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131674317","content_text":"作者：乔辉\n北京时间2021年9月16日8时许，美国太空探索技术公司（SpaceX）进行了首次“全平民”太空旅游发射，地点位于美国佛罗里达州肯尼迪航天中心。目前，飞船已经成功进入轨道。\n\n按计划，四名太空游客会被带到距离地面575公里高的轨道上环绕地球飞行，进行为期3天的太空旅游观光。\n\n图注：图注：四位太空游客，从左到右依次是：海莉·阿尔切、西恩·普罗克特、贾里德·艾萨克曼和克里斯·森布罗斯基。\n本次发射任务命名为“灵感4”（Inspiration4），四张船票全由38岁的亿万富翁、美国电商大亨贾里德·艾萨克曼（Jared Isaacman）出资购买。具体花费多少，还没注意到有详细披露。\n艾萨克曼把其中两张票赠送给了圣犹达儿童研究医院，该医院把其中一张票给了29岁的医师助理海莉·阿尔切诺（Hayley Arceneaux），用另一张票搞了一次筹集资金活动，但赢得活动的人并没有参加本次飞行，而是把票转手给了自己的朋友，42岁的美国空军退役军人克里斯·森布罗斯基（Chris Sembroski）。\n最后一张票，艾萨克曼通过一项由自己公司Shift4 Payments发起的竞赛项目作为奖品送出，获得者是51岁的地质学教授西恩·普罗克特（Sian Proctor）。\n\n图注：四位太空游客，从左到右依次是：克里斯·森布罗斯基、贾里德·艾萨克曼、海莉·阿尔切和西恩·普罗克特。\n一、SpaceX这次太空旅游与此前的有什么不同？\n大家应该都还清晰记得，就在今年7月份，维珍集团创始人理查德·布兰森（Richard Branson）和世界首富贝索斯都先后搭乘自家公司太空船飞到了太空边缘，他们都声称开启了太空旅游的新时代。那，这次马斯克的SpaceX公司的太空旅游与前两位的太空旅游有什么本质不同吗？\n有！前两位大佬玩的都是亚轨道太空飞行，而马斯克这次搞的是货真价实的入轨太空旅游，本次太空游客在距离地面575公里的高度上每90分钟绕地球一圈，俯瞰美丽的地球；前两位大佬体验失重的时间仅仅3分钟到4分钟，而马斯克的这四名客人能够享受3天的失重感觉。\n说到这里，我们再来复习一下什么是亚轨道？什么是太空？\n所谓的亚轨道是指飞行器虽然触达到了“太空”，但是无法维持在太空高度做环球飞行，随后会被地球引力重新拉回地面的一种飞行模式。什么是真正的太空呢？大气密度从地面往上是一个连续变小的过程，也就是说，大气并没有一个明确的边界。著名航空航天工程师冯·卡门（钱学森的导师）曾根据空气动力学计算，给出一个高度数值：100公里。也就是说，超过这个高度就可认为是太空了，这就是所谓的“卡门线”（虽然布兰森的太空船高度并未达到100公里，但超过了NASA定义的太空高度，也勉强算触达太空了）。\n\n图注：搭载着布兰森的太空船二号脱离母机，直冲太空。\n\n图注：搭载贝索斯的新谢泼德号火箭起飞瞬间。\n因此，再总结一下：布兰森和贝索斯直冲云霄，飞到了100公里左右的高度，各玩了一次超高空蹦极，触摸了一下太空就回来了。而马斯克的游客们搭乘龙飞船进入了距地面575公里高的地球轨道，是货真价实的宇航员待遇。\n\n图注：地球轨道中的龙飞船，可以看到头锥盖能打开，露出透明观景穹顶（艺术图）。\n575公里是一个什么概念？其实已经比较高了。相比之下，国际空间站运行的高度为420公里，大名鼎鼎的哈勃望远镜运行的高度为547公里。因此，在本次太空旅游的宣传语中，官方宣称，这是自2009年宇航员执行对哈勃望远镜在轨维修以来，再次有人类超过距离地面500公里的高度。\n二、太空游客需要什么准备？\n在过去几个月的时间里，四名太空游客进行了严苛的培训：例如，在飞行模拟器中进行了设备设施操作的熟悉；在离心机中接受超重训练；在零重力公司的失重飞机中提前体验失重的感觉；在高海拔雪山中进行徒步行走等等。\n\n图注：四位太空游客在接受失重训练。\n这四名太空游客都是大神，都是有故事的人，下面我们来详细了解一下。\n三、四名不平凡的“平民”太空游客\n\n这四名太空游客，分别象征领导力（leadership）、希望（hope）、慷慨（generosity）和繁荣（prosperity）这四种精神。\n指令长：贾里德·艾萨克曼\n\n图注：贾里德·艾萨克曼：美国亿万富翁，飞行爱好者。\n美国亿万富翁贾里德·艾萨克曼出生于1983年2月11日，目前是支付服务公司Shift4 Payments的创始人兼首席执行官，该公司每年大约处理2000亿美元的流水。\n2004年起，艾萨克曼开始学习飞行课程。2009年，他创造了环球航行的世界纪录。2011年，他获得安柏瑞德航空大学的专业航空学学士学位。目前拥有多种军用喷气式飞机的驾驶资格。\n他在本次飞行任务中作为“领导力”精神的象征。\n首席卫生官：海莉·阿尔切诺\n\n图注：海莉·阿尔切诺：一名儿童骨癌幸存者，现在是一名医生助理。\n海莉·阿尔切诺是圣犹达儿童研究医院的员工，也是一名儿童骨癌幸存者，现在是一名医生助理。如果一切顺利的话，阿尔切诺将因为参加“灵感4号”任务而成为美国历史上最年轻的宇航员。\n阿尔切诺在美国路易斯安那州的圣弗朗西斯科维尔长大。在阿尔切诺10岁的时候一处膝盖出现疼痛症状。她的医生起初以为只是扭伤，但几个月后检查显示阿尔切诺患的是骨肉瘤。她的家人求助于圣犹达儿童研究医院进行治疗和护理，阿尔切诺经受了十几轮化疗、截肢手术、膝关节置换和左大腿骨钛棒植入等各种治疗手段。现在阿尔切诺已经结束治疗，身体状况良好。这段经历也激励阿尔切诺进入圣犹达儿童研究医院为其他癌症患者工作，目前她是白血病和淋巴瘤患者的医生助理。\n她在本次飞行任务中作为“希望”精神的象征。\n任务专家：克里斯·森布罗斯基\n\n图注：克里斯托弗·森布罗斯基：美国空军退役军人，太空爱好者。\n克里斯托弗·森布罗斯基是一名美国数据工程师，也是从美国空军退役的军人，目前居住在美国华盛顿州埃弗雷特。森布罗斯基现为洛克希德·马丁公司员工。作为一名业余天文学家和火箭专家，森布罗斯基一直对探索太空很感兴趣。\n他在本次飞行任务中作为“慷慨”精神的象征。\n驾驶员：西恩·普罗克特\n\n图注：西恩·普罗克特：地质学家。\n西恩·普罗克特是一位美国地质学教授，也是民间航空巡逻组织的主要成员。\n作为一位热情的科学知识传播者，普罗克特曾出现在三档教育类电视节目中，分别是2010年探索频道播出的《重建人类社会第二季》、2016年播出的《霍金天才实验室第二季》，以及《奇怪的证据》。\n她在本次飞行任务中作为“繁荣”精神的象征。\n四、二手载人龙飞船\n本次使用的“坚毅号”载人龙飞船，是去年11月，SpaceX首次正式载人飞行（Crew-1）任务中使用过的二手飞船。该飞船直径4米，高8.1米，最多可搭载7位宇航员，这与航天飞机搭载的宇航员数量相同，但到目前为止，最多也只搭载过4位宇航员。\n\n图注：运输途中的载人龙飞船。\n载人龙飞船属于SpaceX研制的第二代龙飞船（Dragon 2），具备可重复使用的能力。第二代龙飞船可分为载人龙飞船和货运龙飞船两种，其前身是第一代货运龙飞船（Dragon 1）。新飞船可以自动与空间站完成对接，而不像第一代飞船那样，需要借助空间站上的机械臂的帮助。当然，载人龙飞船也保留了人工对接的选项。本次太空旅游的目的地不是国际空间站，也就无需对接空间站了。\n五、安全有保障：龙飞船具备全程逃逸能力\n载人龙飞船集成有8个推力强大的“超级天龙座”火箭，火箭两为分组，安装在飞船的侧壁，作为逃生使用，每个发动机的推力可达71千牛，换算成大家有直观感觉的表示方式就是相当于7.1吨的推力。此外，还装有16个推力相对较小的“天龙座”发动机喷口，用于姿态控制和轨道机动。\n\n图注：载人龙飞船“飞行中止测试”试验（艺术图）。\n熟悉载人航天的朋友，可能会留意到，无论是阿波罗登月火箭，还是我国的长征2F载人运载火箭，在火箭顶部都有个逃逸塔。\n\n图注：阿波罗飞船的逃逸塔。\n逃逸塔的作用就是在火箭发射起始阶段，如果发生意外，可以启动逃逸塔火箭，把飞船带离到安全的高度，然后着陆。如果发射一切顺利，等火箭飞到一定的高度，逃逸塔会分离，然后丢弃。而载人版龙飞船相当于把逃逸塔集成在船身上，这样做有什么好处呢？\n这种方式能够使飞船具备“全程逃逸”的能力！也就是说，在飞船飞行的任何阶段出问题，都具备逃生能力，而逃逸塔只能保证火箭发射初始阶段的逃生。这也是未来载人飞船逃逸的新方式。\n六、安全有保障：稳定的猎鹰9（Block 5）火箭\n我们知道，SpaceX以可回收火箭名扬天下，这次芯一级使用的是三手猎鹰9（Block 5）火箭。\n猎鹰9（Block 5）是两级运载火箭，高度70米，以液氧和煤油为推进剂，芯一级火箭装配有9台梅林发动机，总推力7600千牛，相当于760吨。在回收一级的情况下，近地轨道的运载能力为15.6吨，不回收一级的情况下，近地轨道运载能力为22.8吨，算是一款中型运载火箭。\n截至到目前，猎鹰9（Block 5）仍然保持了100%成功的发射纪录。\n七、四名太空游客何时返回？\n\n图注：这是此前载人龙飞船返回地球，降落大海的情形。\n根据官方的计划，这四名太空游客将在发射三天后返回地球，也就是北京时间的9月19日。但也不排除临时推迟。届时，龙飞船将按照既定流程，在降落伞的拖曳下缓缓降落在大西洋上，等待救援队的到来。\n最后，预祝他们在太空玩得开心，平安返航。","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":942,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":888471639,"gmtCreate":1631523706921,"gmtModify":1676530565287,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/888471639","repostId":"2167306731","repostType":4,"isVote":1,"tweetType":1,"viewCount":1056,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887576254,"gmtCreate":1632088912578,"gmtModify":1676530695971,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/887576254","repostId":"1100031374","repostType":4,"repost":{"id":"1100031374","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1631587259,"share":"https://ttm.financial/m/news/1100031374?lang=en_US&edition=fundamental","pubTime":"2021-09-14 10:40","market":"us","language":"zh","title":"Reminder: The Mid-Autumn Festival market closure arrangement is here! Hong Kong stocks closed on the 22nd","url":"https://stock-news.laohu8.com/highlight/detail?id=1100031374","media":"老虎资讯综合","summary":"2021年中秋节假期即将来临！各主要市场休市安排如下：港股：\n\n\n9月22日（周三）休市。9月23日（周四）起照常开市。\n\n\nA股：\n\n\n9月20日（周一）至9月21日（周二）休市。9月22日（周三）起照常开市。\n\n\n美股、英股、澳股、新加坡股市照常交易。\n\n\n沪股通和深股通：\n\n\n9月17日（周五）至9月22日（周三）关闭。9月23日（周四）起照常开通。\n\n\n港股通：\n\n\n9月16日（周四）至9月22日（周三）关闭。9月23日（周四）起照常开通。","content":"<p>The 2021 Mid-Autumn Festival holiday is upon us! The closing arrangements of major markets are as follows:<img src=\"https://static.tigerbbs.com/a514042f0cc485274181ed3db4bcf541\" tg-width=\"1103\" tg-height=\"746\" width=\"100%\" height=\"auto\"><b>Hong Kong stocks:</b></p><p>The market is closed on Wednesday, September 22. The market will open as usual from September 23rd (Thursday).</p><p><b>A shares:</b></p><p>Closed from Monday, September 20th to Tuesday, September 21st. The market will open as usual from September 22nd (Wednesday).</p><p><b>U.S. stocks, British stocks, Australian stocks and Singapore stock markets traded as usual.</b></p><p><b>Shanghai Stock Connect and Shenzhen Stock Connect:</b></p><p>Closed Friday, September 17-Wednesday, September 22. It will be open as usual from September 23rd (Thursday).</p><p><b>Hong Kong Stock Connect:</b></p><p>Closed Thursday, September 16-Wednesday, September 22. It will be open as usual from September 23rd (Thursday).</p><p><img src=\"https://static.tigerbbs.com/75ca986d45037f1a0b113e295b82f3f9\" tg-width=\"2048\" tg-height=\"1311\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Reminder: The Mid-Autumn Festival market closure arrangement is here! Hong Kong stocks closed on the 22nd</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nReminder: The Mid-Autumn Festival market closure arrangement is here! Hong Kong stocks closed on the 22nd\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-09-14 10:40</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The 2021 Mid-Autumn Festival holiday is upon us! The closing arrangements of major markets are as follows:<img src=\"https://static.tigerbbs.com/a514042f0cc485274181ed3db4bcf541\" tg-width=\"1103\" tg-height=\"746\" width=\"100%\" height=\"auto\"><b>Hong Kong stocks:</b></p><p>The market is closed on Wednesday, September 22. The market will open as usual from September 23rd (Thursday).</p><p><b>A shares:</b></p><p>Closed from Monday, September 20th to Tuesday, September 21st. The market will open as usual from September 22nd (Wednesday).</p><p><b>U.S. stocks, British stocks, Australian stocks and Singapore stock markets traded as usual.</b></p><p><b>Shanghai Stock Connect and Shenzhen Stock Connect:</b></p><p>Closed Friday, September 17-Wednesday, September 22. It will be open as usual from September 23rd (Thursday).</p><p><b>Hong Kong Stock Connect:</b></p><p>Closed Thursday, September 16-Wednesday, September 22. It will be open as usual from September 23rd (Thursday).</p><p><img src=\"https://static.tigerbbs.com/75ca986d45037f1a0b113e295b82f3f9\" tg-width=\"2048\" tg-height=\"1311\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/75ca986d45037f1a0b113e295b82f3f9","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100031374","content_text":"2021年中秋节假期即将来临！各主要市场休市安排如下：港股：\n9月22日（周三）休市。9月23日（周四）起照常开市。\nA股：\n9月20日（周一）至9月21日（周二）休市。9月22日（周三）起照常开市。\n美股、英股、澳股、新加坡股市照常交易。\n沪股通和深股通：\n9月17日（周五）至9月22日（周三）关闭。9月23日（周四）起照常开通。\n港股通：\n9月16日（周四）至9月22日（周三）关闭。9月23日（周四）起照常开通。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":965,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887288728,"gmtCreate":1632045654264,"gmtModify":1676530692259,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/887288728","repostId":"2168508001","repostType":4,"isVote":1,"tweetType":1,"viewCount":1033,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":881294836,"gmtCreate":1631340121425,"gmtModify":1676530532700,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"?????","listText":"?????","text":"?????","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/881294836","repostId":"1144889232","repostType":4,"isVote":1,"tweetType":1,"viewCount":966,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3572046493348009","authorId":"3572046493348009","name":"Savage_Never","avatar":"https://static.tigerbbs.com/e8c5d3c6800ec12c32423a3100658845","crmLevel":11,"crmLevelSwitch":0,"idStr":"3572046493348009","authorIdStr":"3572046493348009"},"content":"Do the task hey hey hey ask for praise and comment crab crab","text":"Do the task hey hey hey ask for praise and comment crab crab","html":"Do the task hey hey hey ask for praise and comment crab crab"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814967233,"gmtCreate":1630745906422,"gmtModify":1676530389508,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/814967233","repostId":"2164874997","repostType":4,"repost":{"id":"2164874997","kind":"news","pubTimestamp":1630724967,"share":"https://ttm.financial/m/news/2164874997?lang=en_US&edition=fundamental","pubTime":"2021-09-04 11:09","market":"hk","language":"zh","title":"Xiaomi cars have to be faster","url":"https://stock-news.laohu8.com/highlight/detail?id=2164874997","media":"品玩","summary":"在小米宣布造车的5个多月时间里，外界一直在通过各种渠道——招聘信息、财报、发布会中，寻找小米造车的蛛丝马迹。\n9月1日上午，小米集团通过官方微博账号“小米公司发言人”宣布，小米汽车有限公司完成了工商注","content":"<p><img src=\"https://static.tigerbbs.com/bac5d2319bca533759f9ef2c93cb4821\" tg-width=\"645\" tg-height=\"295\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>In the more than five months since Xiaomi announced its car manufacturing, the outside world has been looking for clues about Xiaomi's car manufacturing through various channels-recruitment information, financial reports, and press conferences.</p><p>On the morning of September 1, Xiaomi Group passed the official<a href=\"https://laohu8.com/S/WB\">Weibo</a>The account \"Xiaomi Company Spokesperson\" announced that Xiaomi Automobile Co., Ltd. has completed industrial and commercial registration with a registered capital of 10 billion yuan. The legal representative of the company is Lei Jun, and the headquarters of Xiaomi Automobile is located in Beijing Economic Development Zone. This marks a key milestone for Xiaomi Automobile, which has attracted much attention.</p><p>Through map search, the location of \"No.15 Courtyard, Kechuang 10th Street, Beijing Economic and Technological Development Zone\" should be near Xiaomi Yizhuang Industrial Park.</p><p><img src=\"https://static.tigerbbs.com/bbcbedf631ab392da3f269084e2f8477\" tg-width=\"750\" tg-height=\"430\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>However, although the registration place is in Beijing, the automobile industry chain usually does have headquarters, R&D centers, and even different factories set up in different cities. Therefore, this does not mean that Xiaomi's factory will be set up in Beijing Economic and Technological Development Zone.</p><p>There is currently no specific information about the landing of the factory. Even if the manufacturing model adopts a self-built approach, acquiring the existing production capacity of other brands, or cooperating with OEM, it will also determine the next landing rhythm of Xiaomi Automobile.</p><p>When the company was officially established, Lei Jun also released a photo of the \"core team\" on Weibo, so the specific information of the other 16 people except Lei Jun in the photo was quickly pulled out. It can be seen that the outside world is curious about Xiaomi's car-making team.</p><p><img src=\"https://static.tigerbbs.com/fe0a56b8d18eb3745903494927fb9b77\" tg-width=\"750\" tg-height=\"499\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>In this exposed core member information, it can be noted that most of the members come from various business sectors of Xiaomi, and there are many old employees who have worked for Xiaomi for nearly 10 years. Only Li Tianyuan (third from right in the back row) is the only person who was \"poached\" in the photo. Li Tianyuan was a former BMW iX designer and also served as a BMW platform at the Shanghai Auto Show in April this year.</p><p>As the only one from the OEM, Li Tianyuan's appearance makes the information conveyed by this photo more three-dimensional.</p><p>Judging from the distribution of group photo talents, the shortage of professionals in the automotive field is probably still a big problem. According to public reports, Xiaomi has recruited senior executives in the automobile industry, but their identities have not yet been disclosed.</p><p>As can be seen from this photo, about<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Chains such as cockpit, autonomous driving team preparation, and supply chain preparation have been completed. The prototype of Xiaomi cars may be able to advance rapidly.</p><p>Xiaomi's official information shows that the Xiaomi car team has formed a team of about 300 people.</p><p>Large-scale recruitment is still going on, with L4 autonomous driving technology teams having the greatest demand. It can be seen that Xiaomi is still building a core technical team. As for the marketing team and public relations team, it seems that they have not been involved yet.</p><p>Xiaomi Group also announced on August 25 that it acquired DEEPMOTION TECH, an autonomous driving technology company, with a total transaction value of nearly US $77.37 million. This is also the largest acquisition since Xiaomi announced its car manufacturing.</p><p>At the same time, Xiaomi has also made a series of investments in the layout of the supply chain. Including leading the investment in domestic lidar manufacturer Hesai Technology, and investing in intelligent driving technology and product supplier Zongmu Technology; In the energy supply chain, invest in Honeycomb Energy and<a href=\"https://laohu8.com/S/002460\">Ganfeng Lithium</a>； In terms of intelligent transportation, we invest in Zongmu Technology and Ai Parking. However, compared with the wholly-owned acquisition of Shendong Technology, Xiaomi's earlier investments are more like financial investments.</p><p>At the same time, compared with the intensity of car manufacturing announced at the same time (<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>+ Geely), Xiaomi's progress in car manufacturing is not fast.</p><p>Two days before the news of Xiaomi Auto was released, Xia Yiping, CEO of Jidu Auto, posted the wind tunnel map of the first automobile product on Weibo, which means that the modeling of Jidu's first product has been completed. This is the 182nd day after Jidu announced the manufacture of the car, and the modeling of the first product lasted 6 months.</p><p><img src=\"https://static.tigerbbs.com/5c3b12da34142d6a5de4ec8efa207dee\" tg-width=\"750\" tg-height=\"665\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Of course, compared with Xiaomi's wholly-owned car manufacturing, Jidu has two major shareholders of Internet company Baidu and car manufacturing company Geely. It also has ready-made autonomous driving technologies Baidu Apollo and Geely's vast architecture.</p><p>The two are following completely two modes in the new round of car manufacturing, but they are facing the same problem: a race against time.</p><p>Jidu has announced the debut time of the first model, which is expected to be held at the Beijing Auto Show in April next year, and Xiaomi is still pondering the positioning of the first model.</p><p>Lei Jun once revealed that Xiaomi's first model will be launched within three years. Then take a few years ago<a href=\"https://laohu8.com/S/NIO\">Nio</a>It is obviously inappropriate to measure Xiaomi by XPeng's entrepreneurial speed. As the first batch of new car manufacturers, Nio and XPeng have completed multiple stages such as market reclamation, reversing user brand awareness, subverting retail models, and user experience. The market's awareness of them started from scratch. In other words, at the beginning of starting businesses in Nio and XPeng, the outside world did not have high expectations for them, and to some extent, the products they launched were less \"burdened\".</p><p>However, the outside world has expectations for Xiaomi cars.</p><p>Under the Weibo where Lei Jun released the \"core team\", the voice from users for \"the first car for young people\" is very high. Before Xiaomi Auto has found its correct positioning, users have already helped it locate it.</p><p>Zhu Yulong, an electric vehicle three-electric engineer, also believes that in the field of smart electric vehicles, Xiaomi's latecomer will also have certain advantages-through the current new forces' style of play, which ones are effective and those need to be improved, which can be avoided in talent mix and team components.</p><p>In addition, in today's automobile market, there are Weimar and Leapmotor who position themselves as \"Xiaomi in the automobile industry\". I'm afraid that by the time Xiaomi's new car comes out, there will be countless \"first cars for young people\" on the market. Can Xiaomi Motors still firmly grasp this market by then?</p><p>On the other hand, the outside world's expectations for Xiaomi also hope that it can have an excellent experience in smart cockpits, which may directly determine the market reputation of Xiaomi cars. By then, including<a href=\"https://laohu8.com/S/AAPL\">Apple</a>, Huawei, may be potential rivals of Xiaomi. Can Xiaomi stand out smoothly?</p><p>Recently, the news of Apple's contact with Toyota has spread like wildfire, and it has aimed its supply chain layout at Asia, including contact with LG Electronics,<a href=\"https://laohu8.com/S/300750\">Ningde era</a>Etc.</p><p>Xiaomi has no sense of urgency at all.</p>","source":"pw","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Xiaomi cars have to be faster</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nXiaomi cars have to be faster\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">品玩</strong><span class=\"h-time small\">2021-09-04 11:09</span>\n</p>\n</h4>\n</header>\n<article>\n<p><img src=\"https://static.tigerbbs.com/bac5d2319bca533759f9ef2c93cb4821\" tg-width=\"645\" tg-height=\"295\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>In the more than five months since Xiaomi announced its car manufacturing, the outside world has been looking for clues about Xiaomi's car manufacturing through various channels-recruitment information, financial reports, and press conferences.</p><p>On the morning of September 1, Xiaomi Group passed the official<a href=\"https://laohu8.com/S/WB\">Weibo</a>The account \"Xiaomi Company Spokesperson\" announced that Xiaomi Automobile Co., Ltd. has completed industrial and commercial registration with a registered capital of 10 billion yuan. The legal representative of the company is Lei Jun, and the headquarters of Xiaomi Automobile is located in Beijing Economic Development Zone. This marks a key milestone for Xiaomi Automobile, which has attracted much attention.</p><p>Through map search, the location of \"No.15 Courtyard, Kechuang 10th Street, Beijing Economic and Technological Development Zone\" should be near Xiaomi Yizhuang Industrial Park.</p><p><img src=\"https://static.tigerbbs.com/bbcbedf631ab392da3f269084e2f8477\" tg-width=\"750\" tg-height=\"430\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>However, although the registration place is in Beijing, the automobile industry chain usually does have headquarters, R&D centers, and even different factories set up in different cities. Therefore, this does not mean that Xiaomi's factory will be set up in Beijing Economic and Technological Development Zone.</p><p>There is currently no specific information about the landing of the factory. Even if the manufacturing model adopts a self-built approach, acquiring the existing production capacity of other brands, or cooperating with OEM, it will also determine the next landing rhythm of Xiaomi Automobile.</p><p>When the company was officially established, Lei Jun also released a photo of the \"core team\" on Weibo, so the specific information of the other 16 people except Lei Jun in the photo was quickly pulled out. It can be seen that the outside world is curious about Xiaomi's car-making team.</p><p><img src=\"https://static.tigerbbs.com/fe0a56b8d18eb3745903494927fb9b77\" tg-width=\"750\" tg-height=\"499\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>In this exposed core member information, it can be noted that most of the members come from various business sectors of Xiaomi, and there are many old employees who have worked for Xiaomi for nearly 10 years. Only Li Tianyuan (third from right in the back row) is the only person who was \"poached\" in the photo. Li Tianyuan was a former BMW iX designer and also served as a BMW platform at the Shanghai Auto Show in April this year.</p><p>As the only one from the OEM, Li Tianyuan's appearance makes the information conveyed by this photo more three-dimensional.</p><p>Judging from the distribution of group photo talents, the shortage of professionals in the automotive field is probably still a big problem. According to public reports, Xiaomi has recruited senior executives in the automobile industry, but their identities have not yet been disclosed.</p><p>As can be seen from this photo, about<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Chains such as cockpit, autonomous driving team preparation, and supply chain preparation have been completed. The prototype of Xiaomi cars may be able to advance rapidly.</p><p>Xiaomi's official information shows that the Xiaomi car team has formed a team of about 300 people.</p><p>Large-scale recruitment is still going on, with L4 autonomous driving technology teams having the greatest demand. It can be seen that Xiaomi is still building a core technical team. As for the marketing team and public relations team, it seems that they have not been involved yet.</p><p>Xiaomi Group also announced on August 25 that it acquired DEEPMOTION TECH, an autonomous driving technology company, with a total transaction value of nearly US $77.37 million. This is also the largest acquisition since Xiaomi announced its car manufacturing.</p><p>At the same time, Xiaomi has also made a series of investments in the layout of the supply chain. Including leading the investment in domestic lidar manufacturer Hesai Technology, and investing in intelligent driving technology and product supplier Zongmu Technology; In the energy supply chain, invest in Honeycomb Energy and<a href=\"https://laohu8.com/S/002460\">Ganfeng Lithium</a>； In terms of intelligent transportation, we invest in Zongmu Technology and Ai Parking. However, compared with the wholly-owned acquisition of Shendong Technology, Xiaomi's earlier investments are more like financial investments.</p><p>At the same time, compared with the intensity of car manufacturing announced at the same time (<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>+ Geely), Xiaomi's progress in car manufacturing is not fast.</p><p>Two days before the news of Xiaomi Auto was released, Xia Yiping, CEO of Jidu Auto, posted the wind tunnel map of the first automobile product on Weibo, which means that the modeling of Jidu's first product has been completed. This is the 182nd day after Jidu announced the manufacture of the car, and the modeling of the first product lasted 6 months.</p><p><img src=\"https://static.tigerbbs.com/5c3b12da34142d6a5de4ec8efa207dee\" tg-width=\"750\" tg-height=\"665\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Of course, compared with Xiaomi's wholly-owned car manufacturing, Jidu has two major shareholders of Internet company Baidu and car manufacturing company Geely. It also has ready-made autonomous driving technologies Baidu Apollo and Geely's vast architecture.</p><p>The two are following completely two modes in the new round of car manufacturing, but they are facing the same problem: a race against time.</p><p>Jidu has announced the debut time of the first model, which is expected to be held at the Beijing Auto Show in April next year, and Xiaomi is still pondering the positioning of the first model.</p><p>Lei Jun once revealed that Xiaomi's first model will be launched within three years. Then take a few years ago<a href=\"https://laohu8.com/S/NIO\">Nio</a>It is obviously inappropriate to measure Xiaomi by XPeng's entrepreneurial speed. As the first batch of new car manufacturers, Nio and XPeng have completed multiple stages such as market reclamation, reversing user brand awareness, subverting retail models, and user experience. The market's awareness of them started from scratch. In other words, at the beginning of starting businesses in Nio and XPeng, the outside world did not have high expectations for them, and to some extent, the products they launched were less \"burdened\".</p><p>However, the outside world has expectations for Xiaomi cars.</p><p>Under the Weibo where Lei Jun released the \"core team\", the voice from users for \"the first car for young people\" is very high. Before Xiaomi Auto has found its correct positioning, users have already helped it locate it.</p><p>Zhu Yulong, an electric vehicle three-electric engineer, also believes that in the field of smart electric vehicles, Xiaomi's latecomer will also have certain advantages-through the current new forces' style of play, which ones are effective and those need to be improved, which can be avoided in talent mix and team components.</p><p>In addition, in today's automobile market, there are Weimar and Leapmotor who position themselves as \"Xiaomi in the automobile industry\". I'm afraid that by the time Xiaomi's new car comes out, there will be countless \"first cars for young people\" on the market. Can Xiaomi Motors still firmly grasp this market by then?</p><p>On the other hand, the outside world's expectations for Xiaomi also hope that it can have an excellent experience in smart cockpits, which may directly determine the market reputation of Xiaomi cars. By then, including<a href=\"https://laohu8.com/S/AAPL\">Apple</a>, Huawei, may be potential rivals of Xiaomi. Can Xiaomi stand out smoothly?</p><p>Recently, the news of Apple's contact with Toyota has spread like wildfire, and it has aimed its supply chain layout at Asia, including contact with LG Electronics,<a href=\"https://laohu8.com/S/300750\">Ningde era</a>Etc.</p><p>Xiaomi has no sense of urgency at all.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202109032022227d51ffe6&s=b\">品玩</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/bac5d2319bca533759f9ef2c93cb4821","relate_stocks":{"01810":"小米集团-W"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202109032022227d51ffe6&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164874997","content_text":"在小米宣布造车的5个多月时间里，外界一直在通过各种渠道——招聘信息、财报、发布会中，寻找小米造车的蛛丝马迹。\n9月1日上午，小米集团通过官方微博账号“小米公司发言人”宣布，小米汽车有限公司完成了工商注册，注册资本为100亿元，公司法定代表人为雷军，小米汽车总部落户北京经济开发区。这标志着备受关注的小米汽车迎来了关键性的里程碑。\n通过地图检索，“北京经济技术开发区科创十街15号院”这个位置应该就是小米亦庄产业园附近。\n\n不过虽然注册地放在了北京，但汽车产业链通常确实存在总部、研发中心，甚至是不同工厂分别设立在不同城市的情况，所以目前这也并不意味着小米的工厂将设立在北京经济技术开发区。\n关于工厂的落地，目前也还无具体信息。甚至制造模式采取自建的方式，收购其他品牌现有产能，还是合作代工，也都将决定小米汽车接下来的落地节奏。\n官宣公司成立之际，雷军还在微博上放出的一张“核心团队”照片，所以很快就被扒出照片中除雷军以外其他16人的具体信息。可见，外界对小米造车团队的好奇心。\n\n在这份被曝光的核心成员信息中，可以注意到，其中大部分成员来自小米各个业务板块，并且有多位已经在小米就职近10年的老员工，只有位于后排的李田原（后排右三）是唯一一个照片中被“挖来”的人，李田原曾任宝马iX设计师，在今年4月的上海车展上还曾为宝马站台。\n李田原作为其中唯一一个来自于主机厂的人，他的出现让这张照片所传递的信息更加立体。\n从合影人才分布的情况来看，汽车领域专业人才的紧缺恐怕还是一大问题。据公开报道称，小米已经招募到汽车产业资深高管，只是尚未公开身份。\n从这张照片中可以看出，关于智能座舱、自动驾驶团队筹备、供应链筹备等链条已经搭建完成。小米汽车的雏形或许可以快速推进了。\n小米的官方信息显示，小米汽车团队已组成了约300人的团队。\n大规模招人还在持续，其中以L4级自动驾驶技术团队的需求最大。可见，目前小米仍然在组建核心技术团队。而关于营销团队和公关团队，似乎还并未涉及。\n小米集团还在8月25日发布公告，以近7737万美元的总交易额收购了自动驾驶技术公司深动科技(DEEPMOTION TECH)，这也是小米宣布造车以来最大的一笔收购案。\n同时，在供应链的布局上，小米还进行了一系列投资。包括领投国内激光雷达厂商禾赛科技，入股智能驾驶技术及产品供应商纵目科技；在能源供应链上，投资蜂巢能源和赣锋锂业；智能交通方面，投资纵目科技和爱泊车。不过相比深动科技的全资收购，小米更早出手的几笔投资更像是财务投资。\n与其同时，相比于同时期宣布造车的集度（百度+吉利），小米造车的进展并不算快。\n在小米汽车消息发布的两天前，集度汽车CEO夏一平在微博中晒出了首款汽车产品风洞图，这意味着集度首款产品的造型已经完成。这是集度宣布造车后的第182天，首款产品造型历时6个月时间。\n\n当然相比于小米全资造车，集度则是拥有互联网公司百度和造车公司吉利两大股东，同时也拥有了现成的自动驾驶技术百度Apollo和吉利的浩瀚架构。\n两者在新一轮造车中走的完全是两种模式，但是他们面对着同样的问题：和时间赛跑。\n集度已经宣布了首款车型的亮相时间，预计在明年4月北京车展，而小米现在还在琢磨首款车型的定位。\n雷军曾透露，小米首款车型力争三年内推出。到时候再拿几年前蔚来、小鹏的创业速度来衡量小米显然已经不合适了。蔚来、小鹏作为第一批新造车企业，完成了市场开荒、扭转用户品牌认知、颠覆零售模式、用户体验等多个阶段，市场对他们的认知是从零开始的。或者说，在蔚来、小鹏创业伊始，外界对其抱有的期待不高，某种程度上也让其推出的产品少了很多“包袱”。\n但是，外界对小米汽车是有期待的。\n在雷军发布“核心团队”的微博下面，来自用户“年轻人第一辆车”的呼声甚高，在小米汽车还没找准定位时，用户已经帮它定位了。\n电动汽车三电工程师朱玉龙也认为，如今在智能电动车领域，小米后发也会具备一定的优势——可以通过当前新势力的打法，哪些是有效的，那些是待改进的，可以在人才组合和团队构件中进行规避。\n另外，如今汽车市场上，将自己定位为“汽车界小米”的就有威马、零跑，恐怕等到小米新车问世，市场上“年轻人的第一辆车”已经数不胜数了。小米汽车届时还能稳稳的拿捏住这个市场吗？\n另一方面，外界对小米的期待，还希望它能在智能座舱方面有出色的体验，这一点，或许将直接决定小米汽车的市场口碑。届时，包括苹果、华为，可能都是小米的潜在对手，小米能够顺利脱颖而出吗？\n近日，苹果接触丰田的消息不胫而走，并且将供应链的布局瞄准亚洲，包括接触LG电子、宁德时代等。\n小米的紧迫感可一点儿都不少。","news_type":1,"symbols_score_info":{"48657":0.9,"48708":0.9,"48717":0.9,"48730":0.9,"48754":0.9,"01810":0.9}},"isVote":1,"tweetType":1,"viewCount":1044,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816884060,"gmtCreate":1630487341750,"gmtModify":1676530317267,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/816884060","repostId":"2164867980","repostType":4,"isVote":1,"tweetType":1,"viewCount":470,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9956617303,"gmtCreate":1673992237102,"gmtModify":1676538912606,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9956617303","isVote":1,"tweetType":1,"viewCount":357,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9961185043,"gmtCreate":1668895013282,"gmtModify":1676538124055,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/SQQQ\">$纳指三倍做空ETF(SQQQ)$&nbsp;</a><v-v data-views=\"0\"></v-v>","listText":"<a href=\"https://ttm.financial/S/SQQQ\">$纳指三倍做空ETF(SQQQ)$&nbsp;</a><v-v data-views=\"0\"></v-v>","text":"$纳指三倍做空ETF(SQQQ)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9961185043","isVote":1,"tweetType":1,"viewCount":639,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9985500589,"gmtCreate":1667424607741,"gmtModify":1676537913855,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/SOXL\">$三倍做多半导体ETF-Direxion Daily(SOXL)$</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/SOXL\">$三倍做多半导体ETF-Direxion Daily(SOXL)$</a><v-v data-views=\"1\"></v-v>","text":"$三倍做多半导体ETF-Direxion Daily(SOXL)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9985500589","isVote":1,"tweetType":1,"viewCount":805,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4129515130099342","authorId":"4129515130099342","name":"Tony13141111","avatar":"https://community-static.tradeup.com/news/679e74b98ae2ceef7bbb4a1ee6633fbd","crmLevel":1,"crmLevelSwitch":0,"idStr":"4129515130099342","authorIdStr":"4129515130099342"},"content":"At present, the market is still in a downward trend. At present, SOXL can operate short-term, or hedge the risk of positive stocks.","text":"At present, the market is still in a downward trend. At present, SOXL can operate short-term, or hedge the risk of positive stocks.","html":"At present, the market is still in a downward trend. At present, SOXL can operate short-term, or hedge the risk of positive stocks."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9937559154,"gmtCreate":1663470264578,"gmtModify":1676537275263,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/SOFI\">$SoFi Technologies Inc.(SOFI)$</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/SOFI\">$SoFi Technologies Inc.(SOFI)$</a><v-v data-views=\"1\"></v-v>","text":"$SoFi Technologies Inc.(SOFI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9937559154","isVote":1,"tweetType":1,"viewCount":352,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9991993128,"gmtCreate":1660773224366,"gmtModify":1676536393520,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/BBIG\">$Vinco Ventures, Inc.(BBIG)$</a><v-v data-views=\"1\"></v-v>👍","listText":"<a href=\"https://ttm.financial/S/BBIG\">$Vinco Ventures, Inc.(BBIG)$</a><v-v data-views=\"1\"></v-v>👍","text":"$Vinco Ventures, Inc.(BBIG)$👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9991993128","isVote":1,"tweetType":1,"viewCount":685,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887920910,"gmtCreate":1631960270130,"gmtModify":1676530678830,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/887920910","repostId":"2168957109","repostType":4,"isVote":1,"tweetType":1,"viewCount":1044,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":882266738,"gmtCreate":1631697047624,"gmtModify":1676530611581,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/882266738","repostId":"1148030034","repostType":4,"repost":{"id":"1148030034","kind":"news","pubTimestamp":1631685632,"share":"https://ttm.financial/m/news/1148030034?lang=en_US&edition=fundamental","pubTime":"2021-09-15 14:00","market":"sh","language":"zh","title":"Heavy interpretation! Causes and Antidotes of Global Supply Chain Dilemma","url":"https://stock-news.laohu8.com/highlight/detail?id=1148030034","media":"中欧商业评论","summary":"大多数消费者目前似乎还没有强烈感受到，全球几乎所有企业正在遭受的巨大挑战——全球供应链产生严重瓶颈所带来的紧张短缺、部分断裂的问题。这个问题不仅由于新冠疫情持续演变，也因过去商业模式所遗留下来的内在缺","content":"<p>At present, most consumers don't seem to feel strongly the huge challenge that almost all enterprises around the world are suffering from-the problem of tight shortages and partial disruptions caused by serious bottlenecks in global supply chains. This problem is caused not only by the continuous evolution of COVID-19 pandemic, but also by the inherent defects left over by past business models and new geopolitical conflicts. For example, in the face of the continued shortage of semiconductor chips, Toyota announced this month that it would cut its global automobile production by 40%. Despite strong demand for products, metal components, plastics, and other raw materials are not available at factories around the world. Construction companies are paying more for paint, wood and hardware, but have to wait weeks or even months to receive it... What's even more worrying is that prices are starting to rise due to supply chain bottlenecks, which are likely to exacerbate global currency Inflation caused by overissuance. Faced with severe challenges, China-Europe Business Review specially invited two professors, Li Ping and Shi Yongjiang, to explain the underlying causes of serious bottlenecks in the global supply chain and put forward feasible solutions to these problems. Delays, product shortages and rising costs have continued to plague businesses large and small and their users in recent months.</p><p>Managers and consumers have also begun to face an experience that was once rare in modern society: on the one hand, a large number of orders poured in, resulting in an instantaneous shortage of capacity and then panic and anxiety; On the other hand, due to the inability to coordinate actions between the upstream, midstream and downstream of the supply chain, upstream raw materials are out of stock, midstream work-in-progress is backlogged, and downstream finished products cannot be offshore due to lack of transportation capacity.</p><p>Now, we can't help but ask, what is the reason for the current supply chain bottleneck?</p><p><b>Source of bottleneck</b></p><p><i>The short-term strong rebound in market demand is one of the most direct reasons for the tight global supply chain.</i></p><p>There is persistent unusual uncertainty in the prospects for global economic recovery, and \"supply chain bottlenecks\" are precisely the core factor of this uncertainty.</p><p>If the shortage persists into next year, it is likely to drive up the prices of a range of commodities. At present, the central banks of all countries are concerned about the potential inflation problem, and no one can fully confidently answer one of them. Shortages and delays only appear briefly with the economic recovery? Or will it become a serious hidden danger that lasts for a long time?</p><p>On the surface, the recent strong rebound in market demand is one of the most direct factors or reasons leading to the tension of global supply chains. This problem largely reflects the abnormal changes in market demand.</p><p>Consumers in the United States and other rich countries are confined to their homes by COVID-19 pandemic, which drives them to buy products such as game consoles, treadmills and kitchen supplies for their homes, thus leading to insufficient supply of related products.</p><p>In addition, due to COVID-19 pandemic, people can't travel on vacation, so the savings in this area are diverted to other products, which also leads to insufficient supply of related products.</p><p>Thirdly, COVID-19 pandemic subsidies issued by governments such as the United States have increased consumers' purchasing power and willingness at the same time, further increasing the degree of insufficient supply.</p><p>During the epidemic, affected by various blockade measures, the global supply chain will inevitably be under pressure. In addition to China, Southeast Asia is an important link in the global supply chain. Due to the recent rebound of the epidemic, economic production activities have been severely hindered, among which Vietnam, Malaysia and other countries are the most serious. Almost all Vietnam is in a state of social isolation, and its manufacturing industry is facing three major crises: worker loss, order loss, and capital loss.</p><p>Of course, in addition to the epidemic, extreme weather and natural disasters will also have a negative impact on the supply chain. However, this is only an external problem caused by natural disasters, and the most serious problem is the supply itself.</p><p>Most companies underestimate the recent strong rebound in market demand and have not booked enough spare parts and raw materials in advance, so they cannot increase supply and output in the short term.</p><p><img src=\"https://static.tigerbbs.com/aaac9405b608d58c20a650004d1a9c25\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>For example, all automobile companies in the world thought that this COVID-19 pandemic would seriously reduce and delay the market's purchase of automobiles, so they greatly reduced the purchase orders of spare parts. However, they never expected that the market demand would rebound strongly in a short period of time, resulting in the current There is a serious shortage of spare parts and cannot meet the market demand. This belongs to the judgment error of enterprise managers and human error.</p><p>In the spring of 2020, the automobile industry cut production significantly, and when the Chinese market showed an amazing recovery momentum, an executive of a large Chinese automobile company said that the automobile industry \"only ordered semiconductors and other components for three months, and did not draw up an optimistic production plan.\"</p><p>At the same time, the market demand in different industries rebounded almost simultaneously, which also caught most enterprises off guard. The severe global shortage of semiconductor chips is closely related to this.</p><p>Because the automotive industry has not arranged orders in advance, it is currently difficult to obtain the chips it needs, because most of the limited chip production capacity has shifted to the more profitable electronics industry. An unexpected increase in TV orders in Canada or Japan has exacerbated the chip shortage, forcing automakers to slow down production from South Korea to Germany to Brazil.</p><p>What has a far-reaching impact is the political factors beyond the control of enterprises. An important start to the global semiconductor shortage is the U.S. government's sanctions on mainland Chinese companies. OEM companies such as SMIC (SMIC) have become targets of sanctions, and orders have concentrated on Taiwanese companies centered on the world's largest Taiwan Semiconductor Manufacturing Company (TSMC).</p><p>Qualcomm of the United States took quick action and successively visited Taiwanese semiconductor companies such as TSMC and United China Electronics (UMC), placing a large number of orders to replace SMIC. In addition, as the U.S. government tightened sanctions on Huawei, Taiwanese companies such as TSMC have entered a rare busy period since July, because Huawei placed an unusually large number of orders in advance and rushed to stock up on goods before the new sanctions were launched in September. Required chips.</p><p><b>Difficulties of shipping</b></p><p><i>Serious bottlenecks in transportation have led to difficulty in finding transportation capacity, skyrocketing freight rates and delivery delays.</i></p><p>What makes the above difficulties worse are the huge challenges in the shipping field.</p><p>Specifically, starting in March this year, as global shipping costs soared, many commodities became scarce, resulting in a large number of containers overwhelming the shipping industry. First, a giant cargo ship ran aground in the Suez Canal, blocking hundreds of cargo ships, causing a week's interruption to traffic on an important waterway connecting Europe and Asia. The negative impact of the Suez Canal, which is the gateway for about 12% of world trade, lasted for many months, adding to the disruption of the maritime industry.</p><p>Later, a series of temporary closures of Chinese ports related to COVID-19 pandemic (including Shenzhen, Yantai, Ningbo, etc.) aggravated this confusion. A large number of products need to be shipped from Chinese ports to various countries around the world. The closure of these ports has become a snowball event that ripples across the world, even threatening the supply of goods for Black Friday promotions after Thanksgiving in American stores.</p><p>Coupled with the surge in global consumer demand, the order volume of the shipping industry continues to increase. The arrival volume at U.S. ports continues to hit records, but due to the lack of workers, containers, and ships, port congestion has occurred, resulting in major delays in logistics. For example, because containers shipped to Los Angeles can't be unloaded, soybeans in Iowa have no containers to ship, and buyers in Indonesia can only wait, thus triggering a shortage of animal feed in Southeast Asia.</p><p>Cheap and reliable shipping has long been an important part of international trade, allowing manufacturers to shift production around the world in search of low-wage labor and cheap raw materials. But since COVID-19 pandemic, the cost of shipping goods from Asia to the United States has risen tenfold.</p><p><img src=\"https://static.tigerbbs.com/f6889cf56496f4337b656dcfd7a8db85\" tg-width=\"1080\" tg-height=\"622\" referrerpolicy=\"no-referrer\"></p><p>Before the epidemic, it cost US $6,000-7,000 to ship a 40-foot container from Shanghai to the Midwest of the United States, but the freight cost of the next batch of goods scheduled to leave China in mid-September is already at least US $26,000; Coupled with the difficulties of rail and trucking in the United States, freight rates are likely to go up to $35,000.</p><p>Typically, the peak demand for trans-Pacific freight begins in late summer and ends in winter, that is, after the cargo is ready during the year-end holidays. But last winter, the peak of freight demand never ended, and now it has converged with the shopping surge during this year's holiday season, exacerbating the pressure on factories, warehouses, cargo ships and trucks.</p><p>Nowadays, the current situation in China has aggravated people's worries about the future prospects. Many enterprises face abnormal phenomena that have not been encountered in decades. On the one hand, the order production is too busy; on the other hand, the product inventory is seriously overstocked and cannot be shipped. This is because there are serious bottlenecks in transportation, hard to find transportation capacity, skyrocketing freight rates, and delivery delays.</p><p>What is even more worrying is that due to supply chain bottlenecks, prices have begun to rise, which is likely to aggravate inflation caused by global currency overissuance. This is the consequence that everyone is most worried about and least wants to see.</p><p><b>Deep difficulties</b></p><p><i>Global companies will face profound challenges for a long time and need to restructure the global supply chain of their own businesses.</i></p><p>Influenced by the success of Toyota's production model, many companies have adopted lean production mode and Just in Time/JIT mode to minimize inventory and other waste. This is very effective in cutting costs and increasing profits, but it also leaves little room for correcting errors.</p><p>Relevant studies found that from 1981 to 2000, American companies reduced their inventories by an average of 2% every year, and the saved costs were used to buy back listed stocks, further pushing up the stock market price. If the enterprise is in a relatively stable situation, such as the long-term peaceful development stage after World War II, Toyota's production model is extremely effective.</p><p>Once the situation becomes highly chaotic, especially in the VUCA + era (variability, uncertainty, complexity, ambiguity and novelty), the inherent flaws of Toyota's production model will be increasingly exposed. Once there is a problem in any part of the supply chain system, the whole system will have bottlenecks and even breaks to varying degrees.</p><p>In other words, because Toyota's production model is built on the underlying logic of tight coupling in the field of resource management, this model seriously lacks resilience and lacks the ability to respond timely and rebound quickly after encountering sudden crises. Coupling can only play a high-efficiency role in high-latitude scenarios.</p><p>But scene changes, especially sudden changes, turn this coupling into a shackle, hindering the development of adaptability. This deep-seated problem should be raised to the height of paradigm transformation (i.e. VUCA + paradigm), paid enough attention to, and effectively solved as soon as possible. This is the first deep reason for the current supply chain bottleneck.</p><p>The second deep reason is more profound, that is, the unsustainable development of the previous globalization paradigm itself. The core connotation of this problem is that global production and supply are too concentrated in a few countries, or even only one country (such as China becoming the so-called \"world factory\"), just for the largest market and the lowest labor cost.</p><p>The world has learned a painful lesson: the otherwise relatively independent and diverse economies thousands of miles apart are so tied together that delays and shortages in any place will spread to almost everywhere else in the world, and no one is spared. This COVID-19 pandemic most vividly reflects the drawbacks of this economic development paradigm, which have been deliberately ignored or even maliciously covered up by people for a long time.</p><p><img src=\"https://static.tigerbbs.com/db6eab0fab28134ec77b33b485e11a4c\" tg-width=\"600\" tg-height=\"379\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>In other words, out of greedy nature, short-term capital, under the banner that globalization is beneficial to people all over the world, uses the business model that is most beneficial to the capital, pursues the maximization of a single financial return, deliberately ignores or even maliciously covers up the potential risks and harms caused by this paradigm to society, especially for the long-term interests of other stakeholders.</p><p>The global layout of the supply chain objectively leads to the geographical long distance between production supporting facilities and retail consumption, multiple links of logistics and distribution, and the increase of operational complexity. The direct consequence is the increase of operational risks and difficulty in controlling them. At present, the bottleneck of shipping also vividly reflects what is wrong with the global economic development paradigm.</p><p>A UK company that makes sealing machines for packaged food is struggling because it can't secure the supply of the components it needs. The company's suppliers in Japan could deliver key equipment in four to six weeks, but now it takes half a year. And that Japanese supplier has been trying to ensure the electronic components it needs, most of which are produced in Asia and cannot be replaced elsewhere. Coupled with automakers' desperate desire to get chips, it makes it harder for companies in other industries to get parts that are already in severe shortage. This is the embodiment of close coupling in the field of geographical layout, and it is the second deep reason.</p><p>The third deep-seated reason is related to the rise of China after globalization. After the end of the Cold War, Fukuyama and others believed that history had come to an end, and the market economy and * 's * would become a unified template for future development. However, no one expected that since China joined the WTO, it not only became even more powerful, but also began to quietly create its own rules of the game, which challenged the existing global economic system.</p><p>This eventually triggered a fierce Sino-US trade war and a series of subsequent geopolitically oriented side-selection, which caused China and western developed countries to part ways in terms of economy and political system. Under this basic pattern, no matter Chinese multinational companies or local companies, or multinational companies in other countries, they are all facing an unprecedented profound challenge, that is, how to reconstruct the global supply chain of their own businesses.</p><p><b>The situation of reconstruction</b></p><p><i>The long-term response strategy of supply chain bottlenecks should take organizational resilience as its underlying logic.</i></p><p>We believe that the short-term response strategy to supply chain bottlenecks is based on overcoming the immediate difficulties. From the perspective of how Chinese enterprises should respond, we put forward some alternative strategies.</p><p><ul><li>Chinese enterprises that encounter delivery delays should strive to renegotiate new contracts with the other party, and urge the other party to understand the difficulties caused by special situations, especially those caused by force majeure conditions (rather than their own human errors), and minimize compensation for losses.</p><p></li><li>Chinese enterprises need to pay special attention to cash flow, ensure that they have basically sufficient liquidity, and avoid the break of the capital chain, so as to successfully tide over the difficulties.</p><p></li><li>Chinese enterprises can make full use of the government's current policy of supporting \"specialized, special and new little giant\" enterprises, strengthen the necessary research and development to break through technical bottlenecks, strive to build themselves, and become future invisible (single/refined) champions. We believe that this is the most significant national policy at present and for a long time to come, and we hope to attract the attention of more Chinese enterprises.</p><p></li></ul>On the other hand, we advocate that the long-term response strategy to supply chain bottlenecks should take organizational resilience as its underlying logic, so as to overcome various problems caused by the underlying reasons mentioned above, including real-time production models, excessive geographical concentration, and serious conflict between China and the United States.</p><p>The definition of resilience varies in different fields, but it is basically the same. The core essence of toughness is the ability to rebound: the higher the toughness, the greater the potential to continue functioning under deformation pressure. However, in the field of management, the concept of resilience has been extended and developed, mainly in terms of surpassing the ability to rebound.</p><p>We believe that organizational resilience mainly includes two dimensions. The first dimension is that after experiencing an adversity crisis situation, a certain enterprise can recover and survive faster and more effectively than other enterprises in the industry.</p><p>\"The wildfire can't burn out, and the spring breeze blows again\". This is generally consistent with the concept of resilience in the engineering field, and its main function is to deal with the negative threats brought by adversity crises.</p><p>The second dimension is that after experiencing the blow of the adversity crisis situation, a certain enterprise can surpass the rebound and survive faster and more effectively than other enterprises in the industry, so as to achieve improvement, overtaking and more vitality, and be higher than before the adversity crisis situation. by going up one flight of stairs. This is like \"anti-fragility\" or \"anti-fragility\" that gets stronger and stronger with setbacks.</p><p>That's why adversity can hone perseverance and promote the faster maturity of individuals and organizations. As the saying goes, \"Since ancient times, heroes have suffered many hardships, and dandies have been less wei men\". The Monkey King went through hardships in Taishang Laojun's alchemy furnace, and refined his \"sharp eyes\", which is an example of improvement and overtaking.</p><p>The second dimension of organizational resilience is obviously different from the concept of resilience in the engineering field, so it is its important extension and development. Its main function is to cope with the positive opportunities brought by adversity crises.</p><p>In particular, many people compare resilience with resistance or robustness against blows and confuse it. However, there is an essential difference between resilience and resistance: the latter will not be damaged by adversity and crisis situations, and certainly does not need to rebound or overtake, while the former must be severely damaged after being hit, but can recover and rebound or even improve overtaking.</p><p>An image metaphor is the rubber band. Its elasticity reflects the restoring force and forward momentum of toughness, but it is not absorbency or tolerance, nor is it general adaptability.</p><p>Therefore, \"recovery rebound\" and \"improvement overtaking\" are the two core intrinsic characteristics of resilience. The resistance is similar to the \"strong grass\" in the \"strong wind knows the strong grass\" mentioned in \"Dongguan Han Ji Wang Ba Biography\".</p><p>Different from this, the key to toughness lies not in resistance, but in the ability to rebound and overtake. As the famous saying in Mencius Telling the World says, \"Therefore, heaven will give a great responsibility to Sri Lankan people, so they must first suffer their minds, work their muscles and bones, starve their skin, empty their bodies, and confuse their actions. Therefore, they are tempted to be patient, and they can't benefit them.\"</p><p><img src=\"https://static.tigerbbs.com/6152a9c451daa7f57cffad7c12a7c74a\" tg-width=\"1024\" tg-height=\"604\" referrerpolicy=\"no-referrer\"></p><p>In short, organizational resilience is the core capability of enterprises to cope with adversity crises in today's VUCA + era, including two dimensions: rebound recovery and overtaking improvement. We believe that organizational resilience is mainly reflected in several aspects:</p><p><ul><li>The idea of zero inventory advocated by lean mode and real-time mode should be turned into moderate inventory, and different inventory degrees should be arranged according to different situations. At the weakest bottleneck of the supply chain, more inventory and moderate slack of other resources are required, while in other places, inventory and other redundant resources can be minimized.</p><p></li><li>It is necessary to moderately disperse the geographical layout of suppliers, and not rely too much on the only supplier in one place to avoid risks. Folk experience is true, you should not put all your eggs in one basket.</p><p></li></ul><ul><li>Effectively ensure the smooth circulation between domestic and international dual circulation, including dispersing market demand and parts supply among different developed and developing countries.</p><p></li><li>Overseas mergers and acquisitions of hidden champion companies may be the most valuable investment in the long-term, but the merger and acquisition method needs to be flexible, and you can participate in minority investment to strengthen mutual trust between the two parties.</p><p></li><li>It is necessary to strengthen cooperative relations with countries that are relatively neutral in geopolitics, such as Vietnam and certain African countries with conditions.</p><p></li><li>Developed countries whose local manufacturing industries are hollowing out are beginning to realize the long-term significance of the current crisis, and will definitely seek alternative solutions, especially alternative solutions to establish local core supply chains. This is of great significance to the restructuring of existing supply chains around the world. China needs to pay close attention to this and take precautions at the end of the rain.</p><p></li><li>Similarly, China needs to make breakthroughs in certain \"stuck\" areas in order to form a pattern of interdependence and mutual restriction with other competing countries, similar to the containment pattern among nuclear-weapon states.</p><p></li><li>In the face of Sino-US decoupling in some areas, China needs to pay special attention and actively participate in the formulation of global industry standards. In addition, Chinese enterprises need to learn to deal with the future pattern of two competing industry standard systems in important industries around the world.</p><p></li></ul>Faced with the increasingly obvious VUCA + scenario, the market has increasingly higher requirements for supply chain resilience, because any unexpected delays may be amplified to the upstream and downstream of the supply chain of one industry, or several industries.</p><p>We believe that it is necessary to fundamentally change the mainstream management paradigm and business model of enterprises based on short-term financial returns. Without this profound paradigm shift, after the crisis eases, most enterprises will heal their scars and forget their pain, and gradually return to the old path.</p><p>This is a management revolution that requires long-term efforts to rebuild a long-term management paradigm and business model that balances the rights and interests of multiple stakeholders for sustainable development.</p><p>In particular, it should be pointed out that the current emerging \"anti-globalization\" trend is not a complete denial of the previous globalization paradigm, but only a partial correction, that is, from an extremely paranoid globalization paradigm to a future globalization paradigm with long-term sustained and balanced development.</p><p>According to the 2018 report of China's foreign investment, in 2017, foreign-funded enterprises accounted for less than 3% of the total number of enterprises in China, but they created nearly 1/2 of foreign trade, 1/4 of the profits of industrial enterprises above designated size, 1/5 of tax revenue, and more than 45 million direct employment (accounting for more than 10% of the domestic urban employment population, excluding indirect employment brought by upstream and downstream related industries).</p><p>Therefore, we need to adhere to the basic national policy of reform and opening up, and ensure the organic balance of internal and external circulation in the \"double circulation\". Similar to the important role of private enterprises in economic development, the unique role of foreign-funded enterprises is also irreplaceable.</p>","source":"lsy1567750882116","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Heavy interpretation! Causes and Antidotes of Global Supply Chain Dilemma</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHeavy interpretation! Causes and Antidotes of Global Supply Chain Dilemma\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">中欧商业评论</strong><span class=\"h-time small\">2021-09-15 14:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>At present, most consumers don't seem to feel strongly the huge challenge that almost all enterprises around the world are suffering from-the problem of tight shortages and partial disruptions caused by serious bottlenecks in global supply chains. This problem is caused not only by the continuous evolution of COVID-19 pandemic, but also by the inherent defects left over by past business models and new geopolitical conflicts. For example, in the face of the continued shortage of semiconductor chips, Toyota announced this month that it would cut its global automobile production by 40%. Despite strong demand for products, metal components, plastics, and other raw materials are not available at factories around the world. Construction companies are paying more for paint, wood and hardware, but have to wait weeks or even months to receive it... What's even more worrying is that prices are starting to rise due to supply chain bottlenecks, which are likely to exacerbate global currency Inflation caused by overissuance. Faced with severe challenges, China-Europe Business Review specially invited two professors, Li Ping and Shi Yongjiang, to explain the underlying causes of serious bottlenecks in the global supply chain and put forward feasible solutions to these problems. Delays, product shortages and rising costs have continued to plague businesses large and small and their users in recent months.</p><p>Managers and consumers have also begun to face an experience that was once rare in modern society: on the one hand, a large number of orders poured in, resulting in an instantaneous shortage of capacity and then panic and anxiety; On the other hand, due to the inability to coordinate actions between the upstream, midstream and downstream of the supply chain, upstream raw materials are out of stock, midstream work-in-progress is backlogged, and downstream finished products cannot be offshore due to lack of transportation capacity.</p><p>Now, we can't help but ask, what is the reason for the current supply chain bottleneck?</p><p><b>Source of bottleneck</b></p><p><i>The short-term strong rebound in market demand is one of the most direct reasons for the tight global supply chain.</i></p><p>There is persistent unusual uncertainty in the prospects for global economic recovery, and \"supply chain bottlenecks\" are precisely the core factor of this uncertainty.</p><p>If the shortage persists into next year, it is likely to drive up the prices of a range of commodities. At present, the central banks of all countries are concerned about the potential inflation problem, and no one can fully confidently answer one of them. Shortages and delays only appear briefly with the economic recovery? Or will it become a serious hidden danger that lasts for a long time?</p><p>On the surface, the recent strong rebound in market demand is one of the most direct factors or reasons leading to the tension of global supply chains. This problem largely reflects the abnormal changes in market demand.</p><p>Consumers in the United States and other rich countries are confined to their homes by COVID-19 pandemic, which drives them to buy products such as game consoles, treadmills and kitchen supplies for their homes, thus leading to insufficient supply of related products.</p><p>In addition, due to COVID-19 pandemic, people can't travel on vacation, so the savings in this area are diverted to other products, which also leads to insufficient supply of related products.</p><p>Thirdly, COVID-19 pandemic subsidies issued by governments such as the United States have increased consumers' purchasing power and willingness at the same time, further increasing the degree of insufficient supply.</p><p>During the epidemic, affected by various blockade measures, the global supply chain will inevitably be under pressure. In addition to China, Southeast Asia is an important link in the global supply chain. Due to the recent rebound of the epidemic, economic production activities have been severely hindered, among which Vietnam, Malaysia and other countries are the most serious. Almost all Vietnam is in a state of social isolation, and its manufacturing industry is facing three major crises: worker loss, order loss, and capital loss.</p><p>Of course, in addition to the epidemic, extreme weather and natural disasters will also have a negative impact on the supply chain. However, this is only an external problem caused by natural disasters, and the most serious problem is the supply itself.</p><p>Most companies underestimate the recent strong rebound in market demand and have not booked enough spare parts and raw materials in advance, so they cannot increase supply and output in the short term.</p><p><img src=\"https://static.tigerbbs.com/aaac9405b608d58c20a650004d1a9c25\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>For example, all automobile companies in the world thought that this COVID-19 pandemic would seriously reduce and delay the market's purchase of automobiles, so they greatly reduced the purchase orders of spare parts. However, they never expected that the market demand would rebound strongly in a short period of time, resulting in the current There is a serious shortage of spare parts and cannot meet the market demand. This belongs to the judgment error of enterprise managers and human error.</p><p>In the spring of 2020, the automobile industry cut production significantly, and when the Chinese market showed an amazing recovery momentum, an executive of a large Chinese automobile company said that the automobile industry \"only ordered semiconductors and other components for three months, and did not draw up an optimistic production plan.\"</p><p>At the same time, the market demand in different industries rebounded almost simultaneously, which also caught most enterprises off guard. The severe global shortage of semiconductor chips is closely related to this.</p><p>Because the automotive industry has not arranged orders in advance, it is currently difficult to obtain the chips it needs, because most of the limited chip production capacity has shifted to the more profitable electronics industry. An unexpected increase in TV orders in Canada or Japan has exacerbated the chip shortage, forcing automakers to slow down production from South Korea to Germany to Brazil.</p><p>What has a far-reaching impact is the political factors beyond the control of enterprises. An important start to the global semiconductor shortage is the U.S. government's sanctions on mainland Chinese companies. OEM companies such as SMIC (SMIC) have become targets of sanctions, and orders have concentrated on Taiwanese companies centered on the world's largest Taiwan Semiconductor Manufacturing Company (TSMC).</p><p>Qualcomm of the United States took quick action and successively visited Taiwanese semiconductor companies such as TSMC and United China Electronics (UMC), placing a large number of orders to replace SMIC. In addition, as the U.S. government tightened sanctions on Huawei, Taiwanese companies such as TSMC have entered a rare busy period since July, because Huawei placed an unusually large number of orders in advance and rushed to stock up on goods before the new sanctions were launched in September. Required chips.</p><p><b>Difficulties of shipping</b></p><p><i>Serious bottlenecks in transportation have led to difficulty in finding transportation capacity, skyrocketing freight rates and delivery delays.</i></p><p>What makes the above difficulties worse are the huge challenges in the shipping field.</p><p>Specifically, starting in March this year, as global shipping costs soared, many commodities became scarce, resulting in a large number of containers overwhelming the shipping industry. First, a giant cargo ship ran aground in the Suez Canal, blocking hundreds of cargo ships, causing a week's interruption to traffic on an important waterway connecting Europe and Asia. The negative impact of the Suez Canal, which is the gateway for about 12% of world trade, lasted for many months, adding to the disruption of the maritime industry.</p><p>Later, a series of temporary closures of Chinese ports related to COVID-19 pandemic (including Shenzhen, Yantai, Ningbo, etc.) aggravated this confusion. A large number of products need to be shipped from Chinese ports to various countries around the world. The closure of these ports has become a snowball event that ripples across the world, even threatening the supply of goods for Black Friday promotions after Thanksgiving in American stores.</p><p>Coupled with the surge in global consumer demand, the order volume of the shipping industry continues to increase. The arrival volume at U.S. ports continues to hit records, but due to the lack of workers, containers, and ships, port congestion has occurred, resulting in major delays in logistics. For example, because containers shipped to Los Angeles can't be unloaded, soybeans in Iowa have no containers to ship, and buyers in Indonesia can only wait, thus triggering a shortage of animal feed in Southeast Asia.</p><p>Cheap and reliable shipping has long been an important part of international trade, allowing manufacturers to shift production around the world in search of low-wage labor and cheap raw materials. But since COVID-19 pandemic, the cost of shipping goods from Asia to the United States has risen tenfold.</p><p><img src=\"https://static.tigerbbs.com/f6889cf56496f4337b656dcfd7a8db85\" tg-width=\"1080\" tg-height=\"622\" referrerpolicy=\"no-referrer\"></p><p>Before the epidemic, it cost US $6,000-7,000 to ship a 40-foot container from Shanghai to the Midwest of the United States, but the freight cost of the next batch of goods scheduled to leave China in mid-September is already at least US $26,000; Coupled with the difficulties of rail and trucking in the United States, freight rates are likely to go up to $35,000.</p><p>Typically, the peak demand for trans-Pacific freight begins in late summer and ends in winter, that is, after the cargo is ready during the year-end holidays. But last winter, the peak of freight demand never ended, and now it has converged with the shopping surge during this year's holiday season, exacerbating the pressure on factories, warehouses, cargo ships and trucks.</p><p>Nowadays, the current situation in China has aggravated people's worries about the future prospects. Many enterprises face abnormal phenomena that have not been encountered in decades. On the one hand, the order production is too busy; on the other hand, the product inventory is seriously overstocked and cannot be shipped. This is because there are serious bottlenecks in transportation, hard to find transportation capacity, skyrocketing freight rates, and delivery delays.</p><p>What is even more worrying is that due to supply chain bottlenecks, prices have begun to rise, which is likely to aggravate inflation caused by global currency overissuance. This is the consequence that everyone is most worried about and least wants to see.</p><p><b>Deep difficulties</b></p><p><i>Global companies will face profound challenges for a long time and need to restructure the global supply chain of their own businesses.</i></p><p>Influenced by the success of Toyota's production model, many companies have adopted lean production mode and Just in Time/JIT mode to minimize inventory and other waste. This is very effective in cutting costs and increasing profits, but it also leaves little room for correcting errors.</p><p>Relevant studies found that from 1981 to 2000, American companies reduced their inventories by an average of 2% every year, and the saved costs were used to buy back listed stocks, further pushing up the stock market price. If the enterprise is in a relatively stable situation, such as the long-term peaceful development stage after World War II, Toyota's production model is extremely effective.</p><p>Once the situation becomes highly chaotic, especially in the VUCA + era (variability, uncertainty, complexity, ambiguity and novelty), the inherent flaws of Toyota's production model will be increasingly exposed. Once there is a problem in any part of the supply chain system, the whole system will have bottlenecks and even breaks to varying degrees.</p><p>In other words, because Toyota's production model is built on the underlying logic of tight coupling in the field of resource management, this model seriously lacks resilience and lacks the ability to respond timely and rebound quickly after encountering sudden crises. Coupling can only play a high-efficiency role in high-latitude scenarios.</p><p>But scene changes, especially sudden changes, turn this coupling into a shackle, hindering the development of adaptability. This deep-seated problem should be raised to the height of paradigm transformation (i.e. VUCA + paradigm), paid enough attention to, and effectively solved as soon as possible. This is the first deep reason for the current supply chain bottleneck.</p><p>The second deep reason is more profound, that is, the unsustainable development of the previous globalization paradigm itself. The core connotation of this problem is that global production and supply are too concentrated in a few countries, or even only one country (such as China becoming the so-called \"world factory\"), just for the largest market and the lowest labor cost.</p><p>The world has learned a painful lesson: the otherwise relatively independent and diverse economies thousands of miles apart are so tied together that delays and shortages in any place will spread to almost everywhere else in the world, and no one is spared. This COVID-19 pandemic most vividly reflects the drawbacks of this economic development paradigm, which have been deliberately ignored or even maliciously covered up by people for a long time.</p><p><img src=\"https://static.tigerbbs.com/db6eab0fab28134ec77b33b485e11a4c\" tg-width=\"600\" tg-height=\"379\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>In other words, out of greedy nature, short-term capital, under the banner that globalization is beneficial to people all over the world, uses the business model that is most beneficial to the capital, pursues the maximization of a single financial return, deliberately ignores or even maliciously covers up the potential risks and harms caused by this paradigm to society, especially for the long-term interests of other stakeholders.</p><p>The global layout of the supply chain objectively leads to the geographical long distance between production supporting facilities and retail consumption, multiple links of logistics and distribution, and the increase of operational complexity. The direct consequence is the increase of operational risks and difficulty in controlling them. At present, the bottleneck of shipping also vividly reflects what is wrong with the global economic development paradigm.</p><p>A UK company that makes sealing machines for packaged food is struggling because it can't secure the supply of the components it needs. The company's suppliers in Japan could deliver key equipment in four to six weeks, but now it takes half a year. And that Japanese supplier has been trying to ensure the electronic components it needs, most of which are produced in Asia and cannot be replaced elsewhere. Coupled with automakers' desperate desire to get chips, it makes it harder for companies in other industries to get parts that are already in severe shortage. This is the embodiment of close coupling in the field of geographical layout, and it is the second deep reason.</p><p>The third deep-seated reason is related to the rise of China after globalization. After the end of the Cold War, Fukuyama and others believed that history had come to an end, and the market economy and * 's * would become a unified template for future development. However, no one expected that since China joined the WTO, it not only became even more powerful, but also began to quietly create its own rules of the game, which challenged the existing global economic system.</p><p>This eventually triggered a fierce Sino-US trade war and a series of subsequent geopolitically oriented side-selection, which caused China and western developed countries to part ways in terms of economy and political system. Under this basic pattern, no matter Chinese multinational companies or local companies, or multinational companies in other countries, they are all facing an unprecedented profound challenge, that is, how to reconstruct the global supply chain of their own businesses.</p><p><b>The situation of reconstruction</b></p><p><i>The long-term response strategy of supply chain bottlenecks should take organizational resilience as its underlying logic.</i></p><p>We believe that the short-term response strategy to supply chain bottlenecks is based on overcoming the immediate difficulties. From the perspective of how Chinese enterprises should respond, we put forward some alternative strategies.</p><p><ul><li>Chinese enterprises that encounter delivery delays should strive to renegotiate new contracts with the other party, and urge the other party to understand the difficulties caused by special situations, especially those caused by force majeure conditions (rather than their own human errors), and minimize compensation for losses.</p><p></li><li>Chinese enterprises need to pay special attention to cash flow, ensure that they have basically sufficient liquidity, and avoid the break of the capital chain, so as to successfully tide over the difficulties.</p><p></li><li>Chinese enterprises can make full use of the government's current policy of supporting \"specialized, special and new little giant\" enterprises, strengthen the necessary research and development to break through technical bottlenecks, strive to build themselves, and become future invisible (single/refined) champions. We believe that this is the most significant national policy at present and for a long time to come, and we hope to attract the attention of more Chinese enterprises.</p><p></li></ul>On the other hand, we advocate that the long-term response strategy to supply chain bottlenecks should take organizational resilience as its underlying logic, so as to overcome various problems caused by the underlying reasons mentioned above, including real-time production models, excessive geographical concentration, and serious conflict between China and the United States.</p><p>The definition of resilience varies in different fields, but it is basically the same. The core essence of toughness is the ability to rebound: the higher the toughness, the greater the potential to continue functioning under deformation pressure. However, in the field of management, the concept of resilience has been extended and developed, mainly in terms of surpassing the ability to rebound.</p><p>We believe that organizational resilience mainly includes two dimensions. The first dimension is that after experiencing an adversity crisis situation, a certain enterprise can recover and survive faster and more effectively than other enterprises in the industry.</p><p>\"The wildfire can't burn out, and the spring breeze blows again\". This is generally consistent with the concept of resilience in the engineering field, and its main function is to deal with the negative threats brought by adversity crises.</p><p>The second dimension is that after experiencing the blow of the adversity crisis situation, a certain enterprise can surpass the rebound and survive faster and more effectively than other enterprises in the industry, so as to achieve improvement, overtaking and more vitality, and be higher than before the adversity crisis situation. by going up one flight of stairs. This is like \"anti-fragility\" or \"anti-fragility\" that gets stronger and stronger with setbacks.</p><p>That's why adversity can hone perseverance and promote the faster maturity of individuals and organizations. As the saying goes, \"Since ancient times, heroes have suffered many hardships, and dandies have been less wei men\". The Monkey King went through hardships in Taishang Laojun's alchemy furnace, and refined his \"sharp eyes\", which is an example of improvement and overtaking.</p><p>The second dimension of organizational resilience is obviously different from the concept of resilience in the engineering field, so it is its important extension and development. Its main function is to cope with the positive opportunities brought by adversity crises.</p><p>In particular, many people compare resilience with resistance or robustness against blows and confuse it. However, there is an essential difference between resilience and resistance: the latter will not be damaged by adversity and crisis situations, and certainly does not need to rebound or overtake, while the former must be severely damaged after being hit, but can recover and rebound or even improve overtaking.</p><p>An image metaphor is the rubber band. Its elasticity reflects the restoring force and forward momentum of toughness, but it is not absorbency or tolerance, nor is it general adaptability.</p><p>Therefore, \"recovery rebound\" and \"improvement overtaking\" are the two core intrinsic characteristics of resilience. The resistance is similar to the \"strong grass\" in the \"strong wind knows the strong grass\" mentioned in \"Dongguan Han Ji Wang Ba Biography\".</p><p>Different from this, the key to toughness lies not in resistance, but in the ability to rebound and overtake. As the famous saying in Mencius Telling the World says, \"Therefore, heaven will give a great responsibility to Sri Lankan people, so they must first suffer their minds, work their muscles and bones, starve their skin, empty their bodies, and confuse their actions. Therefore, they are tempted to be patient, and they can't benefit them.\"</p><p><img src=\"https://static.tigerbbs.com/6152a9c451daa7f57cffad7c12a7c74a\" tg-width=\"1024\" tg-height=\"604\" referrerpolicy=\"no-referrer\"></p><p>In short, organizational resilience is the core capability of enterprises to cope with adversity crises in today's VUCA + era, including two dimensions: rebound recovery and overtaking improvement. We believe that organizational resilience is mainly reflected in several aspects:</p><p><ul><li>The idea of zero inventory advocated by lean mode and real-time mode should be turned into moderate inventory, and different inventory degrees should be arranged according to different situations. At the weakest bottleneck of the supply chain, more inventory and moderate slack of other resources are required, while in other places, inventory and other redundant resources can be minimized.</p><p></li><li>It is necessary to moderately disperse the geographical layout of suppliers, and not rely too much on the only supplier in one place to avoid risks. Folk experience is true, you should not put all your eggs in one basket.</p><p></li></ul><ul><li>Effectively ensure the smooth circulation between domestic and international dual circulation, including dispersing market demand and parts supply among different developed and developing countries.</p><p></li><li>Overseas mergers and acquisitions of hidden champion companies may be the most valuable investment in the long-term, but the merger and acquisition method needs to be flexible, and you can participate in minority investment to strengthen mutual trust between the two parties.</p><p></li><li>It is necessary to strengthen cooperative relations with countries that are relatively neutral in geopolitics, such as Vietnam and certain African countries with conditions.</p><p></li><li>Developed countries whose local manufacturing industries are hollowing out are beginning to realize the long-term significance of the current crisis, and will definitely seek alternative solutions, especially alternative solutions to establish local core supply chains. This is of great significance to the restructuring of existing supply chains around the world. China needs to pay close attention to this and take precautions at the end of the rain.</p><p></li><li>Similarly, China needs to make breakthroughs in certain \"stuck\" areas in order to form a pattern of interdependence and mutual restriction with other competing countries, similar to the containment pattern among nuclear-weapon states.</p><p></li><li>In the face of Sino-US decoupling in some areas, China needs to pay special attention and actively participate in the formulation of global industry standards. In addition, Chinese enterprises need to learn to deal with the future pattern of two competing industry standard systems in important industries around the world.</p><p></li></ul>Faced with the increasingly obvious VUCA + scenario, the market has increasingly higher requirements for supply chain resilience, because any unexpected delays may be amplified to the upstream and downstream of the supply chain of one industry, or several industries.</p><p>We believe that it is necessary to fundamentally change the mainstream management paradigm and business model of enterprises based on short-term financial returns. Without this profound paradigm shift, after the crisis eases, most enterprises will heal their scars and forget their pain, and gradually return to the old path.</p><p>This is a management revolution that requires long-term efforts to rebuild a long-term management paradigm and business model that balances the rights and interests of multiple stakeholders for sustainable development.</p><p>In particular, it should be pointed out that the current emerging \"anti-globalization\" trend is not a complete denial of the previous globalization paradigm, but only a partial correction, that is, from an extremely paranoid globalization paradigm to a future globalization paradigm with long-term sustained and balanced development.</p><p>According to the 2018 report of China's foreign investment, in 2017, foreign-funded enterprises accounted for less than 3% of the total number of enterprises in China, but they created nearly 1/2 of foreign trade, 1/4 of the profits of industrial enterprises above designated size, 1/5 of tax revenue, and more than 45 million direct employment (accounting for more than 10% of the domestic urban employment population, excluding indirect employment brought by upstream and downstream related industries).</p><p>Therefore, we need to adhere to the basic national policy of reform and opening up, and ensure the organic balance of internal and external circulation in the \"double circulation\". Similar to the important role of private enterprises in economic development, the unique role of foreign-funded enterprises is also irreplaceable.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/XrUqawTkNFpczFJ4b0qV1Q\">中欧商业评论</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/781bdda0e66d23e0187d95bba5bcb171","relate_stocks":{},"source_url":"https://mp.weixin.qq.com/s/XrUqawTkNFpczFJ4b0qV1Q","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148030034","content_text":"大多数消费者目前似乎还没有强烈感受到，全球几乎所有企业正在遭受的巨大挑战——全球供应链产生严重瓶颈所带来的紧张短缺、部分断裂的问题。这个问题不仅由于新冠疫情持续演变，也因过去商业模式所遗留下来的内在缺陷，和新的地缘政治冲突所致。\n\n\n 比如面对半导体芯片的持续短缺，丰田已在本月宣布削减其40%的全球汽车产量。尽管产品需求强劲，但世界各地的工厂都买不到金属部件、塑料和其他原材料。建筑公司正在为油漆、木材和五金支付更多的钱，但要等上数周甚至数月才能收到……\n\n\n 更令人担忧的是，由于供应链瓶颈，物价开始上涨，很可能加剧全球货币超发所导致的通货膨胀。面对严峻挑战，《中欧商业评论》特邀李平与石涌江两位教授，阐述全球供应链出现严重瓶颈的深层原因，并提出解决这些问题的可行性方案。\n\n近几个月，延误、产品短缺和成本上升，持续困扰着大大小小的企业及其用户。\n管理者和消费者也开始面对一种现代社会曾经罕见的经历：一方面是大量的订单涌入，形成瞬间的能力短缺继而恐慌焦虑；另一方面又因供应链上中下游无法协调动作，上游原材料缺货、中游在制品积压、下游产成品因缺乏运力而无法离岸。\n事到如今，我们不禁要问，造成目前供应链瓶颈的原因究竟是什么？\n瓶颈之源\n短期强力市场需求反弹是导致全球供应链紧张的最为直接的原因之一。\n全球经济复苏前景中持续存在异常的不确定性，而“供应链瓶颈”恰恰正是这种不确定性的核心因素。\n如果短缺一直持续到明年，很有可能推动一系列大宗商品的价格上涨。目前各国的中央银行都在关注潜在通货膨胀问题，其中一个无人可以完全自信回答，短缺和延迟只是随着经济复苏短暂出现？还是会成为持续较长时间的严重隐患？\n从表面情况来看，最近出现的强力市场需求反弹是导致全球供应链紧张的最为直接的因素或原因之一。这个问题很大程度上反映了市场需求的异常变化。\n美国和其他富裕国家的消费者被新冠疫情限制在家中，驱使他们为家里添购类似游戏机、跑步机、厨房用品等产品，因而导致有关产品供应不足。\n此外，由于新冠疫情，人们无法度假旅行，就把这方面节省下来的费用转向购买其他产品，也导致有关产品供应不足。\n再次，美国等国政府发放的新冠疫情补助金同时增加了消费者的购买能力与意愿，进一步加大供应不足的程度。\n疫情期间，受各种封锁措施的影响，全球供应链不可避免会承受压力。除了中国以外，东南亚作为全球供应链中重要的一环，由于最近疫情的反弹，经济生产活动严重受阻，其中又以越南、马来西亚等国最为严重。越南全国几乎都处于社会隔离的状态，其制造业正面临工人流失、订单流失、资本流失等三大危机。\n当然，除了疫情，极端气候、自然灾害也会对供应链产生了负面影响。不过，这只是由于天灾所导致的外部问题，最为严重的还有供应本身的问题。\n大多数企业低估了最近市场需求的反弹强力，没有事前预定足够的零配件与原材料，因此无法在短期内提升供应产量。\n\n例如，全球所有汽车企业都以为，这场新冠疫情会严重减少并延迟市场对汽车的购买，因此大幅度减少零部件购买订单，却万万没想到市场需求在很短时间内强力反弹，导致目前零配件严重不足，无法满足市场需求。这属于企业管理人员的判断错误，属于人为失误。\n2020年春季汽车行业进行大幅减产，而当中国市场显示出令人惊异的复苏势头时，中国某大型车企的高管表示汽车行业当时“只订购了3个月的半导体等零部件，并未拟定乐观的生产计划”。\n同时，不同行业的市场需求几乎同时反弹，也让大多数企业措手不及。全球半导体芯片的严重短缺就与此密切相关。\n汽车行业由于没有提前安排订单，目前很难获得所需要的芯片，因为有限的芯片生产能力大多转向更为盈利的电子产品行业。加拿大或日本的电视机订单的意外增长，加剧了芯片的短缺情况，迫使汽车制造商放慢从韩国到德国再到巴西的生产数量。\n而影响更为深远的是企业无法控制的政治因素。全球半导体短缺的重要开端是美国政府对中国大陆企业的制裁。代工企业中芯国际（SMIC）等成为制裁目标，订单集中涌向了以世界最大的台积电（TSMC）为中心的台湾企业。\n美国高通迅速采取行动，相继走访台积电和联华电子（UMC）等台湾半导体企业，为了替代中芯国际下了大量的订单。此外，由于美国政府加强对华为的制裁，台积电等台湾企业自7月起进入了罕见的繁忙期，因为华为提前下了超乎寻常的大量订单，抢在新制裁于9月启动之前囤货所需芯片。\n航运之难\n运输产生的严重瓶颈，导致运力难求，运费暴涨，交货延误。\n使得以上困难雪上加霜的还有在航运领域的巨大挑战。\n具体而言，今年3月开始，随着全球航运成本飙升，许多商品变得稀缺，导致大批集装箱让航运业应接不暇。先有一艘巨型货轮在苏伊士运河搁浅，数百艘货船受阻，导致连接欧洲与亚洲的重要航道交通中断了一周。苏伊士运河是占世界贸易约12%的货物的通道，这一负面影响持续了好几个月，加剧了海运业的混乱。\n后来，中国一系列与新冠疫情有关的港口临时关闭（包括深圳、烟台、宁波等）更加剧了这种混乱。大量的产品需要从中国的港口运往全球各个国家，这些港口的关闭成为波及全球的滚雪球事件，甚至威胁美国商店感恩节后的黑色星期五促销活动的商品供应。\n加之全球消费需求暴增，航运业订单量持续增加。美国港口到货量持续创纪录，但由于缺工、缺货柜，缺船，出现塞港情形，导致物流大延迟。例如，由于运到洛杉矶的集装箱无法卸货，爱荷华州的大豆没有集装箱可运，而印度尼西亚的买家只能等待，于是引发东南亚动物饲料的短缺。\n长期以来，廉价可靠的海运一直是国际贸易的重要组成部分，让制造商们能为寻找低工资劳动力和廉价原材料将生产在世界各地转移。但自新冠疫情以来，从亚洲向美国运输货物的成本已经上涨了10倍之多。\n\n疫情之前，一个40英尺集装箱从上海运到美国中西部需要花6000-7000美元，但定于9月中旬离开中国的下一批货物运费已至少是2.6万美元；再加上由于美国铁路和卡车运输的困难，运费很可能会涨到3.5万美元。\n通常情况下，跨太平洋的货运需求高峰始于夏末，结束于冬季，也就是年底节假日期间的货物备全之后。但去年冬季，货运需求的高峰一直没有结束，现在又与今年节假日期间购物高潮汇合在一起，加剧了工厂、仓库、货船和卡车的压力。\n如今，中国国内的现状加重了人们对未来前景的担心。很多企业面临几十年未遇的反常现象。一方面订单生产忙不过来，另一方面产品库存严重积压，无法发货。这是因为运输产生严重瓶颈，运力难求，运费暴涨，交货延误。\n更令人担心的是，由于供应链瓶颈，物价开始上涨，很可能加剧由于全球货币超发所导致的通货膨胀。这是大家最为担心，也是最不愿意看到的后果。\n深层之困\n全球企业都将长期面临深刻挑战，需重构自身业务的全球供应链。\n受丰田生产模式成功的影响，许多公司都采用了精益生产模式与即时生产模式(Just in Time/JIT)，以尽量削减库存和其他各种浪费。这对削减成本、提高利润很有效果，但这也给纠正差错留下极小的余地。\n有关研究发现，从1981年到2000年，美国企业每年平均降低2%库存，而省下来的成本用来回购上市股票，进一步推高股票市场价格。若企业处于相对稳定的情境下，如世界二战后的长期和平发展阶段，丰田生产模式显得异常有效。\n一旦情境变得高度混乱，特别是VUCA+时代（多变性、不确定性、复杂性、模糊性和新颖性），丰田生产模式内在的缺陷就会日益暴露。一旦供应链系统中任何一处出现问题，整个系统就会产生瓶颈，甚至出现不同程度的断裂。\n换言之，由于丰田生产模式构建在资源管理领域的紧密耦合(tight coupling)的底层逻辑之上，这种模式严重缺乏韧性，在遇到突发性危机以后的及时应对与快速反弹方面缺乏能力，紧密耦合仅仅只能在高纬度场景下发挥高效率作用。\n但场景变化，尤其是突然的变化，将这种耦合变成一种桎梏，阻碍应变能力的发挥。这一深层问题，应该提高到范式（即VUCA+范式）转变的高度，得到足够重视，并尽快有效解决。这是目前供应链瓶颈的第一个深层原因。\n第二个深层原因更为深刻，即以前全球化范式本身不可持续发展的问题。这个问题的核心内涵，是全球生产供应过于集中在少数几个国家，甚至只有一个国家（如中国成为所谓“世界工厂”），仅仅为了最大规模市场与最低人工成本。\n世界已得到了一个痛苦的教训：相隔万里的各个原本相对独立的多元经济体如此紧密地绑在一起，以至于任何一个地方的延误和短缺都会波及到几乎世界所有其他地方，无一幸免。这次新冠疫情最为形象生动地体现这一经济发展范式的弊端，而这一弊端长期被人们有意忽视，甚至恶意掩盖。\n\n换言之，出自贪婪本性，短期资本打着全球化对全球人民有利的旗号，利用对资方最为有利的商业模式，追求单一财务回报最大化，有意忽视，甚至恶意掩盖这一范式对社会造成的潜在风险与危害，尤其是对其他利益相关者长期利益而言。\n供应链的全球布局，客观上导致了生产配套与零售消费之间的地理性长距离，物流配送的多个环节以及运营复杂性的提高，直接的后果便是经营风险的提高和难以掌控。目前航运的瓶颈同样形象生动地反映了全球经济发展范式到底出现了什么问题。\n英国一家生产包装食品密封机器的公司因无法确保其所需部件的供货而步履维艰。公司在日本的供应商原本四到六周就能交付关键设备，现在需要半年。而那家日本供应商一直在努力确保其所需的电子元件，这些元件多数在亚洲生产，其他地方无法替代。加上汽车制造商不顾一切想获得芯片，让其他行业的企业更难获得本已严重短缺的零部件。这是紧密耦合在地理布局领域的体现，是第二个深层原因。\n第三个深层原因则和全球化之后的中国崛起有关。冷战结束以后，福山等人认为历史告一段落，市场经济与民主宪政将成为未来发展之统一模板。然而，谁都没有料想到，中国自从加入了WTO 之后，不仅如虎添翼，而且开始悄悄自行创立游戏规则，导致已有的全球经济体制遭受挑战。\n这最终引发了剧烈的中美贸易战和后续的一系列地缘政治导向的选边站队，在经济与政治制度等方面使得中国与西方发达国家开始分道扬镳。在这种基本格局之下，无论是中国的跨国公司或是本土企业，还是其它国家的跨国公司，全部都面临着一场前所未有的深刻挑战，即如何重构自己业务的全球供应链。\n重构之局\n供应链瓶颈的长期应对战略，应该以组织韧性为其底层逻辑。\n我们认为，供应链瓶颈的短期应对策略，以度过眼前难关为其基本原则。我们从中国企业如何应对的视角，提出一些可供选择的策略。\n\n遭遇交货延误的中国企业，应该争取与对方重新谈判新合同，恳请对方理解特殊情境所导致的困难，尤其是在不可抗力条件（而非自己的人为失误）造成的困境，尽量减少赔偿损失。\n中国企业需要特别关注现金流，保证有基本足够的流动资金，避免资金链断裂，以便顺利度过难关。\n中国企业可以充分利用政府目前支持“专精特新小巨人”企业的政策，加强突破技术瓶颈的必要研发，努力打造自身，成为未来隐形（单项/精一）冠军。我们认为，这是目前、以及未来很长一段时间内最具重大意义的国策，希望引起更多中国企业的重视。\n\n另一方面，我们主张供应链瓶颈的长期应对战略应该以组织韧性为其底层逻辑，以此克服以上提到的深层原因所带来的各种问题，包括即时生产模式、地理过于集中、中美严重冲突。\n关于韧性(resilience)的定义在不同领域有所不同，但基本上大同小异。韧性的核心本质就是反弹能力：韧性越高，在变形压力下继续发挥功能的潜力越大。然而，在管理学领域，韧性概念有所延伸与发展，主要在超越反弹能力方面。\n我们认为，组织韧性主要包含两大维度。第一个维度是在经历逆境危机情境打击之后，某一企业能够比本行业其他企业能够更快、更为有效地恢复反弹与继续存活。\n“野火烧不尽，春风吹又生”。这与工程领域韧性概念大体一致，其主要作用功能是应对逆境危机所带来的负面威胁。\n第二个维度是在经历逆境危机情境打击之后，某一企业能够比本行业其他企业能够更快、更为有效地超越反弹与存活，达到改进反超与更具活力，比逆境危机情境之前更上一层楼。这好比越挫越强的“反脆弱”或“逆脆弱”。\n这就是为何逆境可以磨练毅力，促进个人与组织更快成熟，正如俗语所言，“自古英雄多磨难，纨绔子弟少伟男”。孙悟空在太上老君炼丹炉里历经磨难，炼就“火眼金睛”，就是改进反超一个范例。\n组织韧性的第二维度与工程领域韧性概念具有明显区别，因此是其重要延伸与发展，其主要作用功能是应对逆境危机所带来的正面机遇。\n需要特别指出，不少人将韧性与对抗打击的抵抗力或鲁棒性(robustness)相提并论，混为一谈。但是，韧性与抵抗力具有本质区别：后者不会被逆境危机情境打击而受损，当然也不需要反弹或反超，而前者必须遭受打击后严重受损，却能够恢复反弹，甚至改进反超。\n一个形象比喻就是橡皮筋，其弹性反映韧性的恢复力与前冲力，但不是吸收性或容忍性，也不是泛泛的适应性。\n因此， “恢复反弹”与“改进反超”是韧性的两大核心内在特征。抵抗力类似《东观汉记·王霸传》中所提到的“疾风知劲草”中的“劲草”。\n与此不同，韧性关键不在于抵抗力，而在于反弹与反超能力，如同《孟子·告天下》名言所说，“故天将降大任于斯人也，必先苦其心志，劳其筋骨，饿其体肤，空乏其身，行拂乱其所为，所以动心忍性，曾益其所不能。”\n\n总之，组织韧性是企业面临当今VUCA+时代应对逆境危机的核心能力，包含反弹恢复和反超改进两大维度。我们认为，组织韧性主要体现于几下几个方面：\n\n精益模式与即时模式所提倡的零库存思路应该变成适度库存，根据不同情境采用不同的库存程度安排。在供应链最为薄弱的瓶颈之处需要较多的库存，以及其他资源的适度冗余(slack)，而在其他地方则可以尽量减少库存与其他冗余资源。\n需要适度分散供应商地理布局，不可过度依赖一个地方的唯一供应商，以此规避风险。民间经验没错，不应把所有鸡蛋放到一个篮子里。\n\n\n切实保障国内国际双循环两者之间的通畅流通，包括将市场需求与零部件供应分散于不同的多个发达国家与多个发展中国家。\n在海外并购隐形冠军企业可能是最有长期价值的投资，但并购方式需要灵活机动，可以多以少数股投资方式参与，强化双方彼此的信任。\n需要加强与地缘政治方面相对中立国家的合作关系，例如越南与某些条件具备的非洲国家。\n本土制造业空洞化的发达国家开始意识到目前危机的长远意义，定会寻求备用方案，尤其是建立本土核心供应链的替代方案。这对全球现有供应链的重组意义重大。中国需要对此保持密切关注，末雨绸缪。\n与此类似，中国需要在某些“卡脖子”领域里有所突破，以此与其他竞争国家形成彼此依赖、互为制约的格局，类似核武器国之间的遏制格局。\n面对某些领域的中美脱钩，中国需要格外关注，并积极参与全球行业标准的制定。此外，中国企业需要学会应对在全球重要行业存在两套相互竞争的行业标准体系的未来格局。\n\n面对日益明显的VUCA+情境，市场对供应链韧性要求越来越高，因为任何意外导致的延误都可能放大至一个行业，或数个行业供应链的上下游。\n我们认为，需要从根本上转变企业以短期财务回报为本的主流管理范式与商业模式。如果没有这一深刻范式转变，危机缓和之后大多数企业就会好了伤疤忘了疼，逐步回到以前的老路上去。\n这是一场管理革命，需要长期努力，重建可持续发展的长期平衡多元利益相关者权益的管理范式与商业模式。\n需要特别指出，目前涌现的“逆全球化”趋势，并不是对以前全球化范式的彻底否定，而只是部分纠偏，即从极端偏执的全球化范式转向长期持续平衡发展的未来全球化范式。\n根据中国外商投资2018年报告，2017年外资企业仅占全国企业总数不足3%, 却创造了近1/2外贸、1/4规模以上工业企业利润、1/5税收收入、直接就业人数超过4500万（占国内城镇就业人口的比重超过10%，还不包括上下游相关产业所带来的间接就业）。\n因此，我们需要坚持改革开放的基本国策，保证“双循环”中内外循环的有机平衡。类似民营企业对于经济发展的重要作用，外资企业的独特作用同样不可替代。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":571,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9996581454,"gmtCreate":1661202754882,"gmtModify":1676536470170,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AMC\">$AMC院线(AMC)$</a><v-v data-views=\"1\"></v-v>🚀🚀🚀","listText":"<a href=\"https://ttm.financial/S/AMC\">$AMC院线(AMC)$</a><v-v data-views=\"1\"></v-v>🚀🚀🚀","text":"$AMC院线(AMC)$🚀🚀🚀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996581454","isVote":1,"tweetType":1,"viewCount":645,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":880762973,"gmtCreate":1631084424892,"gmtModify":1676530462927,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"????","listText":"????","text":"????","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/880762973","repostId":"2165035975","repostType":4,"isVote":1,"tweetType":1,"viewCount":738,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":812444144,"gmtCreate":1630620428988,"gmtModify":1676530355956,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"????","listText":"????","text":"????","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/812444144","repostId":"2164546845","repostType":4,"repost":{"id":"2164546845","kind":"news","pubTimestamp":1630569124,"share":"https://ttm.financial/m/news/2164546845?lang=en_US&edition=fundamental","pubTime":"2021-09-02 15:52","market":"us","language":"zh","title":"Great changes in the currency market: There are so many dollars that the market doesn't want them","url":"https://stock-news.laohu8.com/highlight/detail?id=2164546845","media":"智通财经","summary":"货币市场正在发生翻天覆地的变化。","content":"<p>Currency markets are changing dramatically.</p><p>For years, the premium of the US dollar to currencies such as the euro and yen has been negative in the cross currency market, which indicates that there is very strong demand for the US dollar. Now these so-called cross-currency basis swaps</p><p>basis swap) is about to turn positive.</p><p>\"Things that never happened before are happening now,\"<a href=\"https://laohu8.com/S/CS\">Credit Suisse</a>Strategist Zoltan Pozsar said. He noted that people have become accustomed to thinking that cross-currency basis swaps are negative.</p><p>\"There was always an excessive demand for dollars, and that excessive demand has disappeared.\"</p><p><a href=\"https://laohu8.com/S/CNBC\">Central Bank</a>The unconventional measures taken, including the Federal Reserve's extensive liquidity in the form of dollar swap lines and new repurchase agreement facilities, mean that the financial system has essentially been flooded with cash.</p><p>In 2015, the Federal Reserve withdrew dollar liquidity from the market, just as the BOJ and ECB were ramping up their quantitative easing programs.</p><p><img src=\"https://static.tigerbbs.com/1c51bd3b468c4ca66d6b3f834bb6ad88\" tg-width=\"600\" tg-height=\"337\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>\"Some of the most experienced short-term rate traders will tell you that the volume between 2015 and 2019 was unprecedented,\" Pozsar said.</p><p>\"So fast forward to today, we have so much liquidity right now, particularly the dollar, and the Fed is doing quantitative easing faster than either the BOJ or the ECB. So the dollar is well supplied. Regulation isn't getting stricter.</p><p>If anything, they are getting looser. The Fed has become the dealer of last resort. \"</p><p>Even longer-term cross-currency basis swaps, such as the 10-year swap between the Japanese yen and the US dollar, are about to turn positive. This premium currently stands at-34 basis points, the smallest difference in more than 10 years.</p><p>This swap indicator is a way to measure the difference in the cost of borrowing dollars in Japan versus borrowing dollars in the United States, and if the indicator is negative, it indicates that borrowing dollars in yen is more expensive.</p><p>In theory, this difference should not exist because participants arbitrage to eliminate the difference, but regulations introduced in the wake of the financial crisis may have limited their ability to do so.</p><p><img src=\"https://static.tigerbbs.com/d705e196ca793c3ad2f3e4e987cbf869\" tg-width=\"600\" tg-height=\"337\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Most of the world's excess dollars are currently deposited in the Federal Reserve's reverse repurchase facility, which this week absorbed a record $1.19 trillion from banks, money market funds and other financial counterparties.</p><p>Meanwhile, the launch of a new repurchase facility at the end of July should provide the Fed with another avenue to absorb excess liquidity from the financial system.</p><p>The Federal Reserve's liquidity measures have driven short-term interest rates lower in several countries.</p><p>In particular, the spread between the London Interbank Offered Rate (Libor) and overnight index swaps (OIS), a measure of banks' dollar funding costs, is close to negative.</p><p>That's different from 2008, when turmoil in the repo market and concerns about counterparties pushed the metric to record highs.</p><p><img src=\"https://static.tigerbbs.com/8441795a323461ec45740acebe20200a\" tg-width=\"600\" tg-height=\"337\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>\"This reflects that there is too much cash in the system relative to demand,\" Pozsar said. \"For quite some time, it will be very different than it has been in the last 5 years.</p><p>I think short-term rate traders have had a golden age over the last 5 years because we've had so much, so much spread movement in the currency markets. \"</p>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGreat changes in the currency market: There are so many dollars that the market doesn't want them\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经</strong><span class=\"h-time small\">2021-09-02 15:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Currency markets are changing dramatically.</p><p>For years, the premium of the US dollar to currencies such as the euro and yen has been negative in the cross currency market, which indicates that there is very strong demand for the US dollar. Now these so-called cross-currency basis swaps</p><p>basis swap) is about to turn positive.</p><p>\"Things that never happened before are happening now,\"<a href=\"https://laohu8.com/S/CS\">Credit Suisse</a>Strategist Zoltan Pozsar said. He noted that people have become accustomed to thinking that cross-currency basis swaps are negative.</p><p>\"There was always an excessive demand for dollars, and that excessive demand has disappeared.\"</p><p><a href=\"https://laohu8.com/S/CNBC\">Central Bank</a>The unconventional measures taken, including the Federal Reserve's extensive liquidity in the form of dollar swap lines and new repurchase agreement facilities, mean that the financial system has essentially been flooded with cash.</p><p>In 2015, the Federal Reserve withdrew dollar liquidity from the market, just as the BOJ and ECB were ramping up their quantitative easing programs.</p><p><img src=\"https://static.tigerbbs.com/1c51bd3b468c4ca66d6b3f834bb6ad88\" tg-width=\"600\" tg-height=\"337\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>\"Some of the most experienced short-term rate traders will tell you that the volume between 2015 and 2019 was unprecedented,\" Pozsar said.</p><p>\"So fast forward to today, we have so much liquidity right now, particularly the dollar, and the Fed is doing quantitative easing faster than either the BOJ or the ECB. So the dollar is well supplied. Regulation isn't getting stricter.</p><p>If anything, they are getting looser. The Fed has become the dealer of last resort. \"</p><p>Even longer-term cross-currency basis swaps, such as the 10-year swap between the Japanese yen and the US dollar, are about to turn positive. This premium currently stands at-34 basis points, the smallest difference in more than 10 years.</p><p>This swap indicator is a way to measure the difference in the cost of borrowing dollars in Japan versus borrowing dollars in the United States, and if the indicator is negative, it indicates that borrowing dollars in yen is more expensive.</p><p>In theory, this difference should not exist because participants arbitrage to eliminate the difference, but regulations introduced in the wake of the financial crisis may have limited their ability to do so.</p><p><img src=\"https://static.tigerbbs.com/d705e196ca793c3ad2f3e4e987cbf869\" tg-width=\"600\" tg-height=\"337\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Most of the world's excess dollars are currently deposited in the Federal Reserve's reverse repurchase facility, which this week absorbed a record $1.19 trillion from banks, money market funds and other financial counterparties.</p><p>Meanwhile, the launch of a new repurchase facility at the end of July should provide the Fed with another avenue to absorb excess liquidity from the financial system.</p><p>The Federal Reserve's liquidity measures have driven short-term interest rates lower in several countries.</p><p>In particular, the spread between the London Interbank Offered Rate (Libor) and overnight index swaps (OIS), a measure of banks' dollar funding costs, is close to negative.</p><p>That's different from 2008, when turmoil in the repo market and concerns about counterparties pushed the metric to record highs.</p><p><img src=\"https://static.tigerbbs.com/8441795a323461ec45740acebe20200a\" tg-width=\"600\" tg-height=\"337\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>\"This reflects that there is too much cash in the system relative to demand,\" Pozsar said. \"For quite some time, it will be very different than it has been in the last 5 years.</p><p>I think short-term rate traders have had a golden age over the last 5 years because we've had so much, so much spread movement in the currency markets. \"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/553010.html\">智通财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c685480ed37cb27252b8611b704480cc","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"http://www.zhitongcaijing.com/content/detail/553010.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164546845","content_text":"货币市场正在发生翻天覆地的变化。\n多年来，在交叉货币市场上，美元相对于欧元、日元等货币的溢价一直为负，这表明对美元的需求非常旺盛。现在，这些所谓的交叉货币基差互换(cross-currency \nbasis swap)即将转为正值。\n“以前从未发生过的事情现在正在发生，”瑞士信贷策略师Zoltan Pozsar表示。 他指出，人们已经习惯认为交叉货币基差互换是负值。 \n“对美元的过度需求总是存在的，而这种过度需求已经消失了。”\n中央银行采取的非常规措施，包括美联储以美元互换额度和新回购协议工具的形式提供大量流动性，意味着金融体系实质上已经被现金淹没。\n2015年，美联储从市场撤出美元流动性，当时日本央行和欧洲央行正在加大量化宽松计划。\n\n“一些经验最丰富的短期利率交易员会告诉你，2015年到2019年期间的交易量是前所未有的，” Pozsar表示。 \n“所以快进到今天，我们现在有这么多的流动性，特别是美元，美联储量化宽松的速度比日本央行或欧洲央行都快。 所以美元供应充足。 监管并没有变得更加严格。 \n如果说有什么不同的话，那就是它们变得越来越宽松了。 美联储已成为最后的交易商。 ”\n甚至较长期限的交叉货币基差互换，例如日元和美元之间的 10 年期互换，也即将转为正值。 目前这一溢价为-34个基点，为10多年来最小的差值。\n这种互换指标是衡量在日本借入美元与在美国借入美元成本差异的一种方法，如果指标为负，则表明用日元借入美元的成本更高。 \n理论上，这种差异不应该存在，因为参与者通过套利来消除差异，但金融危机后出台的监管规定可能限制了他们这样做的能力。\n\n全球大部分过剩美元目前都存放在美联储的逆回购工具中，本周美联储从银行、货币市场基金和其他金融对手那里吸纳了创纪录的1.19万亿美元。 \n与此同时，7月底推出的新回购协议工具应该会为美联储提供另一种从金融体系吸收过剩流动性的途径。\n美联储的流动性措施推动了多个国家的短期利率下降。 \n特别是，伦敦银行同业拆借利率(Libor)与隔夜指数掉期(OIS)之间的息差(衡量银行的美元融资成本的指标)接近于负值。 \n这与2008年的情况不同，当时回购市场的动荡和对交易对手的担忧将该指标推至创纪录高点。\n\nPozsar表示：“这反映出，相对于需求，系统中的现金太多了。”“在相当长的一段时间内，情况将与过去5年截然不同。 \n我认为在过去的5年里，短期利率交易员经历了一个黄金时代，因为我们在货币市场上发生了太多太多的价差波动。”","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":773,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":260355194187976,"gmtCreate":1704573642353,"gmtModify":1704573646068,"author":{"id":"4093277430828230","authorId":"4093277430828230","name":"Shirley2208","avatar":"https://static.tigerbbs.com/5d62232e12645d0411c87323fcb09c44","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4093277430828230","authorIdStr":"4093277430828230"},"themes":[],"htmlText":"[得意]&nbsp;&nbsp;[得意]&nbsp;&nbsp;[得意]&nbsp;&nbsp;[得意]&nbsp;&nbsp;[得意]&nbsp;&nbsp;[呆住]&nbsp;&nbsp;[财迷]&nbsp;&nbsp;","listText":"[得意]&nbsp;&nbsp;[得意]&nbsp;&nbsp;[得意]&nbsp;&nbsp;[得意]&nbsp;&nbsp;[得意]&nbsp;&nbsp;[呆住]&nbsp;&nbsp;[财迷]&nbsp;&nbsp;","text":"[得意] [得意] [得意] [得意] [得意] [呆住] 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