The rapid financing of the AI boom through massive corporate debt issuance is creating significant stress on global financial markets. This influx of private capital forces competition with government Treasury bonds, as AI companies offer higher yields than equivalent sovereign debt, thereby pushing up long-term interest rates. While this signals strong investment demand for AI, it raises concerns about systemic risk and the potential destabilization of core bond markets. Policymakers must navigate the tension between fueling critical technological growth and maintaining stable public borrowing costs to prevent a financial crisis.
The Wall Dancers: Searching for Freedom and Connection on the Chinese Internet
English Summary
The article argues that despite intense state censorship and repression, the Chinese internet remains a vital, albeit precarious, platform for personal expression and collective action. Key evidence includes diverse personal stories—from activists and artists to those challenging social norms—demonstrating citizens' ability to navigate and push back against digital controls. This suggests that while the CCP uses the internet for repression, it cannot fully extinguish the desire for freedom and connection. Policymakers should recognize that digital resistance is an enduring feature of the Chinese information space, complicating efforts to achieve total information control.
中文摘要
本文論述，儘管面臨嚴密的國家審查與壓制，中國的網路仍是一個至關重要但動盪的個人表達和集體行動平台。關鍵證據包括多樣化的個人故事——從活動家、藝術家到挑戰社會規範的群體——這些故事證明了公民在應對和反抗數位控制方面的能力。這表明，雖然中共利用網路進行壓制，但無法完全熄滅人們對自由和連結的渴望。政策制定者應認識到，數位抵抗是中國資訊空間一個持續存在的特徵，這使得實現完全資訊控制的努力變得極為複雜。
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