NewYear Outlook 新年展望

Dear Friends:
各位朋友：

As we transition into the new year, we welcome 2026. The past year has been turbulent, with challenges piling up, but it also reminds us that only by upholding our beliefs amidst the storm can we see the dawn.
在這新舊交替之際，我們迎來了2026年。過去一年，世界並不平靜，挑戰接踵而至，但也提醒我們：唯有在風雨中堅守信念，才能看見黎明的曙光。

2025 Review  回顧2025年
US Tariff War: In 2025, the US significantly increased tariffs, bringing the global effective tariff rate to its highest level in a century, escalating trade tensions and putting pressure on supply chains.

美國關稅戰：2025年，美國大幅提高關稅，全球有效關稅率達到百年來最高水平，貿易緊張加劇，供應鏈承壓。

Russia-Ukraine War: The conflict continues, the security situation in Europe remains tense, and energy and food markets are profoundly affected.
俄烏戰爭：戰事仍未停歇，歐洲安全局勢持續緊繃，能源與糧食市場受到深刻影響。

Thailand-Cambodia War: In December 2025, fierce clashes erupted on the Thai-Cambodian border. Although a ceasefire agreement was signed under international mediation and prisoners of war were released, nearly 100 people died and millions were displaced, highlighting the fragility of peace.
泰柬戰爭：2025年12月，泰柬邊境爆發激烈衝突，雖在國際斡旋下簽署停火協議並釋放戰俘，但近百人死亡、百萬人流離失所，和平仍顯脆弱。

Taiwan Strait Situation: US-China-Japan-Taiwan relations have entered a "strategic decision-making period." The US has increased arms sales and deployments, Taiwan has increased its defense budget significantly, Japan claims that Taiwan's survival affects its own security, and China continues to exert military pressure, leading to escalating regional tensions.
台海局勢：美中日台關係進入「戰略決斷期」，美國加強軍售與部署，台灣追加巨額國防預算，日本宣稱台灣存亡影響日本安全，中國則持續軍事壓力，區域緊張升高。

China's Stance: In the final year of the 14th Five-Year Plan, China faces external pressures and weak domestic consumption. Policies emphasize expanding domestic demand and technological self-sufficiency, but the foundation for economic recovery remains fragile.
中國肅條：中國在「十四五」收官之年，面臨外部壓力與內部消費疲弱，政策強調擴大內需、科技自主，但經濟回升基礎仍不穩固。

World Economy: Global growth slowed to approximately 2.3-2.8%, the slowest level since 2008. Trade barriers, policy uncertainty, and geopolitical conflicts led 70% of economies to lower their growth forecasts.
世界經濟：全球增速放緩至約2.3–2.8%，創下2008年以來最慢水平。貿易壁壘、政策不確定性與地緣衝突，令70%經濟體下調增速預測。

Outlook  展望
Challenges: Tariff barriers, the shadow of war, and geopolitical competition have filled the world with uncertainty.

挑戰：關稅壁壘、戰爭陰影和地緣政治競爭使世界充滿不確定性。

Hope: International cooperation remains the only way forward. Whether it's anti-fraud consensus, regional security dialogue, or global economic policy coordination, all can inject strength into peace and prosperity.
希望：國際合作仍是唯一出路。無論是反詐共識、區域安全對話，或是全球經濟政策協調，都能為和平與繁榮注入力量。

Conclusion  結語
In the new year, may we uphold our original aspirations amidst turmoil and find opportunities in adversity. Let 2026 be a year of rebuilding trust and pursuing peace.
新的一年，願我們在動盪中堅守初心，在困境中尋找契機。讓2026成為重建信任、追求和平的一年。