中國GDP比預期強勁，得益於基礎建設支出（2/2）

 Recently the New York Times reported the following:

China’s G.D.P. Stronger Than Expected, Led by Infrastructure Spending (2/2)

A steep slide in housing prices has left consumers less prosperous and less willing to spend, but the government is pouring money into new rail lines and other projects.

By Keith Bradsher - Reporting from Beijing and Yancheng, China

April 15, 2026

(continue)

China remains better positioned than other major economies to weather disruptions to oil and gas supplies from the war in Iran because of its large stockpiles of fossil fuels and dominant position in renewable energy. But China’s March trade data showed some unexpected shifts that sharply narrowed the country’s trade surplus.

China’s exports of toys and footwear, once strong categories, fell as higher plastic costs from the war in the Middle East squeezed manufacturers. Chemical companies have continued raising prices, suggesting further pressure in the months ahead.

Exports of rare-earth metals also plummeted in March. Beijing severely restricted shipments to Japan, amid a dispute over relations with Taiwan.

The most notable change has been a surge in semiconductor imports, as China rapidly builds data centers for artificial intelligence. Computer chip purchases jumped in January and February and hit a record high in March, up 54 percent from a year earlier in U.S. dollar terms.

A weak renminbi, China’s currency, has made computer chip imports more expensive, adding to the drag on the economy. Beijing has kept its currency weak to boost exports, making Chinese goods more competitive abroad.

But that same currency weakness raises import costs. The increasing semiconductor costs also reflect heightened global demand for the computer chips needed to power A.I. While the renminbi has strengthened slightly over the past year, it remains far weaker than what economists consider its true market value.

Export sectors that rely heavily on steel are thriving in China these days. Domestic steel is cheap because of chronic oversupply and reluctance to close state-owned steel mills. With other countries’ tariffs limiting direct exports of steel, manufacturers are channeling the glut into finished goods like cars and ships, which face fewer trade barriers.

Li Rongchun, who owns a small business in Yancheng supplying acetylene and oxygen to nearby shipyards, said he had more orders than he could handle. “Right now, shipyards are building a lot of oil tankers and container ships, and many foreign clients are coming,” he said.

But in another nearby town, the picture is far more bleak. A resident who gave only his family name, Shao, said that property prices at complexes in his neighborhood had dropped by more than half over the past year and that even steep discounts were not enticing buyers.

“There are just too many empty apartments — even at very low prices, no one wants to buy them,” he said.

Residential construction has slowed sharply over the past four years, but apartment sales have declined even faster, leaving a growing glut of unsold homes and making buyers wary of committing their savings to a purchase.

Mr. Kuijs said prices were likely to keep falling this year before bottoming out next year. But with residential construction already down so much, there isn’t much room for building activity to fall further. Any stabilization would ease a major drag on growth.

“That drag will remain this year,” Mr. Kuijs said, “but it probably won’t be as intense as it was in previous years.”

Translation

中國GDP比預期強勁，得益於基礎建設支出（2/2）

房價暴跌導致消費者收入減少，消費意願下降，但政府正大力投資新鐵路和其他項目

（繼續）

由於擁有龐大的化石燃料儲備和在再生能源領域的主導地位，中國比其他主要經濟體更能抵禦伊朗戰爭造成的油氣供應中斷。但中國3月的貿易數據顯示，出現了一些意料之外的變化，導致該國貿易順差大幅收窄。

玩具和鞋類出口曾是中國出口強項，但由於中東戰爭導致塑膠成本上漲，製造商面臨壓力，這些出口量下降。化工企業持續漲價，預示未來幾個月將面臨更大的壓力。

稀土金屬出口在3月也大幅下滑。在關於日本與台灣關係有爭議之下，北京嚴格限制了對日的出口。

最顯著的變化是半導體進口激增，因為中國正在快速建造人工智能數據庫。 1月和2月電腦晶片採購量大幅成長，3月創下歷史新高，以美元計價年增54%。

人民幣疲軟導致電腦晶片進口成本上升，進一步拖累了經濟成長。北京一直維持人民幣疲軟促進出口，提升中國商品在海外的競爭力。

但人民幣疲軟也推高了進口成本。半導體成本的上漲也反映出全球對人工智能所需電腦晶片的需求不斷增長。儘管人民幣在過去一年略有走強，但仍遠低於經濟學家認為的真正市場價值。

目前在中國，那些嚴重依賴鋼鐵的出口產業正蓬勃發展。由於長期供應過剩以及不願關閉國有鋼鐵廠，國內鋼鐵價格低廉。由於其他國家的關稅限制了鋼鐵的直接出口，製造商正將過剩的鋼鐵轉向汽車和船舶等成品，這些產品面臨的貿易壁壘較少。

Li Rongchun在Yancheng經營一家向附近造船廠供應乙炔和氧氣的小企業，他說訂單已經應接不暇。他說: 「現在造船廠正在建造大量的油輪和貨櫃船，很多外國客戶也來了」。

但在附近的另一個城鎮，情況卻黯淡得多。一位只透露姓Shao的居民說，他所在社區的房價在過去一年下跌了一半以上，即使大幅降價也無濟於事。

他說:「空置的住宅單位太多了 - 即使價格很低，也沒人願意買」。

過去四年，住宅建設速度大幅放緩，但住宅單位銷售速度下降得更快，導致大量房屋滯銷，也讓購屋者對拿出積蓄去買房猶豫不決。

Kuijs先生表示，房價今年可能會繼續下跌，明年才會觸底。但由於住宅興建大幅下滑，建築活動進一步下降的空間已經不大。任何穩定措施都將緩解增長所面臨的主要阻力。

Kuijs先生說: “這種阻力今年依然存在” ， “但可能不會像往年那麼嚴重。”

So, strong investments in rail lines and other infrastructure have offset weak consumer spending and a shrinking trade surplus. China’s consumer services sector has been struggling. Exports have propped up the Chinese economy through much of its housing slump since 2021. But this time they fail to offset broader weakness after a surge in the import of computer chips. I am interested in know how will the economy perform in the medium-term using infrastructure investments to offset weak consumer spendings. I am also interested in knowing where the investment money comes from.

中國GDP比預期強勁，得益於基礎建設支出（1/2）

Recently the New York Times reported the following:

China’s G.D.P. Stronger Than Expected, Led by Infrastructure Spending (1/2)

A steep slide in housing prices has left consumers less prosperous and less willing to spend, but the government is pouring money into new rail lines and other projects.

By Keith Bradsher - Reporting from Beijing and Yancheng, China

April 15, 2026

Strong investments in rail lines and other infrastructure offset weak consumer spending and a shrinking trade surplus as the Chinese economy continued to grow in the first three months of the year.

China’s National Bureau of Statistics announced on Thursday that the country’s gross domestic product grew 1.3 percent from the last three months of 2025. If that pace continues through the year, the Chinese economy will expand at an annual rate of about 5.3 percent.

In comparison with the same period last year, China’s gross domestic product was 5 percent larger in the first quarter. The figures came in slightly above economists’ forecasts for 4.8 percent growth.

One reason this year’s growth looked stronger was that the statistical agency said Thursday that the economy was weaker in the first half of last year than previously reported. That made this year’s results look better by comparison.

A long, steep slide in apartment prices has eroded China’s household savings, prompting many people to cut spending. Retail sales rose just 2.4 percent in the first quarter from a year earlier, and only 1.7 percent in March, considerably weaker than what most economists had expected. Car sales fell 17 percent in the quarter after the government scaled back subsidies that had driven a boom last year.

That sluggishness contrasts sharply with an 8.9 percent increase in infrastructure investments in the first quarter from a year ago, as spending surged on the electricity grid, sewer lines and rail lines. China has long relied on building roads, bridges, ports, and other infrastructure projects to revive a slowing economy. But rising debt, especially among local and provincial governments, is making this strategy harder to sustain.

China’s consumer services sector has been struggling. Restaurants have closed across the country, and those still open echo with empty tables. Xiao Nan Guo, a nationwide chain offering Shanghainese cuisine at premium prices, exemplifies the downturn. After peaking at 139 outlets in 2015, it quietly shuttered most of its remaining locations in early February.

Exports have propped up the Chinese economy through much of its housing slump since 2021. But this time they failed to offset broader weakness after a big surge in China’s largest category of imports, computer chips.

Weak demand at home has pushed Chinese companies to seek growth abroad. Exports grew during the first three months of this year at their fastest quarterly clip in more than four years, led by electric car exports, up 78 percent, and a 50 percent rise in shipments of lithium batteries. Louis Kuijs, chief economist for Asia and the Pacific at S&P Global Ratings, said overseas sales were keeping factories busy across China.

“It has been robust exports that have been a key driver of industrial production and G.D.P.,” he said.

It is unclear if export strength will last. Tariffs and rising raw material costs from the war in Iran appeared to weigh on the Chinese economy in March. Chinese officials are expected to press for relief from U.S. tariffs at a summit next month in Beijing between President Trump and Xi Jinping, China’s top leader.

(to be continued)

Translation

中國GDP比預期強勁，得益於基礎建設支出（1/2）

房價暴跌導致消費者收入減少，消費意願下降，但政府正大力投資新鐵路和其他項目

今年頭三個月，中國經濟持續增長，鐵路和其他基礎設施的強勁投資抵消了消費支出疲軟和貿易順差收窄的影響。

中國國家統計局週四公佈，2025年第四季中國國內生產毛額（GDP）季增1.3%。如果這項成長率維持到年底，中國經濟全年成長率將達到約5.3%。

與去年同期相比，中國第一季GDP成長5%，略高於經濟學家先前預測的4.8%的增幅。

今年經濟成長看起來更強勁的原因之一是，國家統計局週四表示，去年上半年的經濟疲軟程度低於先前公佈的數據。這使得今年的經濟成長數據相比之下顯得更好。

長期且大幅下跌的房價侵蝕了華人家庭的儲蓄，促使許多人削減開支。第一季零售額年增僅2.4%，3月更是只有1.7%，遠低於多數經濟學家的預期。由於政府縮減了去年推動汽車市場繁榮的補貼，本季汽車銷量下降了17%。

這種疲軟的局面與第一季基礎設施投資年增8.9%形成鮮明對比，電力網路、污水管道和鐵路建設的支出大幅增加。長期以來，中國一直依靠建設道路、橋樑、港口和其他基礎設施項目來提振放緩的經濟。但不斷上升的債務，尤其是地方和省級政府的債務，使得這項戰略難以持續。

中國消費服務業一直舉步維艱。全國各地的餐廳紛紛關門歇業，仍在營業的餐廳也門可羅雀。以高價上海菜聞名的全國連鎖餐廳小南國 (Xiao Nan Guo) 是這一頹勢的典型例子。該餐廳在2015年達到139家門市的鼎盛時期後，於今年2月初悄悄關閉了剩餘的大部分門市。

自2021年以來，出口一直是支撐中國經濟度過房地產市場低迷時期的主要力量。但這次，由於中國最大進口類別 - 電腦晶片 - 的大幅增長，出口未能抵消整體經濟的疲軟。

國內需求疲軟迫使中國企業尋求海外增長。今年前三個月，中國出口季度增長創四年多來最快，由電動車出口增長78%，鋰電池出貨量增長50%所帶動。標普全球評級亞太區首席經濟學家Louis Kuijs表示，海外銷售使中國各地的工廠保持了繁忙的生產狀態。

他說:「強勁的出口一直是工業生產和GDP的關鍵驅動力」。

出口強勁勢頭能否持續尚不明朗。 3月份，關稅以及伊朗戰爭導致的原物料成本上漲似乎對中國經濟造成了壓力。預計下個月在北京舉行的特朗普總統與中國最高領導人習近平峰會上，中國官員將敦促美國取消對華關稅。

（待續）

Up to 5,000 Cuban Fighters on Russian Side, US Report

Recently NHK News on-line reported the following:

最大5000人のキューバ人戦闘員がロシア側で参加か 米報告書

2026年4月15日午後8時12分

ウクライナ情勢

アメリカのニュースサイトは、ウクライナで最大5000人に上るキューバ人の戦闘員がロシア側について戦うなどして協力しているとするアメリカ国務省がまとめた報告書の内容を報じました。

アメリカのニュースサイト、アクシオスは14日、国務省がまとめた報告書の内容として、ウクライナへの軍事侵攻を続けるロシアを支援する外国の戦闘員の国籍で特定が可能なもののうち、キューバ人が最大規模のグループの1つとして浮上していると伝えました。

1000人から最大5000人が常時、ロシア側について戦闘に参加していると分析し、外交や政治面でも協力しているとしています。

一方、キューバ政府が戦闘員を派遣したかどうかは公開されている記録では確認できないものの、黙認したなどの兆候があるということです。

この報告書は、今月一部の議会の委員会に送付されたとしています。

アクシオスは、トランプ政権がキューバに対して政権交代を迫るための圧力を強めるなかで報告書の内容が明らかになったとして「キューバは、世界中でアメリカの国益を損なっている」と述べる上院議員の発言もあわせて報じています。

ロシア軍は、北朝鮮やアフリカなどから集めた兵士を投入し、不足した兵力を補ってきたとされています。

Translation

Up to 5,000 Cuban Fighters on Russian Side, US Report

April 15, 2026, 8:12 PM

Ukraine Situation

American news sites had reported on a US State Department report stating that up to 5,000 Cuban fighters were cooperating with Russia in Ukraine and fighting on its side.

The American news site Axios reported on the 14th that the State Department report indicated that, based on their nationality, Cubans were one of the largest groups of foreign fighters supporting Russia's military invasion of Ukraine,

The report analyzed that between 1,000 and up to 5,000 Cuban fighters were consistently participating in combat on the Russian side, and were also cooperating diplomatically and politically.

At the same time, while publicly available records did not confirm whether the Cuban government had sent fighters, there were indications that it tacitly approved the act.

This report was reportedly sent to some congressional committees this month.

Axios also reported that the report's contents came to light as the Trump administration increased pressure on Cuba to force a change of government, and quoted a senator as saying, "Cuba is harming American national interests around the world."

The Russian military was said to have been supplementing its troop shortages by deploying soldiers recruited from North Korea, Africa, and other regions.

So, American news sites have reported on a US State Department report stating that up to 5,000 Cuban fighters are cooperating with Russia in fighting Ukraine. Probably, this is the reason why Russia sent oil to Cuba to alleviate the oil shortage problem.

China's March Export Growth Slows Significantly; the Focus is How High Oil Prices Will Affect

Recently NHK News on-line reported the following:

中国 3月輸出額 伸びが大幅鈍化 原油高がどう影響するか焦点

2026年4月14日午後6時04分

中国

中国の3月の輸出額は、ヨーロッパや東南アジア向けが伸びたことから、去年の同じ月と比べて2％余り増えました。ただ、前の2か月間と比べると伸びが大幅に鈍化していて、イラン情勢の緊迫化に伴う原油価格の高止まりが、今後、どう影響するかが焦点です。

中国の税関当局が、14日に発表した貿易統計によりますと、3月の輸出額は、去年の同じ月と比べてドル換算で2.5％増加しました。

このうち、

▽アメリカ向けは、トランプ政権による関税措置の影響で26％余り減った一方、

▽ヨーロッパや東南アジア向けが伸び、アメリカの減少分を補いました。

ただ、21％余り増加した前の2か月間と比べると、輸出額の伸びは、大幅に鈍化しました。

イラン情勢の緊迫化に伴って原油価格の高止まりが続けば、中国の主要な輸出先の内需が冷え込み、輸出に悪影響がおよぶという指摘も出ていて、今後、原油価格の高止まりが中国の輸出にどう影響するかが焦点です。

一方、輸入額は、去年の同じ月と比べ、27.8％増加しました。

また、日本との貿易は、日中関係が悪化する中でも輸出額が3％余り、輸入額が35％余り、それぞれ増えました。

Translation

China's March Export Growth Slows Significantly; the Focus is  How High Oil Prices Will Affect

April 14, 2026, 6:04 PM

China

China's March exports increased by more than 2% compared to the same month last year, driven by growth in exports to Europe and Southeast Asia. However, compared to the previous two months this represented a significant slowdown, the focus now would be on how the persistently high crude oil prices due to the escalating tensions in Iran could affect the situation.

According to trade statistics released by Chinese customs authorities on the 14th, March exports increased by 2.5% in dollar terms compared to the same month last year.

Of this,

▽On the one hand exports to the United States decreased by more than 26% due to tariff measures imposed by the Trump administration,

▽Exports to Europe and Southeast Asia increased, offsetting the decline in exports to the United States.

However, compared to the previous two months, when exports increased by more than 21%, the growth in export value decreased significantly.

With tensions escalating in Iran and persistently high crude oil prices, there were also concerns that the slowdown in domestic demand in China's major export markets could negatively impact exports. The focus now would be how persistently high crude oil prices might affect Chinese exports.

On the other hand, imports increased by 27.8% compared to the same month last year.

Furthermore, trade with Japan saw increases of over 3% in exports and over 35% in imports respectively, even amid deteriorating Japan-China relations.

So, China's March exports increased by more than 2% compared to the same month last year, driven by growth in exports to Europe and Southeast Asia. However, compared to the previous two months this represented a significant slowdown. Apparently, the persistently high crude oil prices due to the escalating tensions in Iran is affecting China’s trading performance.

銀行被警告有關Anthropic公司推出的新型強大人工智能技術

Recently the NYT reported the following:

Banks Are Warned About Anthropic’s New, Powerful A.I. Technology

In an unusual move, the Treasury secretary and the Federal Reserve chair gathered bank executives to caution about cyberthreats posed by artificial intelligence.

The NYT -By Rob Copeland and Colby Smith

April 10, 2026

The leaders of some of America’s largest banks were warned by a top government official this week about a new artificial intelligence model from Anthropic that could lead to heightened risks of cyberattacks, according to three people briefed on the matter but not permitted to speak publicly.

Treasury Secretary Scott Bessent delivered the stark message on Tuesday morning to a small group of chief executives, including those from Bank of America, Citi and Wells Fargo, in a hastily arranged meeting in Washington. Mr. Bessent, the people said, cautioned the banks that allowing the new A.I. software to run through their internal computer systems could pose a serious risk to sensitive customer data.

The Federal Reserve chair, Jerome H. Powell, who has spoken publicly in recent weeks about the threat of cyberattacks against the financial system, also attended Tuesday’s meeting.

The warnings relate to a new intelligence model that Anthropic named Claude Mythos Preview. Anthropic has said the model is particularly good at identifying security vulnerabilities in software that human developers could not find.

At Tuesday’s meeting, the people briefed on the matter said, the bank executives were told that the new model might be so effective at finding security weaknesses inside banks that hackers or other so-called third-party bad actors could get their hands on the information and exploit it.

Anthropic itself has warned about the risks. The company said this week that the model’s advancements were so powerful and potentially dangerous that they could not safely be released to the public yet and would instead be contained to a coalition of 40 companies that it called “Project Glasswing.”

That group includes at least one bank, JPMorgan Chase, the nation’s largest, which earlier said it would use the software “to evaluate next-generation A.I. tools for defensive cybersecurity across critical infrastructure.”

Jamie Dimon, JPMorgan’s chief executive, was invited to Tuesday’s briefing but skipped it for previously arranged travel plans, according to a person familiar with the matter.

The Trump administration and Anthropic are locked in a legal battle over the Defense Department’s recent designation of the company as a “supply chain risk.” The government issued that designation after Anthropic insisted on putting limits on the use of its A.I. technology in war.

In a statement, a Treasury spokesperson said, “This week’s meeting was convened by Secretary Bessent to initiate a process for planning and coordination of our approach to the rapid developments taking place in A.I.”

The existence of the meeting was reported earlier by Bloomberg News. The Fed declined to comment.

“We’re taking every step we can to make sure that everybody is safe from these potential risks, including Anthropic agreeing to hold back the public release of the model until our officials have figured everything out,” Kevin A. Hassett, director of the National Economic Council, told Fox News on Friday. “There’s definitely a sense of urgency.”

Logan Graham, an Anthropic executive, said in a statement that the new technology would help “secure infrastructure that is critical for global security and economic stability.”

Translation

銀行被警告有關Anthropic公司推出的新型強大人工智能技術

財政部長和聯儲局會主席罕見地召集銀行高層，就人工智能帶來的網路威脅發出警告

2026年4月10日

據三位知情人士透露，本週，一位高級政府官員警告美國一些大型銀行的領導人，Anthropic公司推出的新型人工智能模式可能加劇網路攻擊的風險。這些知情人士未獲批准公開談論此事。

週二上午，財政部長貝森特在華盛頓召開了一次緊急會議，向包括美國銀行、花旗集團和富國銀行在內的一小群執行長傳達了這一嚴峻警告。知情人士稱，貝森特警告各銀行，允許這款新型人工智能軟件在其內部電腦系統上運行，可能會對敏感的客戶資料構成嚴重威脅。

聯儲局會主席鮑威爾（Jerome H. Powell）近幾週來多次公開談論金融體系面臨的網路攻擊威脅，他也出席了周二的會議。

這些警告與Anthropic公司名為「Claude Mythos Preview」的新型情報模型有關。 Anthropic公司表示，該模型尤其擅長識別人類開發人員無法發現的軟件安全漏洞。

知情人士透露，在周二的會議上，銀行高層被告知，該新模型在發現銀行內部安全漏洞方面可能非常有效，以至於駭客或其他所謂的第三方惡意行為者可能會取得這些漏洞資訊並加以利用。

Anthropic公司本身也對相關風險發出了警告。該公司本週表示，該模型的改進非常強大，潛在危險性也很高，因此目前還不能安全地向公眾發佈，而是會先限制在由40家公司組成的名為「Glasswing計劃」裡。

該集團至少包括一家銀行 - 美國最大的銀行摩根大通。摩根大通先前曾表示，將使用該軟件「評估下一代人工智能工具在關鍵基礎設施防禦網路安全方面的應用」。

據一位知情人士透露，摩根大通執行長Jamie Dimon受邀參加了周二的簡報會，但他因事先安排好的行程而缺席。

特朗普政府與Anthropic公司就國防部近期將該公司認定為「供應鏈風險」一事陷入法律糾紛。此前，Anthropic公司堅持限制其人工智能技術在戰爭中的使用，政府因此做出了這項認定。

財政部發言人在一份聲明中表示：“本週的會議由貝森特部長召集，旨在啟動一個流程，以規劃和協調我們應對人工智能領域快速發展的方法。”

彭博新聞先前報導了這次會議的存在。聯儲局拒絕置評。

國家經濟委員會主任Kevin A. Hassett週五告訴霍仕新聞: 「我們正在採取一切可能的措施，確保所有人免受這些潛在風險的影響，包括Anthropic公司同意暫緩公開該模型，直到我們的官員徹底弄清楚所有情況」; 「我們確實感到事態緊急」。

Anthropic公司高層Logan Graham在聲明中表示，這項新技術將有助於「保障對全球安全和經濟穩定至關重要的基礎設施」。

So, some of America’s largest banks have been warned by a top government official about a new artificial intelligence model from Anthropic that could lead to heightened risks of cyberattacks. The warnings are related to a new intelligence model that Anthropic named Claude Mythos Preview. This new model can be so effective at finding security weaknesses inside banks that hackers or other so-called third-party bad actors may get their hands on the information and exploit it. Apparently, Anthropic has found something very interesting.

US March Consumer Price Index Rises 3.3% Due to Surge in Gasoline Prices

Recently NHK News on-line reported the following:

US March Consumer Price Index (Source NHK)

米 3月消費者物価指数 3.3％上昇 ガソリン価格の急上昇で

2026年4月10日午後9時57分

(2026年4月11日午前0時57分更新)

消費者物価指数

円相場や株価にも影響する、アメリカの3月の消費者物価指数は、去年の同じ月と比べて3.3％の上昇となりました。イラン情勢を受けてガソリン価格などが急上昇したことが主な要因で、1年10か月ぶりの高い上昇率です。

アメリカ労働省が10日に発表した3月の消費者物価指数は、前年同月と比べて3.3％の上昇となりました。

上昇率は、前回 2月を0.9ポイント上回り、おととし5月以来、1年10か月ぶりの高い水準となっています。

イラン情勢を受けてガソリン価格が急上昇したことが主な要因で、エネルギー全体では12.5％上昇しました。

また、物価の瞬間風速を示すと言われる前月からの伸び率は0.9％となり、2月の0.3％から大きく上昇しました。

このうちガソリン価格の上昇率は21.2％と、統計を取り始めた1967年以来、最も高くなりました。

一方、変動の大きい食品やエネルギーを除いた、いわゆるコアの物価指数は、去年の同じ月と比べて2.6％の上昇となり、前の月を0.1ポイント上回りました。

アメリカとイランによる停戦合意後も、ホルムズ海峡の船舶の航行には大きな変化が見られず、今後の協議の行方も依然として不透明で、インフレが再び加速することへの警戒感が高まっています。

Translation

US March Consumer Price Index Rises 3.3% Due to Surge in Gasoline Prices

April 10, 2026, 9:57 PM

(Updated April 11, 2026, 12:57 AM)

Consumer Price Index

The US Consumer Price Index for March, which also affected the yen exchange rate and stock prices, rose 3.3% compared to the same month last year. The main factor was the sharp rise in gasoline prices and other prices due to the situation in Iran, representing the highest increase in 1 year and 10 months.

The US Department of Labor announced on the 10th that the Consumer Price Index for March rose 3.3% compared to the same month last year.

This increase was 0.9 percentage points higher than February, the previous month and was the highest level in 1 year and 10 months since May two years ago.

The main factor was the sharp rise in gasoline prices due to the situation in Iran, with overall energy prices rising 12.5%.

Furthermore, the month-on-month increase, often considered an indicator of instantaneous price fluctuations, was 0.9%, a significant increase compared to 0.3% in February.

Of this, gasoline prices rose by 21.2%, the highest increase since statistics collection began in 1967.

Meanwhile, the so-called core price index that excluded volatile food and energy prices, rose by 2.6% compared to the same month last year, it was 0.1 percentage points higher than the previous month.

Even after a ceasefire agreement between the United States and Iran was reached, significant change in shipping traffic in the Strait of Hormuz had not been noticed, and as the outcome of future negotiations remained uncertain, concerns about a renewed acceleration of inflation was rising.

So, the US Consumer Price Index for March rose 3.3% compared to the same month last year. The main factor was the sharp rise in gasoline prices and other prices due to the situation in Iran. Apparently, concerns about a renewed increase in inflation remain high.

美國計劃自動登記男性兵役資格

Recently BBC reported the following:

US plans to automatically register men for military draft eligibility

BBC - Bernd Debusmann Jr - White House reporter

9 Apr 2026

Young American men could be automatically registered for eligibility for the military draft as soon as December, ending decades of self-registration.

The new rule, proposed by a government agency, would see men being registered automatically rather than being asked to do so themselves within 30 days of their 18th birthday.

Proponents of the plan say that automatic registrations will save the government millions of dollars that are spent every year reminding those eligible that registration is required by law for men between 18 and 25.

The rule is still being reviewed and must be approved before implementation, though has prompted fears of mandatory US conscription in the event of a crisis.

The last US military draft took place in 1973 after years of massive public opposition during the Vietnam War.

The government agency, the Selective Service System (SSS), submitted the proposal to the Office of Information and Regulatory Affairs on 30 March, according to the office's website.

The SSS website notes that the change "transfers responsibility for registration from individual men to SSS" through integration with other federal data sources, which it believes will result in a "streamlined" process.

In the US, most men between the ages of 18 and 25 are already required to register. Failing to do so is a crime, and can theoretically lead to five years in federal prison.

While prison sentences are virtually non-existent, failing to do so can also lead to an individual being made ineligible for federal student financial aid and federal jobs. Non-citizens who do not register can also be denied US citizenship.

A vast majority of US states and territories also automatically register men for selective service when driver's licenses are issued.

Despite those rules, compliance fell to 81% in 2024, according to government data.

The new change in favour of automatic registration was approved by Congress in December as part of the National Defense Authorization Act, which authorises funding for the US military and its operations around the globe.

Pennsylvania Democratic Representative Chrissy Houlahan, who sponsored the language, was quoted as saying at the time that the move would allow the government to "rededicate resources".

"Basically that means money, towards readiness and towards mobilisation," Houlahan was quoted as saying by Military Times. "Rather than towards education and advertising campaigns driven to register people."

The change, however, prompted fears among some Americans that the US is moving towards a military draft if the war with Iran escalates or a crisis breaks out in the future.

White House Press Secretary Karoline Leavitt directly addressed a question on the draft and the possibility of US troops on the ground in Iran during an interview with Fox News in early March.

"It's not part of the current plan right now, but the president, again, wisely keeps his options on table," Leavitt responded. "There's no greater priority or responsibility to this president than, of course, protecting the American people and protecting our troops."

A wartime draft has been implemented by the US government six times in the country's history, most recently during the Vietnam War.

Approximately 1.8 million Americans were drafted during the war, which ultimately led to the creation of an all-volunteer military in 1973. Selective service registration was reinstated by then-President Jimmy Carter in 1980.

Translation

美國計劃自動登記男性兵役資格

最早由12月開起，美國年輕男性可能將自動登記入伍，結束數十年來自行登記的製度。

這項由政府機構提出的新規將要求男性在年滿18歲後的30天內會被自動登記，而不是像以往那樣被要求自行登記。

該計劃的支持者表示，自動登記將為政府節省數百萬美元，這些費用每年都用於提醒符合資格的18至25歲男性依法必須進行兵役登記。

該規定仍在審查中，必須獲得批准才能實施，但已引發人們對美國在危機情況下強制徵兵的擔憂。

在越戰期間經歷了多年的大規模公眾反對之後，美國最後一次實行徵兵制是在 1973 年。

根據美國聯邦資訊與監管事務辦公室網站顯示，美國兵役登記局（SSS）於3月30日向該辦公室提交了這項提案。

SSS網站指出，這項變更將透過與其他聯邦資料來源整合， “把登記責任從個人轉移到SSS” ，並認為這將使流程更加 “精簡” 。

在美國，大多數18至25歲的男性已被要求進行兵役登記。未登記屬於犯罪行為，理論上可判處五年聯邦監禁。

雖然監禁刑罰實際上並不存在，但未登記也可能導致個人失去聯邦學生資助和聯邦政府工作的資格。未登記的非公民也可能被拒絕授予美國公民身份。

絕大多數美國州和地區在發放駕照時也會自動登記男性加入兵役。

儘管有這些規定，但根據政府數據，2024年的登記率已降至81%。

去年12月，國會批准了自動登記的新規定，作為《國防授權法案》的一部分。該法案授權為美國軍方及其在全球的行動提供資金。

賓州民主黨眾議員Chrissy Houlahan是該條款的發起人，她當時表示，此舉將使政府能夠「重新分配資源」。

據《軍事時報》報道，Houlahan說：“這基本上意味著將資金用於戰備和動員，而不是用於教育民眾去登記和去做廣告宣傳活動。”

然而這改变令一些美國人擔心，如果與伊朗的戰爭升級或未來出現危機，美國可能會因此轉向徵兵制。

白宮新聞秘書Karoline Leavitt在3月初接受霍仕新聞採訪時，直接回答了有關徵兵和美軍可能在伊朗駐紮的問題。

Leavitt回應: 「這不屬於現行計劃的一部份，但總統再次明智地保留了所有選項」; 「對這位總統而言，最重要的任務和責任當然是保護美國公民和保護我們的軍隊」。

美國歷史上曾六次實行戰時徵兵制，最近一次是在越戰期間。

戰爭期間約有180萬美國人被徵召入伍，最終促成了1973年全志願兵役制的成立。 1980年，時任總統卡特恢復了兵役登記制度。

So, young American men could be automatically registered for eligibility for the military draft as soon as December, ending decades of self-registration. The new rule would see men being registered automatically rather than being asked to do so themselves within 30 days of their 18th birthday. The change, however, prompted fears among some Americans that the US is moving towards a military draft if the war with Iran escalates or a crisis breaks out in the future. I am wondering whether this change will be implemented as there may be political hurdles to be overcome.