随着2025年四季度外卖平台补贴力度收紧，行业逐渐向理性竞争回归，瑞幸也在主动调整策略以缓解盈利压力。事实上，瑞幸早在2024年就开始收紧9.9元低价活动覆盖范围，2025年进一步限制于少量基础款，多数产品回升至10.9-13.9元区间，通过优化定价策略平衡营收增长与盈利水平。这种调整背后，是瑞幸对“规模+盈利”双重目标的追求，也是行业从价格战向价值竞争转型的缩影。
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In just a few weeks, the four astronauts will be strapped into a spacecraft, perched on the top of the rocket, ready to blast off to the Moon.
The California ruling went into effect on Jan. 15, and included a 30-day business suspension across the state unless the company ceased using the term in 60 days or changed its systems. Tesla responded in typical fashion: A tongue-in-cheek social post and a claim that sales would not be hit by the decision. Then, in January, the company effectively discontinued Basic Autopilot in the U.S., reshuffling its fleet offering with a standard traffic awareness mode and an option to upgrade your vehicle to FSD, now called "Full Self-Driving (Supervised)."
回到最初的问题：德索托的理论是正确的，1990年代的改革也曾奏效，为何秘鲁仍然重新陷入危机？答案是：产权改革只是第一步，制度建设却是长期工程。改革让资产可以资本化，却没有解决更根本的问题——谁来持续保护这些产权？