A stock market bull market is often a barometer of a great power's rise. The United States: A Long-Term Bull Market King, a Perpetual Motion Machine of Innovation (Classic): 1942-1966 Post-War Bull Market: Dow Jones Industrial Average rose over 500%, lasting 20 years; 1990s Tech Bull Market: S&P 500 rose over 400%. Secret: Innovation Wave (Automobiles → Internet) + Global Hegemony + Mature Institutions. Result: A century-long bull market, S&P 500 rose ten thousandfold. Long bull markets, short bear markets, guaranteed wins! Japan: A Bubble Frenzy, 30 Years of Aftereffects (Classic): 1986-1989: Nikkei surged from 10,000 to 39,000, a rise of over 300%. Secret: Low Interest Rates + Real Estate Speculation + Currency Frenzy. Result: The bubble burst in 1990, the Nikkei fell 80%, and it took 30 years to recover to its peak. A rapid bull market inevitably crashes! China 🇨🇳: Evolving from a rapid bull market to a long-term bull market – Classic examples: 2005-2007 Stock Reform Bull Market (up 500%+); 2014-2015 Leveraged Bull Market; 2025 Current Bull Market (Number One Globally, Up 40%+). Secret: Policy dividends + economic transformation + technological self-reliance (new energy, AI, chips). Result: Still on the way! Past booms and busts have been followed by more stable fundamentals, increasingly resembling a healthy American-style bull market. The US relied on innovation for long-term growth, Japan collapsed due to its bubble economy, and China is evolving from a "rapid bull market" to a "long-term bull market"—this rise of a great power has only just begun!