{"id":230834,"date":"2025-02-26T18:13:59","date_gmt":"2025-02-26T10:13:59","guid":{"rendered":"https:\/\/www.hkubs.hku.hk\/?p=230834&#038;post_type=thought-leadership&#038;preview_id=230834"},"modified":"2025-02-26T18:37:52","modified_gmt":"2025-02-26T10:37:52","slug":"will-trump-revalue-gold-reserves-to-launch-a-sovereign-wealth-fund","status":"publish","type":"thought-leadership","link":"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/will-trump-revalue-gold-reserves-to-launch-a-sovereign-wealth-fund\/","title":{"rendered":"\u7279\u6717\u666e\u6703\u91cd\u4f30\u9ec3\u91d1\u5132\u5099\u4f86\u5553\u52d5\u4e3b\u6b0a\u57fa\u91d1\u55ce\uff1f"},"content":{"rendered":"<p>\u7279\u6717\u666e\u4e8c\u5ea6\u4e0a\u53f0\u5f8c\uff0c\u5404\u7a2e\u653f\u7b56\u8fc5\u901f\u767b\u5834\uff0c\u57f7\u884c\u6642\u5927\u5200\u95ca\u65a7\u3001\u96f7\u53b2\u98a8\u884c\u3002\u624d\u4e00\u500b\u591a\u6708\uff0c\u6539\u8b8a\u6bd4\u4efb\u4f55\u65b0\u4e0a\u4efb\u7684\u570b\u5bb6\u5143\u9996\u6240\u505a\u7684\u70ba\u591a\uff0c\u4ee4\u4eba\u76ee\u4e0d\u6687\u7d66\u3002\u5728\u570b\u5167\u4e8b\u52d9\u65b9\u9762\uff0c\u5927\u91cf\u9a45\u9010\u5883\u5167\u7684\u975e\u6cd5\u79fb\u6c11\u548c\u88c1\u6e1b\u806f\u90a6\u653f\u5e9c\u90e8\u9580\u548c\u50f1\u54e1\uff0c 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fund)<\/span>\uff0c\u4e26\u8cac\u6210\u8ca1\u653f\u90e8\u9577\u548c\u5546\u52d9\u90e8\u9577\u5728<span>90<\/span>\u5929\u5167\u63d0\u4ea4\u6709\u95dc\u65b9\u6848\uff0c\u5305\u62ec\u8cc7\u91d1\u7c4c\u96c6\u6a5f\u5236\u3001\u6295\u8cc7\u7b56\u7565\u548c\u7ba1\u6cbb\u6a21\u5f0f\u7b49\u3002\u8ca1\u653f\u90e8\u9577\u8c9d\u68ee\u7279\u7a4d\u6975\u56de\u61c9\uff0c\u8a8d\u70ba\u53ef\u5728<span>12<\/span>\u500b\u6708\u5167\u505a\u597d\u6e96\u5099\u53ca\u958b\u59cb\u904b\u4f5c\u3002<\/p>\n<p>\u7c21\u55ae\u800c\u8a00\uff0c\u4e3b\u6b0a\u57fa\u91d1\u662f\u570b\u5bb6\u6216\u653f\u5e9c\u64c1\u6709\u53ca\u7ba1\u7406\u3001\u6295\u8cc7\u65bc\u570b\u5167\u53ca\u570b\u5916\u7684\u8cc7\u7522\u3002\u8cc7\u91d1\u4e00\u822c\u4f86\u81ea\u51fa\u552e\u77f3\u6cb9\u548c\u7926\u7522\u7b49\u5929\u7136\u8cc7\u6e90\uff0c \u5982\u632a\u5a01\u548c\u6c99\u7279\u963f\u62c9\u4f2f\u7684\u4e3b\u6b0a\u57fa\u91d1\uff0c\u4e5f\u6709\u4f86\u81ea\u591a\u5e74\u7d2f\u7a4d\u7684\u5916\u8cbf\u76c8\u9918\uff0c\u5982\u4e2d\u570b\u548c\u65b0\u52a0\u5761\u7b49\u3002<\/p>\n<p>\u81f3\u65bc\u8a2d\u7acb\u4e3b\u6b0a\u57fa\u91d1\u7684\u76ee\u7684\uff0c\u4e3b\u8981\u662f\u5c07\u8cc7\u91d1\u7528\u65bc\u570b\u5bb6\u767c\u5c55\u76ee\u6a19\u3001\u6216\u7528\u4ee5\u7a69\u5b9a\u653f\u5e9c\u8ca1\u653f\u3001\u53c8\u6216\u63d0\u9ad8\u7ba1\u7406\u570b\u5bb6\u8cc7\u7522\u7684\u6548\u7387\u3002\u5982\u6c99\u7279\u963f\u62c9\u4f2f\u8981\u63d0\u9ad8\u5728\u570b\u969b\u9ad4\u80b2\u4e8b\u696d\u4e0a\u7684\u77e5\u540d\u5ea6\uff0c\u4fbf\u901a\u904e\u5176\u540d\u70ba\u300c\u516c\u5171\u6295\u8cc7\u57fa\u91d1\u300d<span>(Public Investment Fund)<\/span>\u7684\u4e3b\u6b0a\u57fa\u91d1\uff0c\u6536\u8cfc\u4e86\u4e00\u4e9b\u8db3\u7403\u7403\u6703\uff0c\u9ad8\u85aa\u7db2\u7f85\u4e86\u5982<span>C<\/span>\u6717\u62ff\u5ea6\u7b49\u77e5\u540d\u7403\u54e1\uff0c \u4e26\u8d0a\u52a9\u6578\u6708\u524d\u570b\u969b\u5973\u5b50\u7db2\u7403\u5354\u6703<span>(WTA)<\/span>\u5e74\u7d42\u7e3d\u6c7a\u8cfd\u7b49\u9805\u76ee\u3002\u9019\u662f\u6bd4\u8f03\u8f15\u9b06\u7684\u4f8b\u5b50\u3002\u4e00\u822c\u7684\u4e3b\u6b0a\u57fa\u91d1\uff0c\u591a\u7528\u65bc\u8f03\u70ba\u67af\u71e5\u7684\u57fa\u790e\u5efa\u8a2d\u3001\u7522\u696d\u653f\u7b56\u3001\u91d1\u878d\u6295\u8cc7\u7b49\u3002<\/p>\n<p>\u7279\u6717\u666e\u7c3d\u7f72\u6210\u7acb\u4e3b\u6b0a\u57fa\u91d1\u7684\u884c\u653f\u547d\u4ee4\u4e0a\uff0c\u8aaa\u6210\u7acb\u57fa\u91d1\u662f\u8981\u63d0\u9ad8\u8ca1\u653f\u6301\u7e8c\u6027\u3001\u6e1b\u8f15\u7f8e\u570b\u5bb6\u5ead\u548c\u5c0f\u578b\u4f01\u696d\u7684\u7a05\u52d9\u8ca0\u64d4\u3001\u53ca\u63a8\u52d5\u7f8e\u570b\u5728\u570b\u969b\u4e0a\u7684\u7d93\u6fdf\u548c\u6230\u7565\u9818\u5c0e\u5730\u4f4d\u3002\u9019\u90fd\u662f\u7c60\u7d71\u7684\u8aaa\u6cd5\uff0c\u8a73\u7d30\u5167\u5bb9\u5927\u6982\u8981\u7b49<span>90<\/span>\u5929\u5167\u51fa\u7c60\u7684\u65b9\u6848\u624d\u6709\u4ea4\u4ee3\u3002\u7136\u800c\uff0c\u4e3b\u6b0a\u57fa\u91d1\u5982\u4f55\u63d0\u9ad8\u7f8e\u570b\u653f\u5e9c\u7684\u8ca1\u653f\u80fd\u529b\uff0c\u5e36\u4f86\u8ca1\u653f\u6301\u7e8c\u6027\u548c\u6e1b\u8f15\u7a05\u52d9\uff0c\u503c\u5f97\u53c3\u8a73\u3002\u9019\u88cf\u7c21\u55ae\u5730\u5206\u5169\u7a2e\u53ef\u80fd\uff0c\u4e00\u662f\u5728\u57fa\u91d1\u6210\u7acb\u6642\uff0c\u653f\u5e9c\u540c\u6642\u6709\u65b0\u7684\u8cc7\u91d1\u6ce8\u5165\u57fa\u91d1\uff0c\u6bcb\u9700\u6539\u8b8a\u5df2\u6709\u7684\u8ca1\u653f\u5b89\u6392\u3002\u9019\u7576\u7136\u4f7f\u653f\u5e9c\u8ca1\u653f\u66f4\u52a0\u5145\u5be6\uff0c\u4f46\u9019\u4e9b\u65b0\u8cc7\u91d1\u61c9\u5426\u7528\u4f86\u6210\u7acb\u4e3b\u6b0a\u57fa\u91d1\uff0c\u9084\u662f\u6709\u66f4\u597d\u7528\u9014\uff0c\u5982\u6e1b\u8f15\u7576\u524d\u653f\u5e9c\u7684\u50b5\u52d9\u548c\u5c07\u4f86\u7684\u5229\u606f\u958b\u652f\u3002\u53e6\u4e00\u7a2e\u53ef\u80fd\u662f\u653f\u5e9c\u6c92\u6709\u65b0\u8cc7\u91d1\u6ce8\u5165\u4e3b\u6b0a\u57fa\u91d1\uff0c\u9700\u8981\u901a\u904e\u7a05\u6536\u6216\u501f\u8cb8\u5f9e\u5e02\u5834\u53d6\u5f97\u8cc7\u91d1\u4f86\u6295\u8cc7\u3002\u5982\u679c\u653f\u5e9c\u6295\u8cc7\u7684\u56de\u5831\u7387\u548c\u5e02\u5834\u76f8\u7d04\uff0c\u5012\u4e0d\u5982\u5c07\u8cc7\u91d1\u7559\u5728\u5e02\u5834\uff0c\u7121\u9700\u591a\u6b64\u4e00\u8209\uff0c\u907f\u514d\u6392\u64e0\u6548\u61c9\u3002<\/p>\n<p>\u7121\u8ad6\u54ea\u7a2e\u60c5\u6cc1\uff0c\u4e3b\u6b0a\u57fa\u91d1\u53ef\u80fd\u8d77\u5230\u7684\u7d93\u6fdf\u6548\u679c\uff0c\u4e00\u662f\u653f\u5e9c\u4eab\u6709\u7684\u8cc7\u91d1\u6216\u8cc7\u6e90\uff0c\u901a\u904e\u4e3b\u6b0a\u57fa\u91d1\u4f86\u7ba1\u7406\uff0c\u4e0d\u60f3\u6216\u4e0d\u5408\u9069\u8f49\u79fb\u81f3\u5e02\u5834\u3002\u4e8c\u662f\u901a\u904e\u57fa\u91d1\u9f90\u5927\u7684\u898f\u6a21\uff0c\u53ef\u7bc0\u7d04\u6295\u8cc7\u6210\u672c\u6216\u63d0\u9ad8\u56de\u5831\u7387\u3002\u4e09\u662f\u6295\u8cc7\u5728\u5e02\u5834\u4e0d\u6703\u8003\u616e\u4f46\u5c0d\u793e\u6703\u6709\u50f9\u503c\u7684\u65b9\u9762\uff0c\u5373\u500b\u4eba\u56de\u5831\u4f4e\u65bc\u793e\u6703\u56de\u5831\uff0c\u5c6c\u5e02\u5834\u5931\u9748\u3002\u5e02\u5834\u4e0d\u6295\u8cc7\uff0c\u4f46\u4e3b\u6b0a\u57fa\u91d1\u53ef\u4ee5\u8003\u616e\u6295\u8cc7\u3002\u9019\u662f\u4e00\u4e9b\u8ad6\u8005\u8d0a\u6210\u7f8e\u570b\u6210\u7acb\u4e3b\u6b0a\u57fa\u91d1\u7684\u539f\u56e0\uff0c\u4ed6\u5011\u8a8d\u70ba\u7f8e\u570b\u6c92\u6709\u6297\u8861\u4e2d\u570b\u4e00\u5e36\u4e00\u8def\u5728\u5916\u570b\u6295\u8cc7\u57fa\u5efa\u7684\u6a5f\u5236\uff0c\u56e0\u800c\u964d\u4f4e\u4e86\u7f8e\u570b\u7684\u570b\u969b\u5f71\u97ff\u529b\u3002\u76ee\u524d\u7f8e\u570b\u653f\u5e9c\u7684\u6709\u95dc\u90e8\u9580\u662f\u7f8e\u570b\u570b\u969b\u958b\u767c\u91d1\u878d\u516c\u53f8<span>(U.S. International Development Finance Corporation) <\/span>\uff0c\u4f46\u53d7\u5230\u73fe\u6709\u8ca1\u653f\u898f\u5247\u7684\u9650\u5236\uff0c\u8f03\u96e3\u4ee5\u63d0\u9ad8\u7f8e\u570b\u7684\u570b\u969b\u5f71\u97ff\u529b\u4f5c\u70ba\u6295\u8cc7\u6c7a\u7b56\u7684\u6a19\u6e96\u3002\u65b0\u6210\u7acb\u7684\u4e3b\u6b0a\u57fa\u91d1\uff0c \u6216\u53ef\u64fa\u812b\u6709\u95dc\u7684\u7d04\u675f\u3002<\/p>\n<p>\u9664\u4e86\u8f03\u5c11\u7d04\u675f\u5730\u5728\u570b\u969b\u5e02\u5834\u548c\u4e2d\u570b\u6297\u8861\uff0c\u7279\u6717\u666e\u6210\u7acb\u4e3b\u6b0a\u57fa\u91d1\uff0c\u53ef\u4ee5\u8aaa\u662f\u53e6\u8d77\u7210\u7076\uff0c\u65b9\u4fbf\u4ed6\u5728\u8ca1\u653f\u4e0a\u64fa\u812b\u4e00\u4e9b\u5236\u8098\uff0c\u6e1b\u5c11\u570b\u6703\u7684\u5e72\u9810\uff0c\u540c\u6642\u4e5f\u6e1b\u5c11\u4e86\u589e\u52a0\u7f8e\u570b\u8ca1\u653f\u8d64\u5b57\u7684\u6307\u8cac\u3002\u6b64\u5916\uff0c\u4e5f\u907f\u514d\u4e86\u76ee\u524d\u5e38\u51fa\u73fe\u7684\uff0c\u5728\u63a5\u8fd1\u806f\u90a6\u653f\u5e9c\u50b5\u52d9\u4e0a\u9650\u6642\u8981\u9762\u5c0d\u5171\u548c\u6c11\u4e3b\u5169\u9ee8\u722d\u6301\u7684\u4e0d\u78ba\u5b9a\u6027\u3002\u6709\u95dc\u4e3b\u6b0a\u57fa\u91d1\u6700\u7d42\u6210\u7acb\u6642\u7684\u6cd5\u4f8b\uff0c\u570b\u6703\u5927\u6982\u6c92\u4ec0\u9ebc\u8a98\u56e0\u4e3b\u52d5\u514d\u53bb\u81ea\u8eab\u7684\u76e3\u7ba1\u6b0a\u529b\uff0c \u4f46\u7576\u524d\u7279\u6717\u666e\u5f37\u52e2\u9818\u5c0e\u53ca\u5171\u548c\u9ee8\u63a7\u5236\u5169\u9662\uff0c\u7d50\u679c\u4ecd\u6703\u6709\u5229\u65bc\u7279\u6717\u666e\u672a\u4f86\u6578\u5e74\u7684\u57f7\u653f\u3002<\/p>\n<p>\u884c\u653f\u547d\u4ee4\u6c92\u6709\u63d0\u53ca\u8a08\u5283\u4e2d\u7684\u7f8e\u570b\u4e3b\u6b0a\u57fa\u91d1\u898f\u6a21\u591a\u5927\uff0c\u4f46\u597d\u4e9b\u8a55\u8ad6\u90fd\u63d0\u53ca\u5230\u4e8c\u842c\u5104\u5143<span>(<\/span>\u7f8e\u5143\uff0c\u4e0b\u540c<span>)<\/span>\u7684\u6578\u5b57\u3002\u76ee\u524d\u5168\u7403\u6700\u5927\u7684\u4e09\u500b\u4e3b\u6b0a\u57fa\u91d1\uff0c\u5206\u5225\u662f\u632a\u5a01\u653f\u5e9c\u5168\u7403\u9000\u4f11\u57fa\u91d1<span>(1.74<\/span>\u842c\u5104\u5143<span>)<\/span>\u3001\u4e2d\u570b\u6295\u8cc7\u516c\u53f8<span>(1.33<\/span>\u842c\u5104\u5143<span>)<\/span>\u548c\u4e2d\u570b\u7684\u570b\u5bb6\u5916\u532f\u7ba1\u7406\u5c40\u6295\u8cc7\u516c\u53f8<span>(1.09<\/span>\u842c\u5104\u5143<span>)<\/span>\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u4e8c\u842c\u5104\u5143\u662f\u500b\u4e0d\u5c11\u7684\u6578\u76ee\uff0c\u9019\u9f90\u5927\u7684\u8cc7\u91d1\u5f9e\u4f55\u800c\u4f86\uff1f\u7279\u6717\u666e\u5728\u88ab\u8ffd\u554f\u6642\uff0c\u8aaa\u4f86\u81ea\u95dc\u7a05\u6536\u5165\u53ca\u5176\u4ed6\u8070\u660e\u7684\u65b9\u6cd5<span>(from tariffs and other intelligent things)<\/span>\u3002\u4ec0\u9ebc\u8070\u660e\u65b9\u6cd5\uff0c\u5927\u62b5\u8981\u65e5\u5f8c\u624d\u63ed\u66c9\u3002 \u4f46\u4ee5\u95dc\u7a05\u6536\u5165\u4f5c\u70ba\u4e3b\u6b0a\u57fa\u91d1\u7684\u4e3b\u8981\u8cc7\u91d1\u4f86\u6e90\uff0c\u5247\u66e0\u65e5\u6301\u4e45\u3002<span>2024<\/span>\u5e74\u7f8e\u570b\u806f\u90a6\u653f\u5e9c\u7684\u8ca1\u653f\u6536\u5165\u70ba<span>4.92<\/span>\u842c\u5104\u5143\uff0c\u5176\u4e2d\u95dc\u7a05\u7d04\u4f54<span>800<\/span>\u5104\u5143\u3002 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are going to monetize the asset side of the US balance sheet)<\/span>\u3002\u767d\u5bae\u5728\u6709\u95dc\u5834\u5408\u63d0\u4f9b\u7684\u8cc7\u6599\u8aaa\u660e\u4e0a\uff0c\u6307\u51fa\u7f8e\u570b\u653f\u5e9c\u76f4\u63a5\u6301\u6709<span>5.7<\/span>\u842c\u5104\u5143\u8cc7\u7522\u3002 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<\/span>22\u5143\u7684\u50f9\u4f4d\u3002\u5982\u4eca\u9ec3\u91d1\u50f9\u683c\u5df2\u903c\u8fd13000\u5143\uff0c\u82e5\u5c07\u7f8e\u570b\u653f\u5e9c\u7684\u9ec3\u91d1\u5132\u5099\u6309\u5e02\u503c\u8a08\u7b97\uff0c\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u7684\u8cc7\u7522\u96a8\u5373\u589e\u52a0\u4e867737\u5104\u5143\u3002\u9019\u6216\u8a31\u662f\u8c9d\u68ee\u7279\u6240\u6307\u7684\u5c07\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u7684\u8cc7\u7522\u8ca8\u5e63\u5316\uff0c\u4f5c\u70ba\u4e3b\u6b0a\u57fa\u91d1\u7684\u8cc7\u91d1\u4f86\u6e90\u3002<\/p>\n<p>\u7f8e\u570b\u7684\u9ec3\u91d1\u5132\u5099\u50f9\u503c\u91cd\u4f30\uff0c\u662f\u7f8e\u570b\u53ef\u4ee5\u52d5\u7528\u7684\u4e00\u7b46\u7121\u6210\u672c\u8cc7\u91d1\uff0c\u53ef\u4ee5\u6ce8\u5165\u4e3b\u6b0a\u57fa\u91d1\uff0c\u4e5f\u53ef\u4ee5\u4f5c\u5176\u4ed6\u7528\u9014\u3002\u5982\u88ab\u63d0\u540d\u7576\u767d\u5bae\u7d93\u6fdf\u9867\u554f\u7684\u53f2\u63d0\u82ac\u7c73\u862d<span>(Stephen Miran)<\/span>\uff0c\u5c31\u66fe\u8aaa\u904e\u5c07\u9ec3\u91d1\u8ce3\u6389\u8cb7\u5165\u5176\u4ed6\u8ca8\u5e63\uff0c \u4f86\u9054\u5230\u7f8e\u5143\u8cb6\u503c\u7684\u76ee\u7684\uff0c\u672a\u77e5\u9019\u662f\u6709\u591a\u56b4\u8085\u7684\u5efa\u8b70\u3002\u7121\u8ad6\u5982\u4f55\uff0c\u904e\u53bb\u6578\u5e74\u4e0d\u5c11\u592e\u884c\u90fd\u5927\u91cf\u8cb7\u5165\u9ec3\u91d1\uff0c\u7f8e\u570b\u653f\u5e9c\u5c0d\u5176\u9ec3\u91d1\u5132\u5099\u7684\u64cd\u4f5c\uff0c\u90fd\u6703\u5c0e\u81f4\u9ec3\u91d1\u91cd\u5165\u8ca8\u5e63\u5236\u5ea6 \u7684\u601d\u8003\u3002<\/p>\n<p><strong>\u9678\u708e\u8f1d\u535a\u58eb<\/strong><br 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\u81f3\u65bc\u8a2d\u7acb\u4e3b\u6b0a\u57fa\u91d1\u7684\u76ee\u7684\uff0c\u4e3b\u8981\u662f\u5c07\u8cc7\u91d1\u7528\u65bc\u570b\u5bb6\u767c\u5c55\u76ee\u6a19\u3001\u6216\u7528\u4ee5\u7a69\u5b9a\u653f\u5e9c\u8ca1\u653f\u3001\u53c8\u6216\u63d0\u9ad8\u7ba1\u7406\u570b\u5bb6\u8cc7\u7522\u7684\u6548\u7387\u3002\u5982\u6c99\u7279\u963f\u62c9\u4f2f\u8981\u63d0\u9ad8\u5728\u570b\u969b\u9ad4\u80b2\u4e8b\u696d\u4e0a\u7684\u77e5\u540d\u5ea6\uff0c\u4fbf\u901a\u904e\u5176\u540d\u70ba\u300c\u516c\u5171\u6295\u8cc7\u57fa\u91d1\u300d(Public Investment Fund)\u7684\u4e3b\u6b0a\u57fa\u91d1\uff0c\u6536\u8cfc\u4e86\u4e00\u4e9b\u8db3\u7403\u7403\u6703\uff0c\u9ad8\u85aa\u7db2\u7f85\u4e86\u5982C\u6717\u62ff\u5ea6\u7b49\u77e5\u540d\u7403\u54e1\uff0c \u4e26\u8d0a\u52a9\u6578\u6708\u524d\u570b\u969b\u5973\u5b50\u7db2\u7403\u5354\u6703(WTA)\u5e74\u7d42\u7e3d\u6c7a\u8cfd\u7b49\u9805\u76ee\u3002\u9019\u662f\u6bd4\u8f03\u8f15\u9b06\u7684\u4f8b\u5b50\u3002\u4e00\u822c\u7684\u4e3b\u6b0a\u57fa\u91d1\uff0c\u591a\u7528\u65bc\u8f03\u70ba\u67af\u71e5\u7684\u57fa\u790e\u5efa\u8a2d\u3001\u7522\u696d\u653f\u7b56\u3001\u91d1\u878d\u6295\u8cc7\u7b49\u3002 \u7279\u6717\u666e\u7c3d\u7f72\u6210\u7acb\u4e3b\u6b0a\u57fa\u91d1\u7684\u884c\u653f\u547d\u4ee4\u4e0a\uff0c\u8aaa\u6210\u7acb\u57fa\u91d1\u662f\u8981\u63d0\u9ad8\u8ca1\u653f\u6301\u7e8c\u6027\u3001\u6e1b\u8f15\u7f8e\u570b\u5bb6\u5ead\u548c\u5c0f\u578b\u4f01\u696d\u7684\u7a05\u52d9\u8ca0\u64d4\u3001\u53ca\u63a8\u52d5\u7f8e\u570b\u5728\u570b\u969b\u4e0a\u7684\u7d93\u6fdf\u548c\u6230\u7565\u9818\u5c0e\u5730\u4f4d\u3002\u9019\u90fd\u662f\u7c60\u7d71\u7684\u8aaa\u6cd5\uff0c\u8a73\u7d30\u5167\u5bb9\u5927\u6982\u8981\u7b4990\u5929\u5167\u51fa\u7c60\u7684\u65b9\u6848\u624d\u6709\u4ea4\u4ee3\u3002\u7136\u800c\uff0c\u4e3b\u6b0a\u57fa\u91d1\u5982\u4f55\u63d0\u9ad8\u7f8e\u570b\u653f\u5e9c\u7684\u8ca1\u653f\u80fd\u529b\uff0c\u5e36\u4f86\u8ca1\u653f\u6301\u7e8c\u6027\u548c\u6e1b\u8f15\u7a05\u52d9\uff0c\u503c\u5f97\u53c3\u8a73\u3002\u9019\u88cf\u7c21\u55ae\u5730\u5206\u5169\u7a2e\u53ef\u80fd\uff0c\u4e00\u662f\u5728\u57fa\u91d1\u6210\u7acb\u6642\uff0c\u653f\u5e9c\u540c\u6642\u6709\u65b0\u7684\u8cc7\u91d1\u6ce8\u5165\u57fa\u91d1\uff0c\u6bcb\u9700\u6539\u8b8a\u5df2\u6709\u7684\u8ca1\u653f\u5b89\u6392\u3002\u9019\u7576\u7136\u4f7f\u653f\u5e9c\u8ca1\u653f\u66f4\u52a0\u5145\u5be6\uff0c\u4f46\u9019\u4e9b\u65b0\u8cc7\u91d1\u61c9\u5426\u7528\u4f86\u6210\u7acb\u4e3b\u6b0a\u57fa\u91d1\uff0c\u9084\u662f\u6709\u66f4\u597d\u7528\u9014\uff0c\u5982\u6e1b\u8f15\u7576\u524d\u653f\u5e9c\u7684\u50b5\u52d9\u548c\u5c07\u4f86\u7684\u5229\u606f\u958b\u652f\u3002\u53e6\u4e00\u7a2e\u53ef\u80fd\u662f\u653f\u5e9c\u6c92\u6709\u65b0\u8cc7\u91d1\u6ce8\u5165\u4e3b\u6b0a\u57fa\u91d1\uff0c\u9700\u8981\u901a\u904e\u7a05\u6536\u6216\u501f\u8cb8\u5f9e\u5e02\u5834\u53d6\u5f97\u8cc7\u91d1\u4f86\u6295\u8cc7\u3002\u5982\u679c\u653f\u5e9c\u6295\u8cc7\u7684\u56de\u5831\u7387\u548c\u5e02\u5834\u76f8\u7d04\uff0c\u5012\u4e0d\u5982\u5c07\u8cc7\u91d1\u7559\u5728\u5e02\u5834\uff0c\u7121\u9700\u591a\u6b64\u4e00\u8209\uff0c\u907f\u514d\u6392\u64e0\u6548\u61c9\u3002 \u7121\u8ad6\u54ea\u7a2e\u60c5\u6cc1\uff0c\u4e3b\u6b0a\u57fa\u91d1\u53ef\u80fd\u8d77\u5230\u7684\u7d93\u6fdf\u6548\u679c\uff0c\u4e00\u662f\u653f\u5e9c\u4eab\u6709\u7684\u8cc7\u91d1\u6216\u8cc7\u6e90\uff0c\u901a\u904e\u4e3b\u6b0a\u57fa\u91d1\u4f86\u7ba1\u7406\uff0c\u4e0d\u60f3\u6216\u4e0d\u5408\u9069\u8f49\u79fb\u81f3\u5e02\u5834\u3002\u4e8c\u662f\u901a\u904e\u57fa\u91d1\u9f90\u5927\u7684\u898f\u6a21\uff0c\u53ef\u7bc0\u7d04\u6295\u8cc7\u6210\u672c\u6216\u63d0\u9ad8\u56de\u5831\u7387\u3002\u4e09\u662f\u6295\u8cc7\u5728\u5e02\u5834\u4e0d\u6703\u8003\u616e\u4f46\u5c0d\u793e\u6703\u6709\u50f9\u503c\u7684\u65b9\u9762\uff0c\u5373\u500b\u4eba\u56de\u5831\u4f4e\u65bc\u793e\u6703\u56de\u5831\uff0c\u5c6c\u5e02\u5834\u5931\u9748\u3002\u5e02\u5834\u4e0d\u6295\u8cc7\uff0c\u4f46\u4e3b\u6b0a\u57fa\u91d1\u53ef\u4ee5\u8003\u616e\u6295\u8cc7\u3002\u9019\u662f\u4e00\u4e9b\u8ad6\u8005\u8d0a\u6210\u7f8e\u570b\u6210\u7acb\u4e3b\u6b0a\u57fa\u91d1\u7684\u539f\u56e0\uff0c\u4ed6\u5011\u8a8d\u70ba\u7f8e\u570b\u6c92\u6709\u6297\u8861\u4e2d\u570b\u4e00\u5e36\u4e00\u8def\u5728\u5916\u570b\u6295\u8cc7\u57fa\u5efa\u7684\u6a5f\u5236\uff0c\u56e0\u800c\u964d\u4f4e\u4e86\u7f8e\u570b\u7684\u570b\u969b\u5f71\u97ff\u529b\u3002\u76ee\u524d\u7f8e\u570b\u653f\u5e9c\u7684\u6709\u95dc\u90e8\u9580\u662f\u7f8e\u570b\u570b\u969b\u958b\u767c\u91d1\u878d\u516c\u53f8(U.S. International Development Finance Corporation) \uff0c\u4f46\u53d7\u5230\u73fe\u6709\u8ca1\u653f\u898f\u5247\u7684\u9650\u5236\uff0c\u8f03\u96e3\u4ee5\u63d0\u9ad8\u7f8e\u570b\u7684\u570b\u969b\u5f71\u97ff\u529b\u4f5c\u70ba\u6295\u8cc7\u6c7a\u7b56\u7684\u6a19\u6e96\u3002\u65b0\u6210\u7acb\u7684\u4e3b\u6b0a\u57fa\u91d1\uff0c \u6216\u53ef\u64fa\u812b\u6709\u95dc\u7684\u7d04\u675f\u3002 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\u884c\u653f\u547d\u4ee4\u6c92\u6709\u63d0\u53ca\u8a08\u5283\u4e2d\u7684\u7f8e\u570b\u4e3b\u6b0a\u57fa\u91d1\u898f\u6a21\u591a\u5927\uff0c\u4f46\u597d\u4e9b\u8a55\u8ad6\u90fd\u63d0\u53ca\u5230\u4e8c\u842c\u5104\u5143(\u7f8e\u5143\uff0c\u4e0b\u540c)\u7684\u6578\u5b57\u3002\u76ee\u524d\u5168\u7403\u6700\u5927\u7684\u4e09\u500b\u4e3b\u6b0a\u57fa\u91d1\uff0c\u5206\u5225\u662f\u632a\u5a01\u653f\u5e9c\u5168\u7403\u9000\u4f11\u57fa\u91d1(1.74\u842c\u5104\u5143)\u3001\u4e2d\u570b\u6295\u8cc7\u516c\u53f8(1.33\u842c\u5104\u5143)\u548c\u4e2d\u570b\u7684\u570b\u5bb6\u5916\u532f\u7ba1\u7406\u5c40\u6295\u8cc7\u516c\u53f8(1.09\u842c\u5104\u5143)\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u4e8c\u842c\u5104\u5143\u662f\u500b\u4e0d\u5c11\u7684\u6578\u76ee\uff0c\u9019\u9f90\u5927\u7684\u8cc7\u91d1\u5f9e\u4f55\u800c\u4f86\uff1f\u7279\u6717\u666e\u5728\u88ab\u8ffd\u554f\u6642\uff0c\u8aaa\u4f86\u81ea\u95dc\u7a05\u6536\u5165\u53ca\u5176\u4ed6\u8070\u660e\u7684\u65b9\u6cd5(from tariffs and other intelligent things)\u3002\u4ec0\u9ebc\u8070\u660e\u65b9\u6cd5\uff0c\u5927\u62b5\u8981\u65e5\u5f8c\u624d\u63ed\u66c9\u3002 \u4f46\u4ee5\u95dc\u7a05\u6536\u5165\u4f5c\u70ba\u4e3b\u6b0a\u57fa\u91d1\u7684\u4e3b\u8981\u8cc7\u91d1\u4f86\u6e90\uff0c\u5247\u66e0\u65e5\u6301\u4e45\u30022024\u5e74\u7f8e\u570b\u806f\u90a6\u653f\u5e9c\u7684\u8ca1\u653f\u6536\u5165\u70ba4.92\u842c\u5104\u5143\uff0c\u5176\u4e2d\u95dc\u7a05\u7d04\u4f54800\u5104\u5143\u3002 \u7279\u6717\u666e\u5728\u7af6\u9078\u6642\u8a87\u8a87\u5176\u8ac7\u5927\u52a0\u95dc\u7a05\uff0c\u4f46\u548c\u4ed6\u5176\u4ed6\u653f\u7b56\u76f8\u6bd4\uff0c\u5230\u76ee\u524d\u4ecd\u7136\u662f\u96f7\u8072\u5927\u96e8\u9ede\u5c0f\u3002\u5373\u4f7f\u95dc\u7a05\u6536\u5165\u589e\u52a0\u81f3\u53bb\u5e74\u76845\u500d\u4e5f\u53ea\u7d044000\u5104\u5143\uff0c\u4f46\u9019\u6216\u8a31\u5df2\u5e36\u4f86\u4e00\u5b9a\u7684\u901a\u8139\u548c\u8870\u9000\u4e86\u3002\u82e5\u589e\u52a0\u5176\u4ed6\u7a05\u7387\uff0c\u5247\u9055\u53cd\u4e86\u4ed6\u6e1b\u7a05\u7684\u7af6\u9078\u627f\u8afe\u548c\u5171\u548c\u9ee8\u7684\u7d93\u6fdf\u601d\u7dad\u3002\u81f3\u65bc\u767c\u50b5\uff0c\u4e5f\u4e0d\u662f\u7406\u60f3\u7684\u878d\u8cc7\u65b9\u5f0f\uff0c\u4e00\u4f86\u7f8e\u570b\u653f\u5e9c\u5df2\u6b20\u4e0b36\u842c\u5104\u5143\u50b5\u52d9\uff0c\u5168\u7403\u91d1\u878d\u5e02\u5834\u5df2\u5bc6\u5207\u95dc\u6ce8\uff0c\u4e8c\u4f86\u767c\u50b5\u7684\u5229\u606f\u6210\u672c\u8d8a\u4f86\u8d8a\u9ad8\uff0c\u6536\u7a84\u4e86\u7f8e\u570b\u653f\u5e9c\u5c07\u4f86\u7684\u8ca1\u653f\u7a7a\u9593\u3002 \u5012\u662f\u8ca1\u653f\u90e8\u9577\u8c9d\u68ee\u7279\u8aaa\u5f97\u6bd4\u8f03\u6e05\u695a\uff0c\u6307\u51fa\u6703\u5c07\u7f8e\u570b\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u7684\u8cc7\u7522\u8ca8\u5e63\u5316(we are going to monetize the asset side of the US balance sheet)\u3002\u767d\u5bae\u5728\u6709\u95dc\u5834\u5408\u63d0\u4f9b\u7684\u8cc7\u6599\u8aaa\u660e\u4e0a\uff0c\u6307\u51fa\u7f8e\u570b\u653f\u5e9c\u76f4\u63a5\u6301\u67095.7\u842c\u5104\u5143\u8cc7\u7522\u3002 \u4e0d\u904e\u4e5f\u6709\u8ad6\u8005\u6307\u51fa\uff0c\u5176\u4e2d\u6709\u6d41\u52d5\u6027\u7684\uff0c\u53ea\u67091.2\u842c\u5104\u5143\u7684\u73fe\u91d1\u548c\u9ec3\u91d1\u3002 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22\u5143\u7684\u50f9\u4f4d\u3002\u5982\u4eca\u9ec3\u91d1\u50f9\u683c\u5df2\u903c\u8fd13000\u5143\uff0c\u82e5\u5c07\u7f8e\u570b\u653f\u5e9c\u7684\u9ec3\u91d1\u5132\u5099\u6309\u5e02\u503c\u8a08\u7b97\uff0c\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u7684\u8cc7\u7522\u96a8\u5373\u589e\u52a0\u4e867737\u5104\u5143\u3002\u9019\u6216\u8a31\u662f\u8c9d\u68ee\u7279\u6240\u6307\u7684\u5c07\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u7684\u8cc7\u7522\u8ca8\u5e63\u5316\uff0c\u4f5c\u70ba\u4e3b\u6b0a\u57fa\u91d1\u7684\u8cc7\u91d1\u4f86\u6e90\u3002 \u7f8e\u570b\u7684\u9ec3\u91d1\u5132\u5099\u50f9\u503c\u91cd\u4f30\uff0c\u662f\u7f8e\u570b\u53ef\u4ee5\u52d5\u7528\u7684\u4e00\u7b46\u7121\u6210\u672c\u8cc7\u91d1\uff0c\u53ef\u4ee5\u6ce8\u5165\u4e3b\u6b0a\u57fa\u91d1\uff0c\u4e5f\u53ef\u4ee5\u4f5c\u5176\u4ed6\u7528\u9014\u3002\u5982\u88ab\u63d0\u540d\u7576\u767d\u5bae\u7d93\u6fdf\u9867\u554f\u7684\u53f2\u63d0\u82ac\u7c73\u862d(Stephen Miran)\uff0c\u5c31\u66fe\u8aaa\u904e\u5c07\u9ec3\u91d1\u8ce3\u6389\u8cb7\u5165\u5176\u4ed6\u8ca8\u5e63\uff0c \u4f86\u9054\u5230\u7f8e\u5143\u8cb6\u503c\u7684\u76ee\u7684\uff0c\u672a\u77e5\u9019\u662f\u6709\u591a\u56b4\u8085\u7684\u5efa\u8b70\u3002\u7121\u8ad6\u5982\u4f55\uff0c\u904e\u53bb\u6578\u5e74\u4e0d\u5c11\u592e\u884c\u90fd\u5927\u91cf\u8cb7\u5165\u9ec3\u91d1\uff0c\u7f8e\u570b\u653f\u5e9c\u5c0d\u5176\u9ec3\u91d1\u5132\u5099\u7684\u64cd\u4f5c\uff0c\u90fd\u6703\u5c0e\u81f4\u9ec3\u91d1\u91cd\u5165\u8ca8\u5e63\u5236\u5ea6 \u7684\u601d\u8003\u3002 \u9678\u708e\u8f1d\u535a\u58eb \u6e2f\u5927\u7d93\u7ba1\u5b78\u9662\u69ae\u8b7d\u526f\u6559\u6388 \uff08\u672c\u6587\u540c\u6642\u65bc\u4e8c\u96f6\u4e8c\u4e94\u5e74\u4e8c\u6708\u4e8c\u5341\u516d\u65e5\u8f09\u65bc\u300a\u4fe1\u5831\u300b\u300c\u9f8d\u864e\u5c71\u4e0b\u300d\u5c08\u6b04\uff09\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"google-site-verification\" 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content=\"\u7279\u6717\u666e\u4e8c\u5ea6\u4e0a\u53f0\u5f8c\uff0c\u5404\u7a2e\u653f\u7b56\u8fc5\u901f\u767b\u5834\uff0c\u57f7\u884c\u6642\u5927\u5200\u95ca\u65a7\u3001\u96f7\u53b2\u98a8\u884c\u3002\u624d\u4e00\u500b\u591a\u6708\uff0c\u6539\u8b8a\u6bd4\u4efb\u4f55\u65b0\u4e0a\u4efb\u7684\u570b\u5bb6\u5143\u9996\u6240\u505a\u7684\u70ba\u591a\uff0c\u4ee4\u4eba\u76ee\u4e0d\u6687\u7d66\u3002\u5728\u570b\u5167\u4e8b\u52d9\u65b9\u9762\uff0c\u5927\u91cf\u9a45\u9010\u5883\u5167\u7684\u975e\u6cd5\u79fb\u6c11\u548c\u88c1\u6e1b\u806f\u90a6\u653f\u5e9c\u90e8\u9580\u548c\u50f1\u54e1\uff0c 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fund)\uff0c\u4e26\u8cac\u6210\u8ca1\u653f\u90e8\u9577\u548c\u5546\u52d9\u90e8\u9577\u572890\u5929\u5167\u63d0\u4ea4\u6709\u95dc\u65b9\u6848\uff0c\u5305\u62ec\u8cc7\u91d1\u7c4c\u96c6\u6a5f\u5236\u3001\u6295\u8cc7\u7b56\u7565\u548c\u7ba1\u6cbb\u6a21\u5f0f\u7b49\u3002\u8ca1\u653f\u90e8\u9577\u8c9d\u68ee\u7279\u7a4d\u6975\u56de\u61c9\uff0c\u8a8d\u70ba\u53ef\u572812\u500b\u6708\u5167\u505a\u597d\u6e96\u5099\u53ca\u958b\u59cb\u904b\u4f5c\u3002 \u7c21\u55ae\u800c\u8a00\uff0c\u4e3b\u6b0a\u57fa\u91d1\u662f\u570b\u5bb6\u6216\u653f\u5e9c\u64c1\u6709\u53ca\u7ba1\u7406\u3001\u6295\u8cc7\u65bc\u570b\u5167\u53ca\u570b\u5916\u7684\u8cc7\u7522\u3002\u8cc7\u91d1\u4e00\u822c\u4f86\u81ea\u51fa\u552e\u77f3\u6cb9\u548c\u7926\u7522\u7b49\u5929\u7136\u8cc7\u6e90\uff0c \u5982\u632a\u5a01\u548c\u6c99\u7279\u963f\u62c9\u4f2f\u7684\u4e3b\u6b0a\u57fa\u91d1\uff0c\u4e5f\u6709\u4f86\u81ea\u591a\u5e74\u7d2f\u7a4d\u7684\u5916\u8cbf\u76c8\u9918\uff0c\u5982\u4e2d\u570b\u548c\u65b0\u52a0\u5761\u7b49\u3002 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\u7121\u8ad6\u54ea\u7a2e\u60c5\u6cc1\uff0c\u4e3b\u6b0a\u57fa\u91d1\u53ef\u80fd\u8d77\u5230\u7684\u7d93\u6fdf\u6548\u679c\uff0c\u4e00\u662f\u653f\u5e9c\u4eab\u6709\u7684\u8cc7\u91d1\u6216\u8cc7\u6e90\uff0c\u901a\u904e\u4e3b\u6b0a\u57fa\u91d1\u4f86\u7ba1\u7406\uff0c\u4e0d\u60f3\u6216\u4e0d\u5408\u9069\u8f49\u79fb\u81f3\u5e02\u5834\u3002\u4e8c\u662f\u901a\u904e\u57fa\u91d1\u9f90\u5927\u7684\u898f\u6a21\uff0c\u53ef\u7bc0\u7d04\u6295\u8cc7\u6210\u672c\u6216\u63d0\u9ad8\u56de\u5831\u7387\u3002\u4e09\u662f\u6295\u8cc7\u5728\u5e02\u5834\u4e0d\u6703\u8003\u616e\u4f46\u5c0d\u793e\u6703\u6709\u50f9\u503c\u7684\u65b9\u9762\uff0c\u5373\u500b\u4eba\u56de\u5831\u4f4e\u65bc\u793e\u6703\u56de\u5831\uff0c\u5c6c\u5e02\u5834\u5931\u9748\u3002\u5e02\u5834\u4e0d\u6295\u8cc7\uff0c\u4f46\u4e3b\u6b0a\u57fa\u91d1\u53ef\u4ee5\u8003\u616e\u6295\u8cc7\u3002\u9019\u662f\u4e00\u4e9b\u8ad6\u8005\u8d0a\u6210\u7f8e\u570b\u6210\u7acb\u4e3b\u6b0a\u57fa\u91d1\u7684\u539f\u56e0\uff0c\u4ed6\u5011\u8a8d\u70ba\u7f8e\u570b\u6c92\u6709\u6297\u8861\u4e2d\u570b\u4e00\u5e36\u4e00\u8def\u5728\u5916\u570b\u6295\u8cc7\u57fa\u5efa\u7684\u6a5f\u5236\uff0c\u56e0\u800c\u964d\u4f4e\u4e86\u7f8e\u570b\u7684\u570b\u969b\u5f71\u97ff\u529b\u3002\u76ee\u524d\u7f8e\u570b\u653f\u5e9c\u7684\u6709\u95dc\u90e8\u9580\u662f\u7f8e\u570b\u570b\u969b\u958b\u767c\u91d1\u878d\u516c\u53f8(U.S. International Development Finance Corporation) \uff0c\u4f46\u53d7\u5230\u73fe\u6709\u8ca1\u653f\u898f\u5247\u7684\u9650\u5236\uff0c\u8f03\u96e3\u4ee5\u63d0\u9ad8\u7f8e\u570b\u7684\u570b\u969b\u5f71\u97ff\u529b\u4f5c\u70ba\u6295\u8cc7\u6c7a\u7b56\u7684\u6a19\u6e96\u3002\u65b0\u6210\u7acb\u7684\u4e3b\u6b0a\u57fa\u91d1\uff0c \u6216\u53ef\u64fa\u812b\u6709\u95dc\u7684\u7d04\u675f\u3002 \u9664\u4e86\u8f03\u5c11\u7d04\u675f\u5730\u5728\u570b\u969b\u5e02\u5834\u548c\u4e2d\u570b\u6297\u8861\uff0c\u7279\u6717\u666e\u6210\u7acb\u4e3b\u6b0a\u57fa\u91d1\uff0c\u53ef\u4ee5\u8aaa\u662f\u53e6\u8d77\u7210\u7076\uff0c\u65b9\u4fbf\u4ed6\u5728\u8ca1\u653f\u4e0a\u64fa\u812b\u4e00\u4e9b\u5236\u8098\uff0c\u6e1b\u5c11\u570b\u6703\u7684\u5e72\u9810\uff0c\u540c\u6642\u4e5f\u6e1b\u5c11\u4e86\u589e\u52a0\u7f8e\u570b\u8ca1\u653f\u8d64\u5b57\u7684\u6307\u8cac\u3002\u6b64\u5916\uff0c\u4e5f\u907f\u514d\u4e86\u76ee\u524d\u5e38\u51fa\u73fe\u7684\uff0c\u5728\u63a5\u8fd1\u806f\u90a6\u653f\u5e9c\u50b5\u52d9\u4e0a\u9650\u6642\u8981\u9762\u5c0d\u5171\u548c\u6c11\u4e3b\u5169\u9ee8\u722d\u6301\u7684\u4e0d\u78ba\u5b9a\u6027\u3002\u6709\u95dc\u4e3b\u6b0a\u57fa\u91d1\u6700\u7d42\u6210\u7acb\u6642\u7684\u6cd5\u4f8b\uff0c\u570b\u6703\u5927\u6982\u6c92\u4ec0\u9ebc\u8a98\u56e0\u4e3b\u52d5\u514d\u53bb\u81ea\u8eab\u7684\u76e3\u7ba1\u6b0a\u529b\uff0c \u4f46\u7576\u524d\u7279\u6717\u666e\u5f37\u52e2\u9818\u5c0e\u53ca\u5171\u548c\u9ee8\u63a7\u5236\u5169\u9662\uff0c\u7d50\u679c\u4ecd\u6703\u6709\u5229\u65bc\u7279\u6717\u666e\u672a\u4f86\u6578\u5e74\u7684\u57f7\u653f\u3002 \u884c\u653f\u547d\u4ee4\u6c92\u6709\u63d0\u53ca\u8a08\u5283\u4e2d\u7684\u7f8e\u570b\u4e3b\u6b0a\u57fa\u91d1\u898f\u6a21\u591a\u5927\uff0c\u4f46\u597d\u4e9b\u8a55\u8ad6\u90fd\u63d0\u53ca\u5230\u4e8c\u842c\u5104\u5143(\u7f8e\u5143\uff0c\u4e0b\u540c)\u7684\u6578\u5b57\u3002\u76ee\u524d\u5168\u7403\u6700\u5927\u7684\u4e09\u500b\u4e3b\u6b0a\u57fa\u91d1\uff0c\u5206\u5225\u662f\u632a\u5a01\u653f\u5e9c\u5168\u7403\u9000\u4f11\u57fa\u91d1(1.74\u842c\u5104\u5143)\u3001\u4e2d\u570b\u6295\u8cc7\u516c\u53f8(1.33\u842c\u5104\u5143)\u548c\u4e2d\u570b\u7684\u570b\u5bb6\u5916\u532f\u7ba1\u7406\u5c40\u6295\u8cc7\u516c\u53f8(1.09\u842c\u5104\u5143)\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u4e8c\u842c\u5104\u5143\u662f\u500b\u4e0d\u5c11\u7684\u6578\u76ee\uff0c\u9019\u9f90\u5927\u7684\u8cc7\u91d1\u5f9e\u4f55\u800c\u4f86\uff1f\u7279\u6717\u666e\u5728\u88ab\u8ffd\u554f\u6642\uff0c\u8aaa\u4f86\u81ea\u95dc\u7a05\u6536\u5165\u53ca\u5176\u4ed6\u8070\u660e\u7684\u65b9\u6cd5(from tariffs and other intelligent things)\u3002\u4ec0\u9ebc\u8070\u660e\u65b9\u6cd5\uff0c\u5927\u62b5\u8981\u65e5\u5f8c\u624d\u63ed\u66c9\u3002 \u4f46\u4ee5\u95dc\u7a05\u6536\u5165\u4f5c\u70ba\u4e3b\u6b0a\u57fa\u91d1\u7684\u4e3b\u8981\u8cc7\u91d1\u4f86\u6e90\uff0c\u5247\u66e0\u65e5\u6301\u4e45\u30022024\u5e74\u7f8e\u570b\u806f\u90a6\u653f\u5e9c\u7684\u8ca1\u653f\u6536\u5165\u70ba4.92\u842c\u5104\u5143\uff0c\u5176\u4e2d\u95dc\u7a05\u7d04\u4f54800\u5104\u5143\u3002 \u7279\u6717\u666e\u5728\u7af6\u9078\u6642\u8a87\u8a87\u5176\u8ac7\u5927\u52a0\u95dc\u7a05\uff0c\u4f46\u548c\u4ed6\u5176\u4ed6\u653f\u7b56\u76f8\u6bd4\uff0c\u5230\u76ee\u524d\u4ecd\u7136\u662f\u96f7\u8072\u5927\u96e8\u9ede\u5c0f\u3002\u5373\u4f7f\u95dc\u7a05\u6536\u5165\u589e\u52a0\u81f3\u53bb\u5e74\u76845\u500d\u4e5f\u53ea\u7d044000\u5104\u5143\uff0c\u4f46\u9019\u6216\u8a31\u5df2\u5e36\u4f86\u4e00\u5b9a\u7684\u901a\u8139\u548c\u8870\u9000\u4e86\u3002\u82e5\u589e\u52a0\u5176\u4ed6\u7a05\u7387\uff0c\u5247\u9055\u53cd\u4e86\u4ed6\u6e1b\u7a05\u7684\u7af6\u9078\u627f\u8afe\u548c\u5171\u548c\u9ee8\u7684\u7d93\u6fdf\u601d\u7dad\u3002\u81f3\u65bc\u767c\u50b5\uff0c\u4e5f\u4e0d\u662f\u7406\u60f3\u7684\u878d\u8cc7\u65b9\u5f0f\uff0c\u4e00\u4f86\u7f8e\u570b\u653f\u5e9c\u5df2\u6b20\u4e0b36\u842c\u5104\u5143\u50b5\u52d9\uff0c\u5168\u7403\u91d1\u878d\u5e02\u5834\u5df2\u5bc6\u5207\u95dc\u6ce8\uff0c\u4e8c\u4f86\u767c\u50b5\u7684\u5229\u606f\u6210\u672c\u8d8a\u4f86\u8d8a\u9ad8\uff0c\u6536\u7a84\u4e86\u7f8e\u570b\u653f\u5e9c\u5c07\u4f86\u7684\u8ca1\u653f\u7a7a\u9593\u3002 \u5012\u662f\u8ca1\u653f\u90e8\u9577\u8c9d\u68ee\u7279\u8aaa\u5f97\u6bd4\u8f03\u6e05\u695a\uff0c\u6307\u51fa\u6703\u5c07\u7f8e\u570b\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u7684\u8cc7\u7522\u8ca8\u5e63\u5316(we are going to monetize the asset side of the US balance sheet)\u3002\u767d\u5bae\u5728\u6709\u95dc\u5834\u5408\u63d0\u4f9b\u7684\u8cc7\u6599\u8aaa\u660e\u4e0a\uff0c\u6307\u51fa\u7f8e\u570b\u653f\u5e9c\u76f4\u63a5\u6301\u67095.7\u842c\u5104\u5143\u8cc7\u7522\u3002 \u4e0d\u904e\u4e5f\u6709\u8ad6\u8005\u6307\u51fa\uff0c\u5176\u4e2d\u6709\u6d41\u52d5\u6027\u7684\uff0c\u53ea\u67091.2\u842c\u5104\u5143\u7684\u73fe\u91d1\u548c\u9ec3\u91d1\u3002 \u7f8e\u570b\u653f\u5e9c\u6301\u67092.616\u5104\u91d1\u8861\u76ce\u53f8\u91cd\u91cf\u7684\u9ec3\u91d1\uff0c\u4f46\u5728\u8ca1\u653f\u90e8\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u4ecd\u7136\u662f\u630970\u5e74\u4ee3\u6bcf\u91d1\u8861\u76ce\u53f842.22\u5143\u7684\u50f9\u683c\u5b9a\u50f9\u3002\u5728\u5e03\u96f7\u9813\u68ee\u6797\u5236\u5ea6\u4e0b\uff0c\u9ec3\u91d1\u7684\u50f9\u683c\u539f\u672c\u662f35\u5143\u30021971\u5e748\u6708\u7f8e\u570b\u55ae\u65b9\u9762\u5c07\u7f8e\u5143\u548c\u9ec3\u91d1\u812b\u920e\u5f8c\uff0c\u570b\u969b\u9593\u4ecd\u6709\u5c07\u7f8e\u5143\u514c\u9ec3\u91d1\u8cb6\u503c\u4ee5\u633d\u6551\u5e03\u96f7\u9813\u68ee\u6797\u5236\u5ea6\u7684\u52aa\u529b\uff0c\u4f46\u96a8\u5f8c\u52aa\u529b\u5931\u6557\uff0c\u7f8e\u570b\u7684\u5b98\u65b9\u9ec3\u91d1\u50f9\u683c\u5c31\u4e00\u76f4\u505c\u7559\u572842. 22\u5143\u7684\u50f9\u4f4d\u3002\u5982\u4eca\u9ec3\u91d1\u50f9\u683c\u5df2\u903c\u8fd13000\u5143\uff0c\u82e5\u5c07\u7f8e\u570b\u653f\u5e9c\u7684\u9ec3\u91d1\u5132\u5099\u6309\u5e02\u503c\u8a08\u7b97\uff0c\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u7684\u8cc7\u7522\u96a8\u5373\u589e\u52a0\u4e867737\u5104\u5143\u3002\u9019\u6216\u8a31\u662f\u8c9d\u68ee\u7279\u6240\u6307\u7684\u5c07\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u7684\u8cc7\u7522\u8ca8\u5e63\u5316\uff0c\u4f5c\u70ba\u4e3b\u6b0a\u57fa\u91d1\u7684\u8cc7\u91d1\u4f86\u6e90\u3002 \u7f8e\u570b\u7684\u9ec3\u91d1\u5132\u5099\u50f9\u503c\u91cd\u4f30\uff0c\u662f\u7f8e\u570b\u53ef\u4ee5\u52d5\u7528\u7684\u4e00\u7b46\u7121\u6210\u672c\u8cc7\u91d1\uff0c\u53ef\u4ee5\u6ce8\u5165\u4e3b\u6b0a\u57fa\u91d1\uff0c\u4e5f\u53ef\u4ee5\u4f5c\u5176\u4ed6\u7528\u9014\u3002\u5982\u88ab\u63d0\u540d\u7576\u767d\u5bae\u7d93\u6fdf\u9867\u554f\u7684\u53f2\u63d0\u82ac\u7c73\u862d(Stephen Miran)\uff0c\u5c31\u66fe\u8aaa\u904e\u5c07\u9ec3\u91d1\u8ce3\u6389\u8cb7\u5165\u5176\u4ed6\u8ca8\u5e63\uff0c \u4f86\u9054\u5230\u7f8e\u5143\u8cb6\u503c\u7684\u76ee\u7684\uff0c\u672a\u77e5\u9019\u662f\u6709\u591a\u56b4\u8085\u7684\u5efa\u8b70\u3002\u7121\u8ad6\u5982\u4f55\uff0c\u904e\u53bb\u6578\u5e74\u4e0d\u5c11\u592e\u884c\u90fd\u5927\u91cf\u8cb7\u5165\u9ec3\u91d1\uff0c\u7f8e\u570b\u653f\u5e9c\u5c0d\u5176\u9ec3\u91d1\u5132\u5099\u7684\u64cd\u4f5c\uff0c\u90fd\u6703\u5c0e\u81f4\u9ec3\u91d1\u91cd\u5165\u8ca8\u5e63\u5236\u5ea6 \u7684\u601d\u8003\u3002 \u9678\u708e\u8f1d\u535a\u58eb \u6e2f\u5927\u7d93\u7ba1\u5b78\u9662\u69ae\u8b7d\u526f\u6559\u6388 \uff08\u672c\u6587\u540c\u6642\u65bc\u4e8c\u96f6\u4e8c\u4e94\u5e74\u4e8c\u6708\u4e8c\u5341\u516d\u65e5\u8f09\u65bc\u300a\u4fe1\u5831\u300b\u300c\u9f8d\u864e\u5c71\u4e0b\u300d\u5c08\u6b04\uff09\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/will-trump-revalue-gold-reserves-to-launch-a-sovereign-wealth-fund\/\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2025-02-26T10:13:59+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2025-02-26T10:37:52+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n\t\t<meta name=\"twitter:title\" content=\"\u7279\u6717\u666e\u6703\u91cd\u4f30\u9ec3\u91d1\u5132\u5099\u4f86\u5553\u52d5\u4e3b\u6b0a\u57fa\u91d1\u55ce\uff1f - HKU Business School\" \/>\n\t\t<meta name=\"twitter:description\" content=\"\u7279\u6717\u666e\u4e8c\u5ea6\u4e0a\u53f0\u5f8c\uff0c\u5404\u7a2e\u653f\u7b56\u8fc5\u901f\u767b\u5834\uff0c\u57f7\u884c\u6642\u5927\u5200\u95ca\u65a7\u3001\u96f7\u53b2\u98a8\u884c\u3002\u624d\u4e00\u500b\u591a\u6708\uff0c\u6539\u8b8a\u6bd4\u4efb\u4f55\u65b0\u4e0a\u4efb\u7684\u570b\u5bb6\u5143\u9996\u6240\u505a\u7684\u70ba\u591a\uff0c\u4ee4\u4eba\u76ee\u4e0d\u6687\u7d66\u3002\u5728\u570b\u5167\u4e8b\u52d9\u65b9\u9762\uff0c\u5927\u91cf\u9a45\u9010\u5883\u5167\u7684\u975e\u6cd5\u79fb\u6c11\u548c\u88c1\u6e1b\u806f\u90a6\u653f\u5e9c\u90e8\u9580\u548c\u50f1\u54e1\uff0c \u5305\u62ec\u4e00\u591c\u9593\u95dc\u9589\u4e86\u7f8e\u570b\u570b\u969b\u958b\u767c\u7f72(USAID)\u3002\u5728\u570b\u969b\u4e8b\u52d9\u65b9\u9762\u66f4\u70ba\u300c\u9769\u547d\u6027\u300d\uff0c\u548c\u4fc4\u7f85\u65af\u51b0\u91cb\u524d\u5acc\u7684\u540c\u6642\uff0c\u5c0d\u4f5c\u70ba\u591a\u5e74\u76df\u53cb\u7684\u6b50\u6d32\u4f86\u500b\u8b8a\u81c9\uff0c\u5fb9\u5e95\u5730\u985b\u8986\u4e8680\u5e74\u4f86\u7684\u570b\u969b\u79e9\u5e8f\u3002 \u5728\u773e\u591a\u653f\u7b56\u8b8a\u5316\u4e4b\u4e2d\uff0c\u4e00\u9805\u8f03\u5c11\u53d7\u5230\u6ce8\u610f\u7684\uff0c\u662f\u7279\u6717\u666e\u57282\u67083\u65e5\u6240\u7c3d\u7684\u4e00\u9805\u884c\u653f\u547d\u4ee4\uff0c\u6210\u7acb\u7f8e\u570b\u4e3b\u6b0a\u57fa\u91d1(sovereign wealth 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International Development Finance Corporation) \uff0c\u4f46\u53d7\u5230\u73fe\u6709\u8ca1\u653f\u898f\u5247\u7684\u9650\u5236\uff0c\u8f03\u96e3\u4ee5\u63d0\u9ad8\u7f8e\u570b\u7684\u570b\u969b\u5f71\u97ff\u529b\u4f5c\u70ba\u6295\u8cc7\u6c7a\u7b56\u7684\u6a19\u6e96\u3002\u65b0\u6210\u7acb\u7684\u4e3b\u6b0a\u57fa\u91d1\uff0c \u6216\u53ef\u64fa\u812b\u6709\u95dc\u7684\u7d04\u675f\u3002 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International Development Finance Corporation) \\uff0c\\u4f46\\u53d7\\u5230\\u73fe\\u6709\\u8ca1\\u653f\\u898f\\u5247\\u7684\\u9650\\u5236\\uff0c\\u8f03\\u96e3\\u4ee5\\u63d0\\u9ad8\\u7f8e\\u570b\\u7684\\u570b\\u969b\\u5f71\\u97ff\\u529b\\u4f5c\\u70ba\\u6295\\u8cc7\\u6c7a\\u7b56\\u7684\\u6a19\\u6e96\\u3002\\u65b0\\u6210\\u7acb\\u7684\\u4e3b\\u6b0a\\u57fa\\u91d1\\uff0c \\u6216\\u53ef\\u64fa\\u812b\\u6709\\u95dc\\u7684\\u7d04\\u675f\\u3002 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things)\u3002\u4ec0\u9ebc\u8070\u660e\u65b9\u6cd5\uff0c\u5927\u62b5\u8981\u65e5\u5f8c\u624d\u63ed\u66c9\u3002 \u4f46\u4ee5\u95dc\u7a05\u6536\u5165\u4f5c\u70ba\u4e3b\u6b0a\u57fa\u91d1\u7684\u4e3b\u8981\u8cc7\u91d1\u4f86\u6e90\uff0c\u5247\u66e0\u65e5\u6301\u4e45\u30022024\u5e74\u7f8e\u570b\u806f\u90a6\u653f\u5e9c\u7684\u8ca1\u653f\u6536\u5165\u70ba4.92\u842c\u5104\u5143\uff0c\u5176\u4e2d\u95dc\u7a05\u7d04\u4f54800\u5104\u5143\u3002 \u7279\u6717\u666e\u5728\u7af6\u9078\u6642\u8a87\u8a87\u5176\u8ac7\u5927\u52a0\u95dc\u7a05\uff0c\u4f46\u548c\u4ed6\u5176\u4ed6\u653f\u7b56\u76f8\u6bd4\uff0c\u5230\u76ee\u524d\u4ecd\u7136\u662f\u96f7\u8072\u5927\u96e8\u9ede\u5c0f\u3002\u5373\u4f7f\u95dc\u7a05\u6536\u5165\u589e\u52a0\u81f3\u53bb\u5e74\u76845\u500d\u4e5f\u53ea\u7d044000\u5104\u5143\uff0c\u4f46\u9019\u6216\u8a31\u5df2\u5e36\u4f86\u4e00\u5b9a\u7684\u901a\u8139\u548c\u8870\u9000\u4e86\u3002\u82e5\u589e\u52a0\u5176\u4ed6\u7a05\u7387\uff0c\u5247\u9055\u53cd\u4e86\u4ed6\u6e1b\u7a05\u7684\u7af6\u9078\u627f\u8afe\u548c\u5171\u548c\u9ee8\u7684\u7d93\u6fdf\u601d\u7dad\u3002\u81f3\u65bc\u767c\u50b5\uff0c\u4e5f\u4e0d\u662f\u7406\u60f3\u7684\u878d\u8cc7\u65b9\u5f0f\uff0c\u4e00\u4f86\u7f8e\u570b\u653f\u5e9c\u5df2\u6b20\u4e0b36\u842c\u5104\u5143\u50b5\u52d9\uff0c\u5168\u7403\u91d1\u878d\u5e02\u5834\u5df2\u5bc6\u5207\u95dc\u6ce8\uff0c\u4e8c\u4f86\u767c\u50b5\u7684\u5229\u606f\u6210\u672c\u8d8a\u4f86\u8d8a\u9ad8\uff0c\u6536\u7a84\u4e86\u7f8e\u570b\u653f\u5e9c\u5c07\u4f86\u7684\u8ca1\u653f\u7a7a\u9593\u3002 \u5012\u662f\u8ca1\u653f\u90e8\u9577\u8c9d\u68ee\u7279\u8aaa\u5f97\u6bd4\u8f03\u6e05\u695a\uff0c\u6307\u51fa\u6703\u5c07\u7f8e\u570b\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u7684\u8cc7\u7522\u8ca8\u5e63\u5316(we are going to monetize the asset side of the US balance sheet)\u3002\u767d\u5bae\u5728\u6709\u95dc\u5834\u5408\u63d0\u4f9b\u7684\u8cc7\u6599\u8aaa\u660e\u4e0a\uff0c\u6307\u51fa\u7f8e\u570b\u653f\u5e9c\u76f4\u63a5\u6301\u67095.7\u842c\u5104\u5143\u8cc7\u7522\u3002 \u4e0d\u904e\u4e5f\u6709\u8ad6\u8005\u6307\u51fa\uff0c\u5176\u4e2d\u6709\u6d41\u52d5\u6027\u7684\uff0c\u53ea\u67091.2\u842c\u5104\u5143\u7684\u73fe\u91d1\u548c\u9ec3\u91d1\u3002 \u7f8e\u570b\u653f\u5e9c\u6301\u67092.616\u5104\u91d1\u8861\u76ce\u53f8\u91cd\u91cf\u7684\u9ec3\u91d1\uff0c\u4f46\u5728\u8ca1\u653f\u90e8\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u4ecd\u7136\u662f\u630970\u5e74\u4ee3\u6bcf\u91d1\u8861\u76ce\u53f842.22\u5143\u7684\u50f9\u683c\u5b9a\u50f9\u3002\u5728\u5e03\u96f7\u9813\u68ee\u6797\u5236\u5ea6\u4e0b\uff0c\u9ec3\u91d1\u7684\u50f9\u683c\u539f\u672c\u662f35\u5143\u30021971\u5e748\u6708\u7f8e\u570b\u55ae\u65b9\u9762\u5c07\u7f8e\u5143\u548c\u9ec3\u91d1\u812b\u920e\u5f8c\uff0c\u570b\u969b\u9593\u4ecd\u6709\u5c07\u7f8e\u5143\u514c\u9ec3\u91d1\u8cb6\u503c\u4ee5\u633d\u6551\u5e03\u96f7\u9813\u68ee\u6797\u5236\u5ea6\u7684\u52aa\u529b\uff0c\u4f46\u96a8\u5f8c\u52aa\u529b\u5931\u6557\uff0c\u7f8e\u570b\u7684\u5b98\u65b9\u9ec3\u91d1\u50f9\u683c\u5c31\u4e00\u76f4\u505c\u7559\u572842. 22\u5143\u7684\u50f9\u4f4d\u3002\u5982\u4eca\u9ec3\u91d1\u50f9\u683c\u5df2\u903c\u8fd13000\u5143\uff0c\u82e5\u5c07\u7f8e\u570b\u653f\u5e9c\u7684\u9ec3\u91d1\u5132\u5099\u6309\u5e02\u503c\u8a08\u7b97\uff0c\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u7684\u8cc7\u7522\u96a8\u5373\u589e\u52a0\u4e867737\u5104\u5143\u3002\u9019\u6216\u8a31\u662f\u8c9d\u68ee\u7279\u6240\u6307\u7684\u5c07\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u7684\u8cc7\u7522\u8ca8\u5e63\u5316\uff0c\u4f5c\u70ba\u4e3b\u6b0a\u57fa\u91d1\u7684\u8cc7\u91d1\u4f86\u6e90\u3002 \u7f8e\u570b\u7684\u9ec3\u91d1\u5132\u5099\u50f9\u503c\u91cd\u4f30\uff0c\u662f\u7f8e\u570b\u53ef\u4ee5\u52d5\u7528\u7684\u4e00\u7b46\u7121\u6210\u672c\u8cc7\u91d1\uff0c\u53ef\u4ee5\u6ce8\u5165\u4e3b\u6b0a\u57fa\u91d1\uff0c\u4e5f\u53ef\u4ee5\u4f5c\u5176\u4ed6\u7528\u9014\u3002\u5982\u88ab\u63d0\u540d\u7576\u767d\u5bae\u7d93\u6fdf\u9867\u554f\u7684\u53f2\u63d0\u82ac\u7c73\u862d(Stephen Miran)\uff0c\u5c31\u66fe\u8aaa\u904e\u5c07\u9ec3\u91d1\u8ce3\u6389\u8cb7\u5165\u5176\u4ed6\u8ca8\u5e63\uff0c \u4f86\u9054\u5230\u7f8e\u5143\u8cb6\u503c\u7684\u76ee\u7684\uff0c\u672a\u77e5\u9019\u662f\u6709\u591a\u56b4\u8085\u7684\u5efa\u8b70\u3002\u7121\u8ad6\u5982\u4f55\uff0c\u904e\u53bb\u6578\u5e74\u4e0d\u5c11\u592e\u884c\u90fd\u5927\u91cf\u8cb7\u5165\u9ec3\u91d1\uff0c\u7f8e\u570b\u653f\u5e9c\u5c0d\u5176\u9ec3\u91d1\u5132\u5099\u7684\u64cd\u4f5c\uff0c\u90fd\u6703\u5c0e\u81f4\u9ec3\u91d1\u91cd\u5165\u8ca8\u5e63\u5236\u5ea6 \u7684\u601d\u8003\u3002 \u9678\u708e\u8f1d\u535a\u58eb \u6e2f\u5927\u7d93\u7ba1\u5b78\u9662\u69ae\u8b7d\u526f\u6559\u6388 \uff08\u672c\u6587\u540c\u6642\u65bc\u4e8c\u96f6\u4e8c\u4e94\u5e74\u4e8c\u6708\u4e8c\u5341\u516d\u65e5\u8f09\u65bc\u300a\u4fe1\u5831\u300b\u300c\u9f8d\u864e\u5c71\u4e0b\u300d\u5c08\u6b04\uff09","inLanguage":"zh-HK","isPartOf":{"@id":"https:\/\/www.hkubs.hku.hk\/tc\/#website"},"breadcrumb":{"@id":"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/will-trump-revalue-gold-reserves-to-launch-a-sovereign-wealth-fund\/#breadcrumblist"},"datePublished":"2025-02-26T18:13:59+08:00","dateModified":"2025-02-26T18:37:52+08:00"},{"@type":"WebSite","@id":"https:\/\/www.hkubs.hku.hk\/tc\/#website","url":"https:\/\/www.hkubs.hku.hk\/tc\/","name":"HKU Business School","inLanguage":"zh-HK","publisher":{"@id":"https:\/\/www.hkubs.hku.hk\/tc\/#organization"}}]},"og:locale":"en_US","og:site_name":"HKU Business School -","og:type":"article","og:title":"\u7279\u6717\u666e\u6703\u91cd\u4f30\u9ec3\u91d1\u5132\u5099\u4f86\u5553\u52d5\u4e3b\u6b0a\u57fa\u91d1\u55ce\uff1f - HKU Business School","og:description":"\u7279\u6717\u666e\u4e8c\u5ea6\u4e0a\u53f0\u5f8c\uff0c\u5404\u7a2e\u653f\u7b56\u8fc5\u901f\u767b\u5834\uff0c\u57f7\u884c\u6642\u5927\u5200\u95ca\u65a7\u3001\u96f7\u53b2\u98a8\u884c\u3002\u624d\u4e00\u500b\u591a\u6708\uff0c\u6539\u8b8a\u6bd4\u4efb\u4f55\u65b0\u4e0a\u4efb\u7684\u570b\u5bb6\u5143\u9996\u6240\u505a\u7684\u70ba\u591a\uff0c\u4ee4\u4eba\u76ee\u4e0d\u6687\u7d66\u3002\u5728\u570b\u5167\u4e8b\u52d9\u65b9\u9762\uff0c\u5927\u91cf\u9a45\u9010\u5883\u5167\u7684\u975e\u6cd5\u79fb\u6c11\u548c\u88c1\u6e1b\u806f\u90a6\u653f\u5e9c\u90e8\u9580\u548c\u50f1\u54e1\uff0c \u5305\u62ec\u4e00\u591c\u9593\u95dc\u9589\u4e86\u7f8e\u570b\u570b\u969b\u958b\u767c\u7f72(USAID)\u3002\u5728\u570b\u969b\u4e8b\u52d9\u65b9\u9762\u66f4\u70ba\u300c\u9769\u547d\u6027\u300d\uff0c\u548c\u4fc4\u7f85\u65af\u51b0\u91cb\u524d\u5acc\u7684\u540c\u6642\uff0c\u5c0d\u4f5c\u70ba\u591a\u5e74\u76df\u53cb\u7684\u6b50\u6d32\u4f86\u500b\u8b8a\u81c9\uff0c\u5fb9\u5e95\u5730\u985b\u8986\u4e8680\u5e74\u4f86\u7684\u570b\u969b\u79e9\u5e8f\u3002 \u5728\u773e\u591a\u653f\u7b56\u8b8a\u5316\u4e4b\u4e2d\uff0c\u4e00\u9805\u8f03\u5c11\u53d7\u5230\u6ce8\u610f\u7684\uff0c\u662f\u7279\u6717\u666e\u57282\u67083\u65e5\u6240\u7c3d\u7684\u4e00\u9805\u884c\u653f\u547d\u4ee4\uff0c\u6210\u7acb\u7f8e\u570b\u4e3b\u6b0a\u57fa\u91d1(sovereign wealth fund)\uff0c\u4e26\u8cac\u6210\u8ca1\u653f\u90e8\u9577\u548c\u5546\u52d9\u90e8\u9577\u572890\u5929\u5167\u63d0\u4ea4\u6709\u95dc\u65b9\u6848\uff0c\u5305\u62ec\u8cc7\u91d1\u7c4c\u96c6\u6a5f\u5236\u3001\u6295\u8cc7\u7b56\u7565\u548c\u7ba1\u6cbb\u6a21\u5f0f\u7b49\u3002\u8ca1\u653f\u90e8\u9577\u8c9d\u68ee\u7279\u7a4d\u6975\u56de\u61c9\uff0c\u8a8d\u70ba\u53ef\u572812\u500b\u6708\u5167\u505a\u597d\u6e96\u5099\u53ca\u958b\u59cb\u904b\u4f5c\u3002 \u7c21\u55ae\u800c\u8a00\uff0c\u4e3b\u6b0a\u57fa\u91d1\u662f\u570b\u5bb6\u6216\u653f\u5e9c\u64c1\u6709\u53ca\u7ba1\u7406\u3001\u6295\u8cc7\u65bc\u570b\u5167\u53ca\u570b\u5916\u7684\u8cc7\u7522\u3002\u8cc7\u91d1\u4e00\u822c\u4f86\u81ea\u51fa\u552e\u77f3\u6cb9\u548c\u7926\u7522\u7b49\u5929\u7136\u8cc7\u6e90\uff0c \u5982\u632a\u5a01\u548c\u6c99\u7279\u963f\u62c9\u4f2f\u7684\u4e3b\u6b0a\u57fa\u91d1\uff0c\u4e5f\u6709\u4f86\u81ea\u591a\u5e74\u7d2f\u7a4d\u7684\u5916\u8cbf\u76c8\u9918\uff0c\u5982\u4e2d\u570b\u548c\u65b0\u52a0\u5761\u7b49\u3002 \u81f3\u65bc\u8a2d\u7acb\u4e3b\u6b0a\u57fa\u91d1\u7684\u76ee\u7684\uff0c\u4e3b\u8981\u662f\u5c07\u8cc7\u91d1\u7528\u65bc\u570b\u5bb6\u767c\u5c55\u76ee\u6a19\u3001\u6216\u7528\u4ee5\u7a69\u5b9a\u653f\u5e9c\u8ca1\u653f\u3001\u53c8\u6216\u63d0\u9ad8\u7ba1\u7406\u570b\u5bb6\u8cc7\u7522\u7684\u6548\u7387\u3002\u5982\u6c99\u7279\u963f\u62c9\u4f2f\u8981\u63d0\u9ad8\u5728\u570b\u969b\u9ad4\u80b2\u4e8b\u696d\u4e0a\u7684\u77e5\u540d\u5ea6\uff0c\u4fbf\u901a\u904e\u5176\u540d\u70ba\u300c\u516c\u5171\u6295\u8cc7\u57fa\u91d1\u300d(Public Investment Fund)\u7684\u4e3b\u6b0a\u57fa\u91d1\uff0c\u6536\u8cfc\u4e86\u4e00\u4e9b\u8db3\u7403\u7403\u6703\uff0c\u9ad8\u85aa\u7db2\u7f85\u4e86\u5982C\u6717\u62ff\u5ea6\u7b49\u77e5\u540d\u7403\u54e1\uff0c \u4e26\u8d0a\u52a9\u6578\u6708\u524d\u570b\u969b\u5973\u5b50\u7db2\u7403\u5354\u6703(WTA)\u5e74\u7d42\u7e3d\u6c7a\u8cfd\u7b49\u9805\u76ee\u3002\u9019\u662f\u6bd4\u8f03\u8f15\u9b06\u7684\u4f8b\u5b50\u3002\u4e00\u822c\u7684\u4e3b\u6b0a\u57fa\u91d1\uff0c\u591a\u7528\u65bc\u8f03\u70ba\u67af\u71e5\u7684\u57fa\u790e\u5efa\u8a2d\u3001\u7522\u696d\u653f\u7b56\u3001\u91d1\u878d\u6295\u8cc7\u7b49\u3002 \u7279\u6717\u666e\u7c3d\u7f72\u6210\u7acb\u4e3b\u6b0a\u57fa\u91d1\u7684\u884c\u653f\u547d\u4ee4\u4e0a\uff0c\u8aaa\u6210\u7acb\u57fa\u91d1\u662f\u8981\u63d0\u9ad8\u8ca1\u653f\u6301\u7e8c\u6027\u3001\u6e1b\u8f15\u7f8e\u570b\u5bb6\u5ead\u548c\u5c0f\u578b\u4f01\u696d\u7684\u7a05\u52d9\u8ca0\u64d4\u3001\u53ca\u63a8\u52d5\u7f8e\u570b\u5728\u570b\u969b\u4e0a\u7684\u7d93\u6fdf\u548c\u6230\u7565\u9818\u5c0e\u5730\u4f4d\u3002\u9019\u90fd\u662f\u7c60\u7d71\u7684\u8aaa\u6cd5\uff0c\u8a73\u7d30\u5167\u5bb9\u5927\u6982\u8981\u7b4990\u5929\u5167\u51fa\u7c60\u7684\u65b9\u6848\u624d\u6709\u4ea4\u4ee3\u3002\u7136\u800c\uff0c\u4e3b\u6b0a\u57fa\u91d1\u5982\u4f55\u63d0\u9ad8\u7f8e\u570b\u653f\u5e9c\u7684\u8ca1\u653f\u80fd\u529b\uff0c\u5e36\u4f86\u8ca1\u653f\u6301\u7e8c\u6027\u548c\u6e1b\u8f15\u7a05\u52d9\uff0c\u503c\u5f97\u53c3\u8a73\u3002\u9019\u88cf\u7c21\u55ae\u5730\u5206\u5169\u7a2e\u53ef\u80fd\uff0c\u4e00\u662f\u5728\u57fa\u91d1\u6210\u7acb\u6642\uff0c\u653f\u5e9c\u540c\u6642\u6709\u65b0\u7684\u8cc7\u91d1\u6ce8\u5165\u57fa\u91d1\uff0c\u6bcb\u9700\u6539\u8b8a\u5df2\u6709\u7684\u8ca1\u653f\u5b89\u6392\u3002\u9019\u7576\u7136\u4f7f\u653f\u5e9c\u8ca1\u653f\u66f4\u52a0\u5145\u5be6\uff0c\u4f46\u9019\u4e9b\u65b0\u8cc7\u91d1\u61c9\u5426\u7528\u4f86\u6210\u7acb\u4e3b\u6b0a\u57fa\u91d1\uff0c\u9084\u662f\u6709\u66f4\u597d\u7528\u9014\uff0c\u5982\u6e1b\u8f15\u7576\u524d\u653f\u5e9c\u7684\u50b5\u52d9\u548c\u5c07\u4f86\u7684\u5229\u606f\u958b\u652f\u3002\u53e6\u4e00\u7a2e\u53ef\u80fd\u662f\u653f\u5e9c\u6c92\u6709\u65b0\u8cc7\u91d1\u6ce8\u5165\u4e3b\u6b0a\u57fa\u91d1\uff0c\u9700\u8981\u901a\u904e\u7a05\u6536\u6216\u501f\u8cb8\u5f9e\u5e02\u5834\u53d6\u5f97\u8cc7\u91d1\u4f86\u6295\u8cc7\u3002\u5982\u679c\u653f\u5e9c\u6295\u8cc7\u7684\u56de\u5831\u7387\u548c\u5e02\u5834\u76f8\u7d04\uff0c\u5012\u4e0d\u5982\u5c07\u8cc7\u91d1\u7559\u5728\u5e02\u5834\uff0c\u7121\u9700\u591a\u6b64\u4e00\u8209\uff0c\u907f\u514d\u6392\u64e0\u6548\u61c9\u3002 \u7121\u8ad6\u54ea\u7a2e\u60c5\u6cc1\uff0c\u4e3b\u6b0a\u57fa\u91d1\u53ef\u80fd\u8d77\u5230\u7684\u7d93\u6fdf\u6548\u679c\uff0c\u4e00\u662f\u653f\u5e9c\u4eab\u6709\u7684\u8cc7\u91d1\u6216\u8cc7\u6e90\uff0c\u901a\u904e\u4e3b\u6b0a\u57fa\u91d1\u4f86\u7ba1\u7406\uff0c\u4e0d\u60f3\u6216\u4e0d\u5408\u9069\u8f49\u79fb\u81f3\u5e02\u5834\u3002\u4e8c\u662f\u901a\u904e\u57fa\u91d1\u9f90\u5927\u7684\u898f\u6a21\uff0c\u53ef\u7bc0\u7d04\u6295\u8cc7\u6210\u672c\u6216\u63d0\u9ad8\u56de\u5831\u7387\u3002\u4e09\u662f\u6295\u8cc7\u5728\u5e02\u5834\u4e0d\u6703\u8003\u616e\u4f46\u5c0d\u793e\u6703\u6709\u50f9\u503c\u7684\u65b9\u9762\uff0c\u5373\u500b\u4eba\u56de\u5831\u4f4e\u65bc\u793e\u6703\u56de\u5831\uff0c\u5c6c\u5e02\u5834\u5931\u9748\u3002\u5e02\u5834\u4e0d\u6295\u8cc7\uff0c\u4f46\u4e3b\u6b0a\u57fa\u91d1\u53ef\u4ee5\u8003\u616e\u6295\u8cc7\u3002\u9019\u662f\u4e00\u4e9b\u8ad6\u8005\u8d0a\u6210\u7f8e\u570b\u6210\u7acb\u4e3b\u6b0a\u57fa\u91d1\u7684\u539f\u56e0\uff0c\u4ed6\u5011\u8a8d\u70ba\u7f8e\u570b\u6c92\u6709\u6297\u8861\u4e2d\u570b\u4e00\u5e36\u4e00\u8def\u5728\u5916\u570b\u6295\u8cc7\u57fa\u5efa\u7684\u6a5f\u5236\uff0c\u56e0\u800c\u964d\u4f4e\u4e86\u7f8e\u570b\u7684\u570b\u969b\u5f71\u97ff\u529b\u3002\u76ee\u524d\u7f8e\u570b\u653f\u5e9c\u7684\u6709\u95dc\u90e8\u9580\u662f\u7f8e\u570b\u570b\u969b\u958b\u767c\u91d1\u878d\u516c\u53f8(U.S. International Development Finance Corporation) \uff0c\u4f46\u53d7\u5230\u73fe\u6709\u8ca1\u653f\u898f\u5247\u7684\u9650\u5236\uff0c\u8f03\u96e3\u4ee5\u63d0\u9ad8\u7f8e\u570b\u7684\u570b\u969b\u5f71\u97ff\u529b\u4f5c\u70ba\u6295\u8cc7\u6c7a\u7b56\u7684\u6a19\u6e96\u3002\u65b0\u6210\u7acb\u7684\u4e3b\u6b0a\u57fa\u91d1\uff0c \u6216\u53ef\u64fa\u812b\u6709\u95dc\u7684\u7d04\u675f\u3002 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\u884c\u653f\u547d\u4ee4\u6c92\u6709\u63d0\u53ca\u8a08\u5283\u4e2d\u7684\u7f8e\u570b\u4e3b\u6b0a\u57fa\u91d1\u898f\u6a21\u591a\u5927\uff0c\u4f46\u597d\u4e9b\u8a55\u8ad6\u90fd\u63d0\u53ca\u5230\u4e8c\u842c\u5104\u5143(\u7f8e\u5143\uff0c\u4e0b\u540c)\u7684\u6578\u5b57\u3002\u76ee\u524d\u5168\u7403\u6700\u5927\u7684\u4e09\u500b\u4e3b\u6b0a\u57fa\u91d1\uff0c\u5206\u5225\u662f\u632a\u5a01\u653f\u5e9c\u5168\u7403\u9000\u4f11\u57fa\u91d1(1.74\u842c\u5104\u5143)\u3001\u4e2d\u570b\u6295\u8cc7\u516c\u53f8(1.33\u842c\u5104\u5143)\u548c\u4e2d\u570b\u7684\u570b\u5bb6\u5916\u532f\u7ba1\u7406\u5c40\u6295\u8cc7\u516c\u53f8(1.09\u842c\u5104\u5143)\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u4e8c\u842c\u5104\u5143\u662f\u500b\u4e0d\u5c11\u7684\u6578\u76ee\uff0c\u9019\u9f90\u5927\u7684\u8cc7\u91d1\u5f9e\u4f55\u800c\u4f86\uff1f\u7279\u6717\u666e\u5728\u88ab\u8ffd\u554f\u6642\uff0c\u8aaa\u4f86\u81ea\u95dc\u7a05\u6536\u5165\u53ca\u5176\u4ed6\u8070\u660e\u7684\u65b9\u6cd5(from tariffs and other intelligent things)\u3002\u4ec0\u9ebc\u8070\u660e\u65b9\u6cd5\uff0c\u5927\u62b5\u8981\u65e5\u5f8c\u624d\u63ed\u66c9\u3002 \u4f46\u4ee5\u95dc\u7a05\u6536\u5165\u4f5c\u70ba\u4e3b\u6b0a\u57fa\u91d1\u7684\u4e3b\u8981\u8cc7\u91d1\u4f86\u6e90\uff0c\u5247\u66e0\u65e5\u6301\u4e45\u30022024\u5e74\u7f8e\u570b\u806f\u90a6\u653f\u5e9c\u7684\u8ca1\u653f\u6536\u5165\u70ba4.92\u842c\u5104\u5143\uff0c\u5176\u4e2d\u95dc\u7a05\u7d04\u4f54800\u5104\u5143\u3002 \u7279\u6717\u666e\u5728\u7af6\u9078\u6642\u8a87\u8a87\u5176\u8ac7\u5927\u52a0\u95dc\u7a05\uff0c\u4f46\u548c\u4ed6\u5176\u4ed6\u653f\u7b56\u76f8\u6bd4\uff0c\u5230\u76ee\u524d\u4ecd\u7136\u662f\u96f7\u8072\u5927\u96e8\u9ede\u5c0f\u3002\u5373\u4f7f\u95dc\u7a05\u6536\u5165\u589e\u52a0\u81f3\u53bb\u5e74\u76845\u500d\u4e5f\u53ea\u7d044000\u5104\u5143\uff0c\u4f46\u9019\u6216\u8a31\u5df2\u5e36\u4f86\u4e00\u5b9a\u7684\u901a\u8139\u548c\u8870\u9000\u4e86\u3002\u82e5\u589e\u52a0\u5176\u4ed6\u7a05\u7387\uff0c\u5247\u9055\u53cd\u4e86\u4ed6\u6e1b\u7a05\u7684\u7af6\u9078\u627f\u8afe\u548c\u5171\u548c\u9ee8\u7684\u7d93\u6fdf\u601d\u7dad\u3002\u81f3\u65bc\u767c\u50b5\uff0c\u4e5f\u4e0d\u662f\u7406\u60f3\u7684\u878d\u8cc7\u65b9\u5f0f\uff0c\u4e00\u4f86\u7f8e\u570b\u653f\u5e9c\u5df2\u6b20\u4e0b36\u842c\u5104\u5143\u50b5\u52d9\uff0c\u5168\u7403\u91d1\u878d\u5e02\u5834\u5df2\u5bc6\u5207\u95dc\u6ce8\uff0c\u4e8c\u4f86\u767c\u50b5\u7684\u5229\u606f\u6210\u672c\u8d8a\u4f86\u8d8a\u9ad8\uff0c\u6536\u7a84\u4e86\u7f8e\u570b\u653f\u5e9c\u5c07\u4f86\u7684\u8ca1\u653f\u7a7a\u9593\u3002 \u5012\u662f\u8ca1\u653f\u90e8\u9577\u8c9d\u68ee\u7279\u8aaa\u5f97\u6bd4\u8f03\u6e05\u695a\uff0c\u6307\u51fa\u6703\u5c07\u7f8e\u570b\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u7684\u8cc7\u7522\u8ca8\u5e63\u5316(we are going to monetize the asset side of the US balance sheet)\u3002\u767d\u5bae\u5728\u6709\u95dc\u5834\u5408\u63d0\u4f9b\u7684\u8cc7\u6599\u8aaa\u660e\u4e0a\uff0c\u6307\u51fa\u7f8e\u570b\u653f\u5e9c\u76f4\u63a5\u6301\u67095.7\u842c\u5104\u5143\u8cc7\u7522\u3002 \u4e0d\u904e\u4e5f\u6709\u8ad6\u8005\u6307\u51fa\uff0c\u5176\u4e2d\u6709\u6d41\u52d5\u6027\u7684\uff0c\u53ea\u67091.2\u842c\u5104\u5143\u7684\u73fe\u91d1\u548c\u9ec3\u91d1\u3002 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International Development Finance Corporation) \uff0c\u4f46\u53d7\u5230\u73fe\u6709\u8ca1\u653f\u898f\u5247\u7684\u9650\u5236\uff0c\u8f03\u96e3\u4ee5\u63d0\u9ad8\u7f8e\u570b\u7684\u570b\u969b\u5f71\u97ff\u529b\u4f5c\u70ba\u6295\u8cc7\u6c7a\u7b56\u7684\u6a19\u6e96\u3002\u65b0\u6210\u7acb\u7684\u4e3b\u6b0a\u57fa\u91d1\uff0c \u6216\u53ef\u64fa\u812b\u6709\u95dc\u7684\u7d04\u675f\u3002 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things)\u3002\u4ec0\u9ebc\u8070\u660e\u65b9\u6cd5\uff0c\u5927\u62b5\u8981\u65e5\u5f8c\u624d\u63ed\u66c9\u3002 \u4f46\u4ee5\u95dc\u7a05\u6536\u5165\u4f5c\u70ba\u4e3b\u6b0a\u57fa\u91d1\u7684\u4e3b\u8981\u8cc7\u91d1\u4f86\u6e90\uff0c\u5247\u66e0\u65e5\u6301\u4e45\u30022024\u5e74\u7f8e\u570b\u806f\u90a6\u653f\u5e9c\u7684\u8ca1\u653f\u6536\u5165\u70ba4.92\u842c\u5104\u5143\uff0c\u5176\u4e2d\u95dc\u7a05\u7d04\u4f54800\u5104\u5143\u3002 \u7279\u6717\u666e\u5728\u7af6\u9078\u6642\u8a87\u8a87\u5176\u8ac7\u5927\u52a0\u95dc\u7a05\uff0c\u4f46\u548c\u4ed6\u5176\u4ed6\u653f\u7b56\u76f8\u6bd4\uff0c\u5230\u76ee\u524d\u4ecd\u7136\u662f\u96f7\u8072\u5927\u96e8\u9ede\u5c0f\u3002\u5373\u4f7f\u95dc\u7a05\u6536\u5165\u589e\u52a0\u81f3\u53bb\u5e74\u76845\u500d\u4e5f\u53ea\u7d044000\u5104\u5143\uff0c\u4f46\u9019\u6216\u8a31\u5df2\u5e36\u4f86\u4e00\u5b9a\u7684\u901a\u8139\u548c\u8870\u9000\u4e86\u3002\u82e5\u589e\u52a0\u5176\u4ed6\u7a05\u7387\uff0c\u5247\u9055\u53cd\u4e86\u4ed6\u6e1b\u7a05\u7684\u7af6\u9078\u627f\u8afe\u548c\u5171\u548c\u9ee8\u7684\u7d93\u6fdf\u601d\u7dad\u3002\u81f3\u65bc\u767c\u50b5\uff0c\u4e5f\u4e0d\u662f\u7406\u60f3\u7684\u878d\u8cc7\u65b9\u5f0f\uff0c\u4e00\u4f86\u7f8e\u570b\u653f\u5e9c\u5df2\u6b20\u4e0b36\u842c\u5104\u5143\u50b5\u52d9\uff0c\u5168\u7403\u91d1\u878d\u5e02\u5834\u5df2\u5bc6\u5207\u95dc\u6ce8\uff0c\u4e8c\u4f86\u767c\u50b5\u7684\u5229\u606f\u6210\u672c\u8d8a\u4f86\u8d8a\u9ad8\uff0c\u6536\u7a84\u4e86\u7f8e\u570b\u653f\u5e9c\u5c07\u4f86\u7684\u8ca1\u653f\u7a7a\u9593\u3002 \u5012\u662f\u8ca1\u653f\u90e8\u9577\u8c9d\u68ee\u7279\u8aaa\u5f97\u6bd4\u8f03\u6e05\u695a\uff0c\u6307\u51fa\u6703\u5c07\u7f8e\u570b\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u7684\u8cc7\u7522\u8ca8\u5e63\u5316(we are going to monetize the asset side of the US balance sheet)\u3002\u767d\u5bae\u5728\u6709\u95dc\u5834\u5408\u63d0\u4f9b\u7684\u8cc7\u6599\u8aaa\u660e\u4e0a\uff0c\u6307\u51fa\u7f8e\u570b\u653f\u5e9c\u76f4\u63a5\u6301\u67095.7\u842c\u5104\u5143\u8cc7\u7522\u3002 \u4e0d\u904e\u4e5f\u6709\u8ad6\u8005\u6307\u51fa\uff0c\u5176\u4e2d\u6709\u6d41\u52d5\u6027\u7684\uff0c\u53ea\u67091.2\u842c\u5104\u5143\u7684\u73fe\u91d1\u548c\u9ec3\u91d1\u3002 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22\u5143\u7684\u50f9\u4f4d\u3002\u5982\u4eca\u9ec3\u91d1\u50f9\u683c\u5df2\u903c\u8fd13000\u5143\uff0c\u82e5\u5c07\u7f8e\u570b\u653f\u5e9c\u7684\u9ec3\u91d1\u5132\u5099\u6309\u5e02\u503c\u8a08\u7b97\uff0c\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u7684\u8cc7\u7522\u96a8\u5373\u589e\u52a0\u4e867737\u5104\u5143\u3002\u9019\u6216\u8a31\u662f\u8c9d\u68ee\u7279\u6240\u6307\u7684\u5c07\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u7684\u8cc7\u7522\u8ca8\u5e63\u5316\uff0c\u4f5c\u70ba\u4e3b\u6b0a\u57fa\u91d1\u7684\u8cc7\u91d1\u4f86\u6e90\u3002 \u7f8e\u570b\u7684\u9ec3\u91d1\u5132\u5099\u50f9\u503c\u91cd\u4f30\uff0c\u662f\u7f8e\u570b\u53ef\u4ee5\u52d5\u7528\u7684\u4e00\u7b46\u7121\u6210\u672c\u8cc7\u91d1\uff0c\u53ef\u4ee5\u6ce8\u5165\u4e3b\u6b0a\u57fa\u91d1\uff0c\u4e5f\u53ef\u4ee5\u4f5c\u5176\u4ed6\u7528\u9014\u3002\u5982\u88ab\u63d0\u540d\u7576\u767d\u5bae\u7d93\u6fdf\u9867\u554f\u7684\u53f2\u63d0\u82ac\u7c73\u862d(Stephen Miran)\uff0c\u5c31\u66fe\u8aaa\u904e\u5c07\u9ec3\u91d1\u8ce3\u6389\u8cb7\u5165\u5176\u4ed6\u8ca8\u5e63\uff0c \u4f86\u9054\u5230\u7f8e\u5143\u8cb6\u503c\u7684\u76ee\u7684\uff0c\u672a\u77e5\u9019\u662f\u6709\u591a\u56b4\u8085\u7684\u5efa\u8b70\u3002\u7121\u8ad6\u5982\u4f55\uff0c\u904e\u53bb\u6578\u5e74\u4e0d\u5c11\u592e\u884c\u90fd\u5927\u91cf\u8cb7\u5165\u9ec3\u91d1\uff0c\u7f8e\u570b\u653f\u5e9c\u5c0d\u5176\u9ec3\u91d1\u5132\u5099\u7684\u64cd\u4f5c\uff0c\u90fd\u6703\u5c0e\u81f4\u9ec3\u91d1\u91cd\u5165\u8ca8\u5e63\u5236\u5ea6 \u7684\u601d\u8003\u3002 \u9678\u708e\u8f1d\u535a\u58eb \u6e2f\u5927\u7d93\u7ba1\u5b78\u9662\u69ae\u8b7d\u526f\u6559\u6388 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class=\"aioseo-breadcrumb\">\n\t\t\t\u7279\u6717\u666e\u6703\u91cd\u4f30\u9ec3\u91d1\u5132\u5099\u4f86\u5553\u52d5\u4e3b\u6b0a\u57fa\u91d1\u55ce\uff1f\n\t\t<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/www.hkubs.hku.hk\/tc\/"},{"label":"\u9f8d\u864e\u5c71\u4e0b","link":"https:\/\/www.hkubs.hku.hk\/tc\/thought-leadership\/hkej-column-tc\/"},{"label":"\u7279\u6717\u666e\u6703\u91cd\u4f30\u9ec3\u91d1\u5132\u5099\u4f86\u5553\u52d5\u4e3b\u6b0a\u57fa\u91d1\u55ce\uff1f","link":"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/will-trump-revalue-gold-reserves-to-launch-a-sovereign-wealth-fund\/"}],"_links":{"self":[{"href":"https:\/\/www.hkubs.hku.hk\/tc\/wp-json\/wp\/v2\/thought-leadership\/230834","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hkubs.hku.hk\/tc\/wp-json\/wp\/v2\/thought-leadership"}],"about":[{"href":"https:\/\/www.hkubs.hku.hk\/tc\/wp-json\/wp\/v2\/types\/thought-leadership"}],"version-history":[{"count":6,"href":"https:\/\/www.hkubs.hku.hk\/tc\/wp-json\/wp\/v2\/thought-leadership\/230834\/revisions"}],"predecessor-version":[{"id":230850,"href":"https:\/\/www.hkubs.hku.hk\/tc\/wp-json\/wp\/v2\/thought-leadership\/230834\/revisions\/230850"}],"wp:attachment":[{"href":"https:\/\/www.hkubs.hku.hk\/tc\/wp-json\/wp\/v2\/media?parent=230834"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hkubs.hku.hk\/tc\/wp-json\/wp\/v2\/tags?post=230834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}