{"id":19137,"date":"2025-04-04T09:37:35","date_gmt":"2025-04-04T08:37:35","guid":{"rendered":"https:\/\/finalto.com\/resources\/news-events\/news\/%e5%85%b3%e7%a8%8e%e4%b8%8e%e5%85%a8%e7%90%83%e9%9c%80%e6%b1%82%ef%bc%9a%e6%8a%95%e8%b5%84%e8%80%85%e6%98%af%e5%90%a6%e9%9c%80%e8%a6%81%e6%96%b0%e7%9a%84%e4%ba%a4%e6%98%93%e7%ad%96%e7%95%a5%ef%bc%9f\/"},"modified":"2026-06-16T14:02:57","modified_gmt":"2026-06-16T13:02:57","slug":"%e5%85%b3%e7%a8%8e%e4%b8%8e%e5%85%a8%e7%90%83%e9%9c%80%e6%b1%82%ef%bc%9a%e6%8a%95%e8%b5%84%e8%80%85%e6%98%af%e5%90%a6%e9%9c%80%e8%a6%81%e6%96%b0%e7%9a%84%e4%ba%a4%e6%98%93%e7%ad%96%e7%95%a5%ef%bc%9f","status":"publish","type":"post","link":"https:\/\/finalto.com\/zh-hans\/resources\/news-events\/news\/%e5%85%b3%e7%a8%8e%e4%b8%8e%e5%85%a8%e7%90%83%e9%9c%80%e6%b1%82%ef%bc%9a%e6%8a%95%e8%b5%84%e8%80%85%e6%98%af%e5%90%a6%e9%9c%80%e8%a6%81%e6%96%b0%e7%9a%84%e4%ba%a4%e6%98%93%e7%ad%96%e7%95%a5%ef%bc%9f\/","title":{"rendered":"\u5173\u7a0e\u4e0e\u5168\u7403\u9700\u6c42\uff1a\u6295\u8d44\u8005\u662f\u5426\u9700\u8981\u65b0\u7684\u4ea4\u6613\u7b56\u7565\uff1f"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\">\u5173\u7a0e\u4e0e\u5168\u7403\u9700\u6c42\uff1a\u6295\u8d44\u8005\u662f\u5426\u9700\u8981\u65b0\u7684\u4ea4\u6613\u7b56\u7565\uff1f<\/h1>\n\n<p>\u8c01\u5728\u8d2d\u4e70\u4e16\u754c\u4e0a\u7684\u5546\u54c1\uff1f\u4e2d\u56fd\u5e38\u88ab\u79f0\u4e3a\u201c\u4e16\u754c\u5de5\u5382\u201d\uff1b\u90a3\u4e48\uff0c\u662f\u5426\u4e5f\u6709\u76f8\u5e94\u7684\u201c\u4e16\u754c\u8d85\u5e02\u201d\u5462\uff1f <\/p>\n\n<p>\u653f\u6cbb\u7ecf\u6d4e\u5b66\u5bb6\u6d2a\u6d69\u5cf0\u66fe\u6307\u51fa\uff0c\u5168\u7403\u7ecf\u6d4e\u5728\u5f88\u5927\u7a0b\u5ea6\u4e0a\u4f9d\u8d56\u4e8e\u7f8e\u56fd\u7684\u9700\u6c42\u3002\u4ed6<a href=\"https:\/\/x.com\/hofunghung\/status\/1907636137545343121\">\u66fe\u5728\u63a8\u7279\u4e0a\u63d0\u51fa\u4e00\u4e2a\u53d1\u4eba\u6df1\u7701\u7684\u95ee\u9898<\/a>\uff1a\u5047\u8bbe\u4e2d\u56fd\u3001\u65e5\u672c\u548c\u97e9\u56fd\u8fbe\u6210\u534f\u8bae\uff0c\u589e\u52a0\u5f7c\u6b64\u4e4b\u95f4\u7684\u8d38\u6613\uff0c\u90a3\u4e48\u4ed6\u4eec\u7a76\u7adf\u8981\u5356\u7ed9\u8c01\uff1f\u96be\u9053\u662f\u8981\u51fa\u53e3\u5230\u706b\u661f\u5417\uff1f  <\/p>\n\n<p>\u5728\u8fd9\u53e5\u620f\u8c11\u7684\u8a00\u8bba\u80cc\u540e\uff0c\u9690\u85cf\u7740\u4e00\u4e2a\u4e25\u5cfb\u7684\u7ecf\u6d4e\u95ee\u9898\u3002\u5185\u9700\u4e0d\u8db3\u957f\u671f\u4ee5\u6765\u4e00\u76f4\u662f\u4e2d\u56fd\u7ecf\u6d4e\u4e2d\u4e00\u4e2a\u663e\u800c\u6613\u89c1\u7684\u8f6f\u808b\uff0c\u800c\u4e2d\u56fd\u9886\u5bfc\u4eba\u73b0\u5728\u6b63\uff08<a href=\"https:\/\/carnegieendowment.org\/posts\/2024\/07\/why-is-it-so-hard-for-china-to-boost-domestic-demand?lang=en\" target=\"_blank\" rel=\"noopener\">\u5c3d\u7ba1\u53ef\u80fd\u6709\u4e9b\u8fdf\u4e86<\/a>\uff09<a href=\"https:\/\/www.theguardian.com\/business\/2025\/mar\/17\/china-consumption-economy-trump-tariffs\" target=\"_blank\" rel=\"noopener\">\u79ef\u6781\u81f4\u529b\u4e8e\u89e3\u51b3<\/a>\u8fd9\u4e00\u95ee\u9898\u3002 <\/p>\n\n<p>\u5f53\u7136\uff0c\u672c\u4e16\u7eaa\u4ee5\u6765\uff0c\u4e2d\u56fd\u9700\u6c42\u5bf9\u5168\u7403\u7ecf\u6d4e\u8d77\u5230\u4e86\u5173\u952e\u4f5c\u7528\u30022000\u5e74\u4ee3\u7531\u4e2d\u56fd\u7ecf\u6d4e\u5feb\u901f\u589e\u957f\u9a71\u52a8\u7684\u5927\u5b97\u5546\u54c1\u8d85\u7ea7\u5468\u671f\uff0c\u4f7f\u5f97\u5927\u5b97\u5546\u54c1\u4ef7\u683c\u6301\u7eed\u8d70\u9ad8\uff08\u5c3d\u7ba1\u671f\u95f4\u66fe\u51fa\u73b0\u8fc7\u95f4\u6b47\u6027\u5371\u673a\uff09\u3002<a href=\"https:\/\/thedocs.worldbank.org\/en\/doc\/634041540477574905-0050022018\/original\/CMOOctober2018SpecialFocus.pdf\" target=\"_blank\" rel=\"noopener\">\u4e16\u754c\u94f6\u884c\u7684\u4e00\u4efd\u62a5\u544a<\/a>\u6307\u51fa\uff0c\u5728\u957f\u8fbe\u4e8c\u5341\u5e74\u7684\u65f6\u95f4\u91cc\uff0c\u201c\u4e2d\u56fd\u5360\u540c\u671f\u5168\u7403\u91d1\u5c5e\u9700\u6c42\u589e\u957f\u7684\u4e94\u5206\u4e4b\u56db\uff0c\u4ee5\u53ca\u5168\u7403\u80fd\u6e90\u9700\u6c42\u589e\u957f\u7684\u4e00\u534a\u201d\u3002  <\/p>\n\n<p>\u4e00\u4e9b\u6295\u8d44\u8005<a href=\"https:\/\/www.ft.com\/content\/8ae50718-31ce-4e18-8491-33a600bbd3a5\" target=\"_blank\" rel=\"noopener\">\u4e00\u76f4\u671f\u5f85<\/a>\u5927\u5b97\u5546\u54c1\u9700\u6c42\u80fd\u8fce\u6765\u65b0\u4e00\u8f6e\u589e\u957f\uff0c\u8fd9\u4e3b\u8981\u5f97\u76ca\u4e8e\u7eff\u8272\u80fd\u6e90\u9769\u547d\u4ee5\u53ca\u5bf9\u4eba\u5de5\u667a\u80fd\u6570\u636e\u4e2d\u5fc3\u7b49\u9ad8\u80fd\u8017\u6280\u672f\u7684\u6295\u8d44\u3002<\/p>\n\n<p>\u7136\u800c\uff0c<a href=\"https:\/\/www.reuters.com\/world\/uk\/uk-stocks-slide-trumps-tariffs-spark-global-recession-fears-2025-04-03\/\" target=\"_blank\" rel=\"noopener\">\u5168\u7403\u7ecf\u6d4e\u8870\u9000<\/a>\u53ef\u80fd\u4f1a\u4f7f\u8fd9\u4e9b\u9884\u671f\u843d\u7a7a\u3002\u6b64\u5916\uff0c\u968f\u7740\u7f8e\u56fd\u5173\u7a0e\u63aa\u65bd\u7684\u751f\u6548\uff0c\u4e00\u4e2a\u5173\u952e\u95ee\u9898\u968f\u4e4b\u6d6e\u73b0\uff1a\u8c01\u6765\u6d88\u5316\u5168\u7403\u6301\u7eed\u751f\u4ea7\u7684\u8fd9\u4e9b\u5546\u54c1\uff1f <\/p>\n\n<h5 class=\"wp-block-heading\">\u4f9b\u7ed9\u3001\u9700\u6c42\u4e0e\u4e0d\u786e\u5b9a\u6027<\/h5>\n\n<p>\u6211\u4eec<a href=\"https:\/\/finalto.com\/au\/blogs\/red-is-the-new-yellow-why-all-eyes-are-on-copper\/\">\u6700\u8fd1\u63a2\u8ba8\u4e86<\/a>\u5f71\u54cd\u6295\u8d44\u8005\u5bf9\u5927\u5b97\u5546\u54c1\u6295\u8d44\u610f\u613f\u7684\u8bf8\u591a\u590d\u6742\u56e0\u7d20\u3002\u6295\u8d44\u8005\u53ef\u80fd\u4f1a\u8f6c\u5411\u9ec4\u91d1\uff0c\u56e0\u4e3a\u4ed6\u4eec\u5c06\u5176\u89c6\u4e3a\u4e00\u79cd\u5b89\u5168\u8d44\u4ea7\uff0c\u7528\u4ee5\u5bf9\u51b2\u901a\u80c0\u548c\u4e0d\u786e\u5b9a\u6027\u3002\u800c\u94dc\u3001\u94c1\u7b49\u91d1\u5c5e\u7684\u9700\u6c42\uff0c\u5219\u4e3b\u8981\u53d7\u7ecf\u6d4e\u589e\u957f\u9884\u671f\u7684\u9a71\u52a8\u3002  <\/p>\n\n<p>\u5230\u76ee\u524d\u4e3a\u6b62\uff0c\u8fd9\u4e9b\u90fd\u5f88\u663e\u800c\u6613\u89c1\u3002\u771f\u6b63\u7684\u7cbe\u5999\u4e4b\u5904\u5728\u4e8e\uff0c\u5f53\u5e02\u573a\u52a8\u6001\u53d1\u751f\u53d8\u5316\u65f6\uff0c\u80fd\u591f\u654f\u9510\u5730\u53d1\u73b0\u673a\u9047\u4e0e\u98ce\u9669\u3002 <\/p>\n\n<p>\u6b63\u5982\u82b1\u65d7\u96c6\u56e2\u5927\u5b97\u5546\u54c1\u7814\u7a76\u5168\u7403\u4e3b\u7ba1<a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2025-04-02\/what-impact-could-trump-tariffs-have-on-copper-markets-video\" target=\"_blank\" rel=\"noopener\">\u5411\u5f6d\u535a\u793e\u6240\u8a00<\/a>\uff0c\u5173\u7a0e\u8fc4\u4eca\u4e3a\u6b62\u5bf9\u94dc\u4ef7\u8d77\u5230\u4e86\u63d0\u632f\u4f5c\u7528\uff0c\u8fd9\u4f53\u73b0\u5728\u5e93\u5b58\u589e\u52a0\u3001\u63d0\u524d\u91c7\u8d2d\u4ee5\u53ca\u5c06\u66f4\u591a\u5e9f\u94dc\u4fdd\u7559\u5728\u56fd\u5185\u7b49\u65b9\u9762\u3002 \u7136\u800c\uff0c\u53d7\u5173\u7a0e\u5bf9\u94dc\u8fdb\u53e3\u7684\u76f4\u63a5\u5f71\u54cd\uff0c\u4ee5\u53ca\u7f8e\u56fd\u548c\u5168\u7403\u7ecf\u6d4e\u6d3b\u52a8\u53ef\u80fd\u653e\u7f13\u7684\u5f71\u54cd\uff0c\u8fd9\u79cd\u9700\u6c42\u589e\u957f\u5728\u672a\u6765\u51e0\u4e2a\u6708\u5185\u53ef\u80fd\u4f1a\u51cf\u5f31\u3002 <\/p>\n\n<p>\u7531\u4e8e\u94dc\u5728\u5173\u952e\u57fa\u7840\u8bbe\u65bd\u4e2d\u7684\u91cd\u8981\u4f5c\u7528\uff0c\u5176\u9700\u6c42\u5bf9\u6295\u8d44\u7387\u5c24\u4e3a\u654f\u611f\u3002\u7136\u800c\uff0c\u603b\u4f53\u8d8b\u52bf\u4f9d\u7136\u4e0d\u53d8\uff1a\u5173\u7a0e\u63a8\u9ad8\u4e86\u5927\u5b97\u5546\u54c1\u548c\u5546\u54c1\u7684\u4ef7\u683c\uff0c\u800c\u7531\u6b64\u4ea7\u751f\u7684\u901a\u80c0\u538b\u529b\u53c8\u4f1a\u540c\u65f6\u6291\u5236\u9700\u6c42\u3002\u672a\u6765\u6570\u6708\uff0c\u6295\u8d44\u8005\u9700\u8981\u8c28\u614e\u5e94\u5bf9\u8fd9\u4e9b\u76f8\u4e92\u77db\u76fe\u7684\u56e0\u7d20\u3002  <\/p>\n\n<h5 class=\"wp-block-heading\">\u907f\u98ce\u6e2f\u8fd8\u662f\u98ce\u9669\u504f\u597d\uff1f<\/h5>\n\n<p>\u5728\u7279\u6717\u666e\u5ba3\u5e03\u52a0\u5f81\u5173\u7a0e\u540e\u4e0d\u4e45\uff0c<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-04-02\/japan-s-stock-futures-fall-as-trump-unveils-tariffs-yen-rises\" target=\"_blank\" rel=\"noopener\">\u65e5\u5143\u6c47\u7387\u4fbf\u51fa\u73b0\u4e0a\u6da8<\/a>\uff0c\u800c\u9ec4\u91d1\u9700\u6c42\u4f9d\u7136\u5f3a\u52b2\u3002<\/p>\n\n<p>\u8fd9\u5f15\u53d1\u4e86\u4e00\u4e9b\u5173\u952e\u95ee\u9898\uff1a<\/p>\n\n<ul 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href=\"https:\/\/www.apolloacademy.com\/higher-policy-uncertainty-having-a-negative-impact-on-capital-markets\/\" target=\"_blank\" rel=\"noopener\">\u4e0d\u786e\u5b9a\u6027\u52a0\u5267<\/a>\u548c\u4ea4\u6613\u73af\u5883\u65e5\u65b0\u6708\u5f02\uff0c\u4e00\u4e2a\u53ef\u9760\u7684\u591a\u8d44\u4ea7\u4ea4\u6613\u5e73\u53f0\u5bf9\u4e8e\u4ea4\u6613\u8005\u6709\u6548\u6267\u884c\u5176\u7b56\u7565\u800c\u8a00\u81f3\u5173\u91cd\u8981\u3002 <\/p>\n\n<p>Finalto \u7684\u5b9a\u5236\u5316\u6d41\u52a8\u6027\u89e3\u51b3\u65b9\u6848\u548c\u4e13\u6709\u4ea4\u6613\u6280\u672f\u65e8\u5728\u5e2e\u52a9\u60a8\u6709\u6548\u6267\u884c\u4ea4\u6613\u7b56\u7565\u3002\u6211\u4eec\u63d0\u4f9b\u591a\u8d44\u4ea7\u4ea4\u6613\u670d\u52a1\uff0c\u8ba9\u60a8\u80fd\u591f\u4ea4\u6613\u6db5\u76d6\u591a\u4e2a\u8d44\u4ea7\u7c7b\u522b\u7684\u6570\u5343\u79cd\u91d1\u878d\u5de5\u5177\u3002 <\/p>\n\n<p><a href=\"https:\/\/finalto.com\/zh-hans\/%e8%81%94%e7%b3%bb%e6%88%91%e4%bb%ac\/\">\u8bf7\u8054\u7cfb 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