{"id":38086,"date":"2023-07-08T20:00:00","date_gmt":"2023-07-08T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=38086"},"modified":"2023-07-08T20:57:57","modified_gmt":"2023-07-08T11:57:57","slug":"%e6%97%a5%e9%8a%80%e3%81%ae%e7%99%bd%e5%b7%9d%e5%85%83%e7%b7%8f%e8%a3%81%e3%81%8c%e7%b5%8c%e6%b8%88%e5%ad%a6%e8%80%85%e3%82%b5%e3%83%9e%e3%83%bc%e3%82%ba%e6%b0%8f%e3%81%ae%e8%ac%9b%e6%bc%94%e3%81%a7","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/38086","title":{"rendered":"\u65e5\u9280\u306e\u767d\u5ddd\u5143\u7dcf\u88c1\u304c\u7d4c\u6e08\u5b66\u8005\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u8b1b\u6f14\u3067\u975e\u5e38\u306b\u8208\u5473\u6df1\u3044\u8cea\u554f\u3092\u3057\u3066\u3044\u305f"},"content":{"rendered":"\n<p>\u3055\u3066\u3001\u3053\u308c\u307e\u3067\u30a2\u30e1\u30ea\u30ab\u306e\u5143\u8ca1\u52d9\u9577\u5b98\u3067\u7d4c\u6e08\u5b66\u8005\u306e\u30e9\u30ea\u30fc\u30fb\u30b5\u30de\u30fc\u30ba\u6c0f\u306ePeterson Institute for International Economics\u306b\u304a\u3051\u308b\u8b1b\u6f14\u306e\u5185\u5bb9\u3092\u5831\u3058\u3066\u304d\u305f\u304c\u3001\u5b9f\u306f\u3053\u306e\u8b1b\u6f14\u306b\u9ed2\u7530\u6c0f\u306e\u524d\u306b\u65e5\u9280\u306e\u7dcf\u88c1\u3060\u3063\u305f\u767d\u5ddd\u65b9\u660e\u6c0f\u304c\u51fa\u5e2d\u3057\u3066\u304a\u308a\u3001\u30b5\u30de\u30fc\u30ba\u6c0f\u306b\u5411\u3051\u3066\u306a\u304b\u306a\u304b\u9762\u767d\u3044\u8cea\u554f\u3092\u3057\u3066\u3044\u305f\u3002\u3053\u306e\u8a18\u4e8b\u3067\u7d39\u4ecb\u3057\u305f\u3044\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u8cea\u554f\u30bf\u30a4\u30e0\u306b\u767d\u5ddd\u6c0f\u767b\u5834<\/strong><\/p>\n\n\n\n<p>\u3053\u306e\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u8b1b\u6f14\u306b\u3064\u3044\u3066\u306f\u3053\u308c\u307e\u3067\u306e\u8a18\u4e8b\u3067\u53d6\u308a\u4e0a\u3052\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/37952\" data-type=\"post\" data-id=\"37952\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u9ad8\u9f62\u5316\u793e\u4f1a\u3067\u4eca\u5f8c\u653f\u5e9c\u306e\u4e88\u7b97\u306f\u5897\u3048\u3066\u3086\u304f\u3079\u304d<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/38083\" data-type=\"post\" data-id=\"38083\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u30a2\u30e1\u30ea\u30ab\u306f\u3042\u30680.5%\u5229\u4e0a\u3052\u3059\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304c\u3053\u306e\u8b1b\u6f14\u3092\u805e\u3044\u3066\u3044\u3066\u9a5a\u3044\u305f\u3002\u8b1b\u6f14\u5f8c\u306b\u5f53\u3066\u3089\u308c\u305f\u8cea\u554f\u8005\u306e\u4e2d\u304b\u3089\u3044\u304d\u306a\u308a\u6b21\u306e\u58f0\u304c\u805e\u3053\u3048\u3066\u304d\u305f\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u767d\u5ddd\u65b9\u660e\u3067\u3059\u3002\u65e5\u672c\u9280\u884c\u306e\u5143\u7dcf\u88c1\u3067\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3060\u304c\u3053\u306e\u8cea\u554f\u304c\u79c0\u9038\u3060\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u767d\u5ddd\u6c0f\u306e\u8cea\u554f\u306f\u4e2d\u592e\u9280\u884c\u306e\u30a4\u30f3\u30d5\u30ec\u76ee\u6a19\u306b\u95a2\u3059\u308b\u3082\u306e\u3067\u3042\u308b\u3002\u4e2d\u592e\u9280\u884c\u306f\u4e00\u822c\u306b2%\u306e\u30a4\u30f3\u30d5\u30ec\u76ee\u6a19\u3092\u63b2\u3052\u308b\u3053\u3068\u304c\u591a\u3044\u304c\u3001\u5b9f\u306f\u3053\u306e2%\u3068\u3044\u3046\u6570\u5b57\u306b\u306f\u5927\u3057\u3066\u6839\u62e0\u304c\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/11992\" data-type=\"post\" data-id=\"11992\">\u30cf\u30a4\u30a8\u30af: \u30a4\u30f3\u30d5\u30ec\u4e3b\u7fa9\u306f\u975e\u79d1\u5b66\u7684\u8ff7\u4fe1<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3082\u3046\u8ab0\u3067\u3082\u5206\u304b\u3063\u3066\u3044\u308b\u3068\u601d\u3046\u304c\u3001\u30a2\u30d9\u30ce\u30df\u30af\u30b9\u304c\u4f55\u5e74\u3082\u306e\u7d19\u5e63\u5370\u5237\u306b\u3088\u3063\u3066\u76ee\u6307\u3057\u3066\u304d\u305f\u300c\u30a4\u30f3\u30d5\u30ec\u300d\u3068\u306f\u300c\u7269\u4fa1\u4e0a\u6607\u300d\u3068\u3044\u3046\u610f\u5473\u3067\u3042\u308a\u3001\u305d\u308c\u4ee5\u5916\u306e\u610f\u5473\u306f\u306a\u3044\u3002\u7269\u4fa1\u304c\u4e0a\u6607\u3059\u308b\u306e\u306f\u4eca\u306e\u3088\u3046\u306b\u9700\u8981\u306b\u5bfe\u3057\u3066\u3082\u306e\u304c\u4e0d\u8db3\u3059\u308b\u3088\u3046\u306a\u72b6\u6cc1\u3067\u3042\u308a\u3001\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u306e\u652f\u6301\u8005\u305f\u3061\u306f\u3082\u306e\u304c\u4e0d\u8db3\u3059\u308b\u72b6\u6cc1\u304c\u826f\u3044\u306a\u3069\u3068\u3088\u304f\u3082\u8a00\u3063\u305f\u3082\u306e\u3060\u3002<\/p>\n\n\n\n<p>\u5b9f\u969b\u306b\u306f\u3001\u653f\u6cbb\u5bb6\u304c\u30a4\u30f3\u30d5\u30ec\u3092\u76ee\u6307\u3057\u305f\u7406\u7531\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u826f\u3044\u3082\u306e\u3060\u304b\u3089\u3067\u306f\u306a\u3044\u3002\u305d\u306e\u7406\u7531\u306f\u5225\u306b\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/29198\" data-type=\"post\" data-id=\"29198\">\u5229\u4e0a\u3052\u3067\u9810\u91d1\u8005\u306f\u30a4\u30f3\u30d5\u30ec\u304b\u3089\u8cc7\u7523\u9632\u885b\u3067\u304d\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u65e5\u9280\u304c\u5229\u4e0a\u3052\u3092\u884c\u308f\u306a\u3044\u7406\u7531<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304c\u767d\u5ddd\u6c0f\u306f\u30a2\u30d9\u30ce\u30df\u30af\u30b9\u4ee5\u524d\u306e\u6700\u5f8c\u306e\u65e5\u9280\u7dcf\u88c1\u3067\u3042\u308b\u3002\u767d\u5ddd\u6c0f\u306f\u30a2\u30d9\u30ce\u30df\u30af\u30b9\u306e\u30ea\u30d5\u30ec\u653f\u7b56\u3092\u53d7\u3051\u5165\u308c\u308b\u3053\u3068\u3092\u62d2\u5426\u3057\u3001\u653f\u6cbb\u7684\u90fd\u5408\u3067\u7d19\u5e63\u5370\u5237\u3092\u3084\u308a\u305f\u304c\u3063\u305f\u5b89\u500d\u6c0f\u306b\u3088\u3063\u3066\u65e5\u9280\u7dcf\u88c1\u306e\u5ea7\u3092\u964d\u308d\u3055\u308c\u305f\u3002<\/p>\n\n\n\n<p><strong>\u30a4\u30f3\u30d5\u30ec\u30bf\u30fc\u30b2\u30c3\u30c8\u306e\u610f\u7fa9<\/strong><\/p>\n\n\n\n<p>\u305d\u306e\u767d\u5ddd\u6c0f\u306f\u3001\u5b8c\u5168\u306b\u653f\u6cbb\u7684\u306a\u7523\u7269\u3067\u3042\u308b\u30a4\u30f3\u30d5\u30ec\u30bf\u30fc\u30b2\u30c3\u30c8\u3092\u7591\u554f\u8996\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3082\u305d\u3082\u3001\u65e5\u9280\u306e\u73fe\u7dcf\u88c1\u3067\u3042\u308b\u690d\u7530\u6c0f\u3082\u8a00\u3063\u3066\u3044\u305f\u3088\u3046\u306b\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u306f0%\u3092\u4e0a\u306b\u96e2\u308c\u3066\u3082\u4e0b\u306b\u96e2\u308c\u3066\u3082\u7d4c\u6e08\u306b\u3068\u3063\u3066\u975e\u52b9\u7387\u3068\u306a\u308b\u3002\u9700\u8981\u3068\u4f9b\u7d66\u304c\u5408\u81f4\u3057\u3066\u3044\u306a\u3044\u72b6\u6cc1\u304c\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u30bc\u30ed\u3067\u306f\u306a\u3044\u72b6\u6cc1\u3060\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3067\u306f\u4f55\u65452%\u306a\u3069\u3068\u3044\u3046\u8a71\u306b\u306a\u308b\u306e\u304b\u3002\u30a4\u30f3\u30d5\u30ec\u76ee\u6a19\u306b\u3082\u4e00\u5fdc\u5efa\u524d\u4e0a\u306e\u7406\u5c48\u306f\u3042\u308b\u3002\u30a4\u30f3\u30d5\u30ec\u7387\u304c0%\u306b\u306a\u3063\u305f\u3068\u304d\u3001\u91d1\u5229\u306f0%\u3088\u308a\u4e0b\u306b\u4e0b\u3052\u308b\u3053\u3068\u304c\u96e3\u3057\u3044\u306e\u3067\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u30bc\u30ed\u306b\u306a\u308b\u3068\u5229\u4e0b\u3052\u306b\u3088\u3063\u3066\u30a4\u30f3\u30d5\u30ec\u7387\u3092\u64cd\u4f5c\u3059\u308b\u3053\u3068\u304c\u96e3\u3057\u304f\u306a\u3063\u3066\u3057\u307e\u3046\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u30a4\u30f3\u30d5\u30ec\u7387\u306f0%\u3067\u306f\u306a\u304f2%\u306b\u3057\u3066\u304a\u3053\u3046\u3068\u3044\u3046\u3053\u3068\u3060\u3002\u30a4\u30f3\u30d5\u30ec\u7387\u304c2%\u3067\u91d1\u5229\u30822%\u306a\u3089\u3001\u307e\u3060\u5229\u4e0b\u3052\u306e\u4f59\u5730\u304c\u3042\u308b\u3002\u3060\u304c\u767d\u5ddd\u6c0f\u306f\u30ea\u30d5\u30ec\u6d3e\u306e\u3053\u306e\u7406\u5c48\u306b\u7570\u3092\u5531\u3048\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p><strong>\u767d\u5ddd\u6c0f\u306e\u8cea\u554f<\/strong><\/p>\n\n\n\n<p>\u767d\u5ddd\u6c0f\u306e\u8b70\u8ad6\u306f\u3001\u30b3\u30ed\u30ca\u5f8c\u306e\u30a4\u30f3\u30d5\u30ec\u3092\u8e0f\u307e\u3048\u305f\u3082\u306e\u3067\u3042\u308b\u3002\u30b3\u30ed\u30ca\u5f8c\u306e\u30a4\u30f3\u30d5\u30ec\u306f\u73fe\u91d1\u7d66\u4ed8\u304c\u5f15\u304d\u8d77\u3053\u3057\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/30188\" data-type=\"post\" data-id=\"30188\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f: \u30d7\u30fc\u30c1\u30f3\u6c0f\u304c\u5f15\u304d\u8d77\u3053\u3057\u305f\u308f\u3051\u3067\u306f\u306a\u3044\u30a4\u30f3\u30d5\u30ec\u306e\u672c\u5f53\u306e\u7406\u7531<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/33013\" data-type=\"post\" data-id=\"33013\">\u4e16\u754c\u6700\u9ad8\u306e\u7d4c\u6e08\u5b66\u8005\u30b5\u30de\u30fc\u30ba\u6c0f\u304c\u8aac\u660e\u3059\u308b\u30a4\u30f3\u30d5\u30ec\u306e\u672c\u5f53\u306e\u7406\u7531<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u4e16\u754c\u7684\u306b\u306f\u3001\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u3067\u30a4\u30f3\u30d5\u30ec\u304c\u3069\u3046\u306e\u3068\u3044\u3046\u30c7\u30de\u306f\u3001\u30de\u30b9\u30b3\u30df\u306e\u51fa\u9c48\u76ee\u3092\u9d5c\u5451\u307f\u306b\u3059\u308b\u65e5\u672c\u306e\u7d20\u4eba\u3057\u304b\u4fe1\u3058\u3066\u304a\u3089\u305a\u3001\u5c02\u9580\u5bb6\u306e\u9593\u3067\u306f\u30a4\u30f3\u30d5\u30ec\u306e\u539f\u56e0\u306f\u660e\u3089\u304b\u306a\u306e\u3067\u3001\u767d\u5ddd\u6c0f\u3082\u305d\u308c\u3092\u524d\u63d0\u306b\u6b21\u306e\u3088\u3046\u306b\u30b5\u30de\u30fc\u30ba\u6c0f\u306b\u8cea\u554f\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u3044\u307e\u3084\u8ca1\u653f\u653f\u7b56\u306f\u30a4\u30f3\u30d5\u30ec\u7387\u3092\u4e0a\u6607\u3055\u305b\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u3068\u3044\u3046\u3053\u3068\u304c\u826f\u304b\u308c\u60aa\u304b\u308c\u8a3c\u660e\u3055\u308c\u3066\u3057\u307e\u3063\u305f\u3002\u3067\u3042\u308c\u3070\u3001\u30a4\u30f3\u30d5\u30ec\u76ee\u6a19\u306b2%\u306e\u4f59\u88d5\u3092\u6301\u3063\u3066\u304a\u304f\u5fc5\u8981\u306f\u306a\u3044\u3068\u3044\u3046\u8b70\u8ad6\u304c\u51fa\u6765\u308b\u306e\u3067\u306f\u306a\u3044\u304b\uff1f\u3000\u3053\u3046\u3057\u305f\u8b70\u8ad6\u306b\u3064\u3044\u3066\u3069\u3046\u601d\u3044\u307e\u3059\u304b\uff1f<\/p>\n<\/blockquote>\n\n\n\n<p>\u304a\u5206\u304b\u308a\u3060\u308d\u3046\u304b\u3002<\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u304c\u9042\u306b\u5f15\u304d\u8d77\u3053\u3057\u3066\u3057\u307e\u3063\u305f\u30a4\u30f3\u30d5\u30ec\u306f\u3001\u8907\u6570\u306e\u610f\u5473\u3067\u30ea\u30d5\u30ec\u6d3e\u306b\u3068\u3063\u3066\u6253\u6483\u3060\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u307e\u305a1\u3064\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u8d77\u3053\u3089\u306a\u3044\u9650\u308a\u3044\u304f\u3089\u3067\u3082\u7de9\u548c\u3092\u7d9a\u3051\u3066\u826f\u3044\u3068\u3044\u3046\u306e\u304c\u5f7c\u3089\u306e\u4e3b\u5f35\u3060\u3063\u305f\u3002\u3060\u304c\u30a4\u30f3\u30d5\u30ec\u304c\u8d77\u3053\u3063\u3066\u3057\u307e\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u30ea\u30d5\u30ec\u6d3e\u306e\u983c\u307f\u306e\u7db1\u304c\u30c7\u30d5\u30ec\u3060\u3063\u305f\u3068\u3044\u3046\u4e8b\u5b9f\u306f\u76ae\u8089\u3060\u304c\u3001\u767d\u5ddd\u6c0f\u306e\u6307\u6458\u306b\u3088\u308c\u3070\u5f7c\u3089\u3078\u306e\u6253\u6483\u306f\u3082\u30461\u3064\u3042\u308b\u3002\u8ca1\u653f\u653f\u7b56\u3067\u30a4\u30f3\u30d5\u30ec\u304c\u5f15\u304d\u8d77\u3053\u305b\u308b\u306a\u3089\u3070\u3001\u91d1\u5229\u304c\u30bc\u30ed\u4ee5\u4e0b\u306b\u306a\u3089\u306a\u3044\u3053\u3068\u3092\u7406\u7531\u306b\u30a4\u30f3\u30d5\u30ec\u76ee\u6a19\u3092\u4f59\u88d5\u3092\u3082\u3063\u30662%\u306b\u3057\u3066\u304a\u304f\u3068\u3044\u3046\u30ea\u30d5\u30ec\u6d3e\u306e\u8b70\u8ad6\u304c\u6839\u62e0\u3092\u5931\u3046\u3002<\/p>\n\n\n\n<p><strong>\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u56de\u7b54<\/strong><\/p>\n\n\n\n<p>\u3053\u306e\u767d\u5ddd\u6c0f\u306e\u6307\u6458\u306f\u79c0\u9038\u3067\u3042\u308b\u3002\u30ea\u30d5\u30ec\u6d3e\u306b\u3076\u3064\u3051\u305f\u306a\u3089\u3070\u5f7c\u3089\u306f\u3046\u308d\u305f\u3048\u308b\u3060\u308d\u3046\u304c\u3001\u6b8b\u5ff5\u306a\u304c\u3089\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u30ea\u30d5\u30ec\u6d3e\u3067\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3067\u306f\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u3069\u306e\u3088\u3046\u306b\u53cd\u5fdc\u3057\u305f\u304b\u3002\u5f7c\u306f\u6b21\u306e\u3088\u3046\u306b\u7b54\u3048\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u305d\u306e\u8b70\u8ad6\u306f\u8208\u5473\u6df1\u3044\u3002\u4e3b\u6d41\u306a\u8b70\u8ad6\u306e\u307b\u3068\u3093\u3069\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u76ee\u6a19\u3092\u5f15\u304d\u4e0a\u3052\u308b\u3079\u304d\u3060\u3068\u3044\u3046\u3082\u306e\u3060\u3002\u305d\u3046\u3044\u3046\u8b70\u8ad6\u306f\u3001\u666f\u6c17\u5f8c\u9000\u306f\u8f9b\u3044\u3001\u666f\u6c17\u5f8c\u9000\u306f\u5acc\u3060\u3068\u8003\u3048\u308b\u4eba\u3005\u304b\u3089\u51fa\u3066\u304d\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3042\u306a\u305f\u306f\u9055\u3046\u3053\u3068\u3092\u8003\u3048\u3066\u3044\u308b\u3002\u8ca1\u653f\u653f\u7b56\u304c\u4e07\u80fd\u306e\u7269\u4fa1\u5b89\u5b9a\u30c4\u30fc\u30eb\u3067\u3001\u653f\u7b56\u6c7a\u5b9a\u8005\u304c\u305d\u308c\u3092\u4f7f\u3046\u610f\u5fd7\u3092\u793a\u3059\u306e\u3067\u3042\u308c\u3070\u3001\u30a4\u30f3\u30d5\u30ec\u76ee\u6a19\u306f2%\u3067\u306f\u306a\u304f1.5%\u3067\u3082\u826f\u3044\u306e\u3067\u306f\u306a\u3044\u304b\u3068\u3044\u3046\u3053\u3068\u3060\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u8b70\u8ad6\u3092\u8a66\u3057\u3066\u307f\u308b\u305f\u3081\u306b\u3042\u306a\u305f\u3092\u7c73\u56fd\u8b70\u4f1a\u306b\u62db\u5f85\u3057\u3088\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u6700\u5f8c\u306e\u90e8\u5206\u306f\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u5197\u8ac7\u3060\u3002\u75db\u307f\u3092\u53d7\u3051\u5165\u308c\u305f\u304f\u306a\u3044\u305f\u3081\u306b\u30a4\u30f3\u30d5\u30ec\u76ee\u6a19\u3092\u4e0a\u3052\u3088\u3046\u3068\u3057\u3066\u3044\u308b\u653f\u6cbb\u5bb6\u305f\u3061\u306b\u3001\u30a4\u30f3\u30d5\u30ec\u76ee\u6a19\u3092\u4e0b\u3052\u308b\u8a71\u3092\u3059\u308c\u3070\u3069\u3046\u306a\u308b\u304b\u3068\u3044\u3046\u30b8\u30e7\u30fc\u30af\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u3001\u4e00\u901a\u308a\u5197\u8ac7\u3092\u8a00\u3063\u305f\u5f8c\u3001\u6b21\u306e\u3088\u3046\u306b\u672c\u97f3\u3092\u8a71\u3057\u59cb\u3081\u305f\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u3053\u306e\u4ef6\u306b\u95a2\u3059\u308b\u308f\u305f\u3057\u306e\u672c\u97f3\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u306b\u6570\u5024\u76ee\u6a19\u3092\u63b2\u3052\u305f\u3053\u3068\u304c\u305d\u3082\u305d\u3082\u9593\u9055\u3044\u3060\u3068\u3044\u3046\u3053\u3068\u3060\u3002<\/p>\n\n\n\n<p>\u30dd\u30fc\u30eb\u30fb\u30dc\u30eb\u30ab\u30fc\u6c0f\u3068\u30a2\u30e9\u30f3\u30fb\u30b0\u30ea\u30fc\u30f3\u30b9\u30d1\u30f3\u6c0f\u306f\u3001\u30ae\u30ea\u30b7\u30e3\u306e\u795e\u8a17\u304c\u7406\u89e3\u3057\u3066\u3044\u305f\u3053\u3068\u3092\u7406\u89e3\u3057\u3066\u3044\u305f\u3002\u3064\u307e\u308a\u3001\u8ab0\u3082\u304c\u3042\u306a\u305f\u306e\u3053\u3068\u3092\u5168\u77e5\u5168\u80fd\u3060\u3068\u601d\u3063\u3066\u3044\u308b\u72b6\u6cc1\u4e0b\u3067\u306f\u3001\u66d6\u6627\u306b\u558b\u308a\u3001\u3042\u307e\u308a\u558b\u3089\u305a\u3001\u9810\u8a00\u8005\u306e\u3088\u3046\u306b\u632f\u308b\u821e\u3046\u3079\u304d\u3060\u3002\u305d\u3046\u3059\u308c\u3070\u81ea\u5206\u306e\u5e7b\u60f3\u3092\u7dad\u6301\u3059\u308b\u3053\u3068\u304c\u51fa\u6765\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u304c\u6570\u5024\u76ee\u6a19\u3092\u8a2d\u5b9a\u3057\u305f\u308a\u3001\u81ea\u5206\u306e\u5c06\u6765\u306e\u884c\u52d5\u3092\u5ba3\u8a00\u3057\u305f\u308a\u3059\u3079\u304d\u3067\u306a\u3044\u7406\u7531\u3060\u3002\u3082\u3057\u3042\u306a\u305f\u304c\u672c\u5f53\u306b\u512a\u308c\u305f\u4eba\u7269\u3067\u3082\u3001\u305d\u308c\u3067\u3082\u5927\u3044\u306b\u8aa4\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u8b70\u8ad6\u306f\u3042\u308b\u610f\u5473\u3067\u306f\u7684\u3092\u5c04\u3066\u3044\u308b\u306e\u3060\u304c\u3001\u3057\u304b\u3057\u3053\u306e\u56de\u7b54\u306f\u767d\u5ddd\u6c0f\u306e\u8cea\u554f\u306b\u7b54\u3048\u3089\u308c\u3066\u3044\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u767d\u5ddd\u6c0f\u306e\u8ad6\u70b9\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u76ee\u6a19\u3092\u516c\u8a00\u3059\u308b\u3079\u304d\u304b\u3069\u3046\u304b\u3067\u306f\u306a\u304f\u3001\u305d\u3082\u305d\u3082\u4e2d\u592e\u9280\u884c\u306f\u3069\u306e\u3088\u3046\u306a\u30a4\u30f3\u30d5\u30ec\u7387\u3092\u76ee\u6307\u3059\u3079\u304d\u304b\u3068\u3044\u3046\u3082\u306e\u3060\u304b\u3089\u3060\u3002<\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u76ee\u6a19\u3092\u6570\u5024\u3067\u516c\u8a00\u3057\u306a\u304f\u3066\u3082\u3001\u76ee\u6307\u3059\u3079\u304d\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u3042\u308b\u306f\u305a\u3060\u3002\u305d\u3057\u3066\u305d\u308c\u304c2%\u3067\u3042\u308b\u6839\u62e0\u306f\u306a\u3044\u3002\u305d\u308c\u304c\u767d\u5ddd\u6c0f\u306e\u8ad6\u70b9\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u81ea\u5206\u306e\u56de\u7b54\u306e\u5f31\u3055\u3092\u81ea\u899a\u3057\u3066\u3044\u305f\u306e\u304b\u3001\u6b21\u306e\u3088\u3046\u306b\u7d9a\u3051\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u3042\u306a\u305f\u306e\u8b70\u8ad6\u306f\u610f\u5473\u3042\u308b\u3082\u306e\u3060\u3002\u305d\u308c\u306f\u308f\u305f\u3057\u304c\u3053\u308c\u307e\u3067\u306b\u3042\u307e\u308a\u8003\u3048\u305f\u3053\u3068\u306e\u306a\u3044\u8ad6\u70b9\u3092\u6307\u6458\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u76ee\u6a19\u3092\u8a2d\u5b9a\u3059\u308b\u3068\u3044\u3046\u524d\u63d0\u3067\u8a71\u3057\u305f\u5834\u5408\u3001\u73fe\u5728\u306e\u76ee\u6a19\u5024\u306f\u300115\u5e74\u304b20\u5e74\u524d\u306e\u6b63\u3057\u3044\u3068\u3055\u308c\u3066\u3044\u305f\u76ee\u6a19\u5024\u3088\u308a\u3082\u9ad8\u304f\u306a\u308b\u3079\u304d\u306a\u306e\u304b\u3069\u3046\u304b\u306f\u3001\u5b8c\u5168\u306b\u81ea\u660e\u306a\u3053\u3068\u3067\u306f\u306a\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3064\u307e\u308a\u3001\u767d\u5ddd\u6c0f\u306e\u8ad6\u70b9\u304c\u30b5\u30de\u30fc\u30ba\u6c0f\u306b\u3068\u3063\u3066\u76f2\u70b9\u3068\u306a\u3063\u3066\u3044\u305f\u8ad6\u70b9\u3067\u3042\u3063\u305f\u305f\u3081\u306b\u3001\u982d\u306e\u4e2d\u306b\u6574\u7406\u3055\u308c\u305f\u56de\u7b54\u3092\u6301\u3061\u5408\u308f\u305b\u3066\u304a\u3089\u305a\u3001\u8ad6\u70b9\u3092\u305a\u3089\u3057\u3066\u56de\u7b54\u3059\u308b\u307b\u304b\u306a\u304b\u3063\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u306f\u3001\u65e5\u672c\u306e\u91d1\u878d\u5bb6\u304c\u73fe\u5f79\u6700\u9ad8\u306e\u30de\u30af\u30ed\u7d4c\u6e08\u5b66\u8005\u3067\u3042\u308b\u30b5\u30de\u30fc\u30ba\u6c0f\u3068\u5bfe\u7b49\u4ee5\u4e0a\u306b\u6e21\u308a\u5408\u3063\u305f\u3001\u306a\u304b\u306a\u304b\u7a00\u6709\u306a\u77ac\u9593\u3067\u3042\u308b\u3002\u3053\u308c\u306f\u73fe\u7dcf\u88c1\u306e\u690d\u7530\u6c0f\u306b\u5bfe\u3059\u308b\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u30b3\u30e1\u30f3\u30c8\u3068\u306f\u5bfe\u7167\u7684\u3067\u3042\u308b\u3002\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u690d\u7530\u6c0f\u306b\u3064\u3044\u3066\u6b21\u306e\u3088\u3046\u306b\u8a00\u3063\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/36397\" data-type=\"post\" data-id=\"36397\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u65e5\u9280\u306e\u690d\u7530\u7dcf\u88c1\u306f\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u304b\u3089\u306e\u96e2\u8131\u30d7\u30ed\u30bb\u30b9\u3092\u958b\u59cb\u3057\u305f<\/a><\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u690d\u7530\u6c0f\u306f\u65e5\u672c\u306e\u30d9\u30f3\u30fb\u30d0\u30fc\u30ca\u30f3\u30ad\u306e\u3088\u3046\u306a\u4eba\u3060\u3068\u8003\u3048\u3089\u308c\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u30d9\u30f3\u3068\u307b\u307c\u540c\u3058\u6642\u671f\u306bMIT\u3067\u5b66\u3073\u3001\u8ad6\u6587\u30a2\u30c9\u30d0\u30a4\u30b6\u30fc\u3082\u30d9\u30f3\u3068\u540c\u3058\u3060\u3063\u305f\u3002\u91d1\u878d\u7d4c\u6e08\u5b66\u306e\u4f3c\u305f\u5206\u91ce\u3092\u5c02\u9580\u3068\u3057\u3001\u540c\u3058\u3088\u3046\u306b\u5b66\u8005\u306e\u30bd\u30d5\u30c8\u306a\u8a9e\u308a\u53e3\u306a\u304c\u3089\u3001\u6c7a\u65ad\u529b\u3082\u6301\u3063\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u897f\u6d0b\u4eba\u306e\u8a9e\u308a\u53e3\u3092\u77e5\u3063\u3066\u3044\u308b\u4eba\u3067\u3042\u308c\u3070\u3001\u30b5\u30de\u30fc\u30ba\u6c0f\u304c\u767d\u5ddd\u6c0f\u3068\u690d\u7530\u6c0f\u306e\u3069\u3061\u3089\u3092\u8a55\u4fa1\u3057\u305f\u304b\u306f\u660e\u3089\u304b\u3060\u3002<\/p>\n\n\n\n<p>\u690d\u7530\u6c0f\u306b\u5bfe\u3059\u308b\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u30b3\u30e1\u30f3\u30c8\u306f\u3001\u3088\u304f\u77e5\u3089\u306a\u3044\u4eba\u306b\u5bfe\u3059\u308b\u4e2d\u8eab\u306e\u306a\u3044\u4e16\u8f9e\u3067\u3042\u308b\u3002\u65e5\u672c\u304c\u30a2\u30e1\u30ea\u30ab\u3092\u8ffd\u3044\u629c\u304f\u304b\u3068\u8a00\u308f\u308c\u305f\u30d0\u30d6\u30eb\u306e\u9803\u306b\u306f\u3001\u30a2\u30e1\u30ea\u30ab\u4eba\u306f\u3088\u304f\u65e5\u672c\u4eba\u3092\u6279\u5224\u3057\u305f\u3002\u4eca\u3067\u306f\u30a2\u30e1\u30ea\u30ab\u4eba\u306f\u4e2d\u56fd\u4eba\u3092\u6279\u5224\u3059\u308b\u304c\u3001\u65e5\u672c\u4eba\u3092\u6279\u5224\u3059\u308b\u3053\u3068\u306f\u5c11\u306a\u3044\u3002\u5f8c\u8005\u306f\u8105\u5a01\u306b\u306a\u3089\u306a\u3044\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4e00\u65b9\u3067\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u767d\u5ddd\u6c0f\u306e\u8cea\u554f\u306b\u5bfe\u3057\u3066\u304a\u8336\u3092\u6fc1\u3059\u3057\u304b\u306a\u304b\u3063\u305f\u3002\u767d\u5ddd\u6c0f\u306f\u60f3\u5b9a\u3057\u305f\u8b70\u8ad6\u304c\u51fa\u6765\u306a\u304f\u3066\u4e0d\u6e80\u3060\u3063\u305f\u3060\u308d\u3046\u304c\u3001\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u3053\u306e\u53cd\u5fdc\u81ea\u4f53\u304c\u8cdb\u8f9e\u3060\u3068\u601d\u3046\u3079\u304d\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u4e8b\u5b9f\u3001\u767d\u5ddd\u6c0f\u306e\u3053\u306e\u8cea\u554f\u306f\u3001\u308f\u305f\u3057\u304c\u3053\u308c\u307e\u3067\u306b\u805e\u3044\u305f\u3001\u4e2d\u592e\u9280\u884c\u5bb6\u306e\u53e3\u304b\u3089\u51fa\u305f\u8003\u3048\u306e\u4e2d\u3067\u3001\u4e00\u756a\u307e\u3068\u3082\u3060\u3063\u305f\u304b\u3082\u3057\u308c\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u73fe\u8077\u306e\u690d\u7530\u6c0f\u304c\u3001\u5e73\u51e1\u3067\u306f\u3042\u308a\u306a\u304c\u3089\u6700\u4f4e\u9650\u306e\u30de\u30af\u30ed\u7d4c\u6e08\u5b66\u8005\u3068\u3057\u3066\u306e\u77e5\u8b58\u304c\u3042\u308b\u3053\u3068\u3082\u8003\u3048\u308b\u3068\u3001\u65e5\u9280\u306f\u30ce\u30fc\u30d1\u30f3\u3057\u3083\u3076\u3057\u3083\u3076\u7701\u51fa\u8eab\u306e\u9ed2\u7530\u306a\u306b\u304c\u3057\u304c\u7279\u5225\u306b\u7121\u80fd\u3060\u3063\u305f\u3060\u3051\u3067\u3001\u672c\u5f53\u306f\u3082\u3046\u5c11\u3057\u307e\u3068\u3082\u306a\u306e\u304b\u3082\u3057\u308c\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/29198\" data-type=\"post\" data-id=\"29198\">\u5229\u4e0a\u3052\u3067\u9810\u91d1\u8005\u306f\u30a4\u30f3\u30d5\u30ec\u304b\u3089\u8cc7\u7523\u9632\u885b\u3067\u304d\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u65e5\u9280\u304c\u5229\u4e0a\u3052\u3092\u884c\u308f\u306a\u3044\u7406\u7531<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u3055\u3066\u3001\u3053\u308c\u307e\u3067\u30a2\u30e1\u30ea\u30ab\u306e\u5143\u8ca1\u52d9\u9577\u5b98\u3067\u7d4c\u6e08\u5b66\u8005\u306e\u30e9\u30ea\u30fc\u30fb\u30b5\u30de\u30fc\u30ba\u6c0f\u306ePeterson Institute for International Economics\u306b\u304a\u3051\u308b\u8b1b\u6f14\u306e\u5185\u5bb9\u3092\u5831\u3058\u3066\u304d\u305f\u304c\u3001\u5b9f\u306f\u3053\u306e\u8b1b\u6f14\u306b\u9ed2\u7530\u6c0f\u306e\u524d\u306b\u65e5 &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/38086\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u65e5\u9280\u306e\u767d\u5ddd\u5143\u7dcf\u88c1\u304c\u7d4c\u6e08\u5b66\u8005\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u8b1b\u6f14\u3067\u975e\u5e38\u306b\u8208\u5473\u6df1\u3044\u8cea\u554f\u3092\u3057\u3066\u3044\u305f<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[118,108],"tags":[98],"class_list":["post-38086","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-bond-markets","tag-larry-summers"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/38086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/comments?post=38086"}],"version-history":[{"count":55,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/38086\/revisions"}],"predecessor-version":[{"id":38149,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/38086\/revisions\/38149"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=38086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=38086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=38086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}