{"id":68525,"date":"2025-07-28T20:00:00","date_gmt":"2025-07-28T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=68525"},"modified":"2025-07-28T16:35:58","modified_gmt":"2025-07-28T07:35:58","slug":"%e3%83%8d%e3%82%a4%e3%83%94%e3%82%a2%e6%b0%8f-%e3%83%88%e3%83%a9%e3%83%b3%e3%83%97%e5%a4%a7%e7%b5%b1%e9%a0%98%e3%81%ae%e6%94%bf%e7%ad%96%e3%81%8c%e4%b8%96%e7%95%8c%e7%9a%84%e3%81%aa%e7%b1%b3%e5%9b%bd","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/68525","title":{"rendered":"\u30cd\u30a4\u30d4\u30a2\u6c0f: \u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u306e\u653f\u7b56\u304c\u4e16\u754c\u7684\u306a\u7c73\u56fd\u682a\u3068\u7c73\u56fd\u50b5\u306e\u58f2\u308a\u3092\u5f15\u304d\u8d77\u3053\u3059"},"content":{"rendered":"\n<p>The Solid Ground Newsletter\u306e\u30e9\u30c3\u30bb\u30eb\u30fb\u30cd\u30a4\u30d4\u30a2\u6c0f\u304c\u3001Resolution Foundation\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3001\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u306e\u5916\u4ea4\u653f\u7b56\u304c\u3082\u305f\u3089\u3059\u7d50\u679c\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u5916\u8ca8\u6e96\u5099\u3068\u3057\u3066\u306e\u30c9\u30eb<\/strong><\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u8d64\u5b57\u3092\u6182\u616e\u3057\u3066\u3044\u308b\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306f\u591a\u3044\u3002\u30b3\u30ed\u30ca\u5f8c\u306e\u91d1\u5229\u4e0a\u6607\u3067\u7c73\u56fd\u50b5\u306e\u5229\u56de\u308a\u304c\u8ca1\u653f\u8d64\u5b57\u306e\u534a\u5206\u306b\u307e\u3067\u5897\u5927\u3057\u3066\u304a\u308a\u3001\u3053\u306e\u307e\u307e\u3067\u306f\u7c73\u56fd\u50b5\u306e\u767a\u884c\u91cf\u306e\u5897\u52a0\u304c\u6b62\u307e\u3089\u305a\u3001\u7c73\u56fd\u50b5\u304c\u8cb7\u3044\u624b\u4e0d\u8db3\u3067\u4e0b\u843d\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/67944\" data-type=\"post\" data-id=\"67944\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: \u7c73\u56fd\u50b5\u66b4\u843d\u304c\u56de\u907f\u3055\u308c\u308b\u53ef\u80fd\u6027\u306f5%<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304c\u30cd\u30a4\u30d4\u30a2\u6c0f\u306f\u307e\u305f\u5225\u306e\u89b3\u70b9\u304b\u3089\u7c73\u56fd\u50b5\u3092\u773a\u3081\u3066\u3044\u308b\u3002\u56fd\u969b\u7684\u306a\u8cc7\u91d1\u306e\u6d41\u308c\u3001\u7279\u306b\u3053\u308c\u307e\u3067\u7c73\u56fd\u50b5\u3092\u5927\u91cf\u306b\u8cb7\u3063\u3066\u304d\u305f\u56fd\u304c\u4f55\u51e6\u304b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30cd\u30a4\u30d4\u30a2\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\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>\u73fe\u5728\u306e\u4e16\u754c\u306e\u91d1\u878d\u30c8\u30ec\u30f3\u30c9\u306f1994\u5e74\u306b\u3001\u4e2d\u56fd\u304c\u83ab\u5927\u306a\u8cbf\u6613\u9ed2\u5b57\u3092\u5148\u9032\u56fd\u306e\u50b5\u5238\u5e02\u5834\u306b\u6ce8\u304e\u8fbc\u3093\u3060\u3053\u3068\u304b\u3089\u59cb\u307e\u3063\u305f\u3002\u7279\u306b\u30a2\u30e1\u30ea\u30ab\u306e\u50b5\u5238\u5e02\u5834\u306b\u3060\u304c\u3001\u30a2\u30e1\u30ea\u30ab\u306b\u9650\u3063\u3066\u3044\u305f\u308f\u3051\u3067\u306f\u306a\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3053\u308c\u307e\u3067\u7c73\u56fd\u50b5\u306e\u5927\u304d\u306a\u8cb7\u3044\u624b\u3060\u3063\u305f\u56fd\u306f\u3001\u4f8b\u3048\u3070\u4e2d\u56fd\u3067\u3042\u308b\u3002\u4e2d\u56fd\u306f1990\u5e74\u4ee5\u6765\u3001\u8f38\u51fa\u3067\u5132\u3051\u305f\u5916\u8ca8\u3092\u81ea\u56fd\u901a\u8ca8\u306b\u4e21\u66ff\u3059\u308b\u3053\u3068\u306a\u304f\u3001\u30c9\u30eb\u306e\u307e\u307e\u4fdd\u6709\u3057\u3066\u304d\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u306f\u30a2\u30e1\u30ea\u30ab\u306b\u3068\u3063\u3066\u3001\u56fd\u5916\u306b\u5927\u304d\u306a\u7c73\u56fd\u50b5\u306e\u8cb7\u3044\u624b\u304c\u751f\u307e\u308c\u305f\u3053\u3068\u306b\u7b49\u3057\u304b\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u4e00\u65b9\u3067\u3001\u30c9\u30eb\u3084\u7c73\u56fd\u50b5\u3092\u5927\u91cf\u8cfc\u5165\u3057\u3066\u304d\u305f\u56fd\u306f\u4e2d\u56fd\u3060\u3051\u3067\u306f\u306a\u3044\u3002\u30cd\u30a4\u30d4\u30a2\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\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>1998\u5e74\u306b\u30a2\u30b8\u30a2\u901a\u8ca8\u5371\u6a5f\u304c\u8d77\u3053\u308a\u3001\u305d\u308c\u304c\u53ce\u675f\u3059\u308b\u3068\u3001\u4ed6\u306e\u591a\u304f\u306e\u30a2\u30b8\u30a2\u8af8\u56fd\u3082\u540c\u3058\u3053\u3068\u3092\u59cb\u3081\u305f\u3002<\/p>\n\n\n\n<p>\u65e5\u672c\u3084\u30b9\u30a4\u30b9\u3084\u30ce\u30eb\u30a6\u30a7\u30fc\u306a\u3069\u306e\u56fd\u3082\u591a\u304f\u306e\u5916\u8ca8\u6e96\u5099\u3092\u7a4d\u307f\u4e0a\u3052\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u5916\u8ca8\u6e96\u5099\u306f\u8ca1\u653f\u7684\u5065\u5168\u3055\u306e\u8a3c\u660e\u3067\u3082\u3042\u3063\u305f\u3002\u81ea\u56fd\u901a\u8ca8\u304c\u4e0b\u843d\u3057\u3066\u3082\u3001\u5916\u8ca8\u6e96\u5099\u3092\u58f2\u3063\u3066\u81ea\u56fd\u901a\u8ca8\u3092\u8cb7\u3044\u652f\u3048\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u8ca1\u653f\u306b\u4f59\u88d5\u306e\u3042\u308b\u56fd\u306f\u5916\u8ca8\u6e96\u5099\u3092\u84c4\u3048\u305f\u3057\u3001\u4f59\u88d5\u306e\u306a\u3044\u56fd\u3082\u3067\u304d\u308b\u3060\u3051\u5916\u8ca8\u6e96\u5099\u3092\u7a4d\u307f\u4e0a\u3052\u3066\u5371\u6a5f\u306b\u5099\u3048\u3088\u3046\u3068\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u3053\u308c\u307e\u3067\u306e\u4e16\u754c\u3067\u306f\u3001\u7a4d\u307f\u4e0a\u3052\u3089\u308c\u308b\u5916\u8ca8\u6e96\u5099\u306f\u7121\u6761\u4ef6\u3067\u30c9\u30eb\u3060\u3063\u305f\u3002<\/p>\n\n\n\n<p><strong>\u30c9\u30eb\u8cb7\u3044\u3068\u4f4e\u91d1\u5229<\/strong><\/p>\n\n\n\n<p>\u305d\u3046\u3057\u3066\u4e16\u754c\u4e2d\u306e\u56fd\u3005\u304c\u30c9\u30eb\u3092\u8cb7\u3063\u305f\u3002\u30c9\u30eb\u9810\u91d1\u3092\u9810\u3051\u3089\u308c\u305f\u9280\u884c\u306f\u305d\u306e\u30c9\u30eb\u3067\u7c73\u56fd\u50b5\u3092\u8cb7\u3046\u306e\u3067\u3001\u305d\u308c\u306f\u4e16\u754c\u4e2d\u306e\u56fd\u3005\u304c\u7c73\u56fd\u50b5\u3092\u8cb7\u3044\u652f\u3048\u3066\u3044\u305f\u3053\u3068\u306b\u7b49\u3057\u3044\u3002<\/p>\n\n\n\n<p>\u56fd\u50b5\u306f\u4fa1\u683c\u304c\u4e0a\u304c\u308c\u3070\u91d1\u5229\u304c\u4e0b\u304c\u308b\u3002\u3060\u304b\u3089\u305d\u308c\u3089\u306e\u8cc7\u91d1\u306f\u30a2\u30e1\u30ea\u30ab\u306e\uff08\u305d\u3057\u3066\u540c\u3058\u3088\u3046\u306b\u56fd\u50b5\u304c\u8cb7\u308f\u308c\u305f\u4ed6\u306e\u5148\u9032\u56fd\u306e\uff09\u4f4e\u91d1\u5229\u3092\u4fc3\u9032\u3059\u308b\u3053\u3068\u306b\u306a\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u30cd\u30a4\u30d4\u30a2\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8a00\u3063\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>\u7d50\u679c\u3068\u3057\u3066\u3001\u5148\u9032\u56fd\u3067\u306f\u7d4c\u6e08\u6210\u9577\u7387\u306b\u5bfe\u3057\u3066\u91d1\u5229\u304c\u4f4e\u304f\u4fdd\u305f\u308c\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u4e16\u754c\u5404\u56fd\u306e\u30c9\u30eb\u8cb7\u3044\u304c\u30a2\u30e1\u30ea\u30ab\u306e\u4f4e\u91d1\u5229\u3092\u4fc3\u9032\u3057\u305f\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u305d\u306e\u8cc7\u91d1\u306f\u4f4e\u91d1\u5229\u306b\u3088\u3063\u3066\u5f15\u304d\u8d77\u3053\u3055\u308c\u305f\u73fe\u8c61\u3092\u3082\u5f15\u304d\u8d77\u3053\u3057\u305f\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u306f\u7c73\u56fd\u682a\u306e\u4e0a\u6607\u3067\u3042\u308b\u3002\u30cd\u30a4\u30d4\u30a2\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u6307\u6458\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>\u7c73\u56fd\u682a\u306e\u9577\u671f\u7684\u306a\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u306e\u6307\u6a19\u3092\u898b\u308c\u3070\u30011990\u5e74\u4ee3\u534a\u3070\u306b\u4f55\u304b\u304c\u8d77\u3053\u3063\u305f\u3053\u3068\u304c\u5206\u304b\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30cd\u30a4\u30d4\u30a2\u6c0f\u304c\u6307\u6458\u3057\u3066\u3044\u308b\u306e\u306f\u30011990\u5e74\u4ee3\u304b\u3089\u7c73\u56fd\u682a\u306e\u4e0a\u6607\u304c\u5927\u304d\u304f\u306a\u3063\u3066\u3044\u308b\u3053\u3068\u3067\u3042\u308b\u30021990\u5e74\u4ee3\u306f2000\u5e74\u306e\u30c9\u30c3\u30c8\u30b3\u30e0\u30d0\u30d6\u30eb\u5d29\u58ca\u306b\u7e4b\u304c\u308b\u6642\u671f\u3060\u304c\u3001\u7c73\u56fd\u682a\u304c\u305d\u308c\u3060\u3051\u4e0a\u304c\u3063\u305f\u3068\u3044\u3046\u3053\u3068\u306e\u8a3c\u660e\u3067\u3082\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u7c73\u56fd\u682a\u306f\u305d\u306e\u5f8c\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u3082\u4e2d\u592e\u9280\u884c\u306e\u7d19\u5e63\u5370\u5237\u3067\u4e57\u308a\u8d8a\u3048\u3001\u4e16\u754c\u306e\u682a\u5f0f\u5e02\u5834\u3067\u7c73\u56fd\u682a\u4e00\u5f37\u3068\u3082\u8a00\u3048\u308b\u72b6\u6cc1\u3092\u5f62\u6210\u3057\u3066\u3086\u304f\u3002<\/p>\n\n\n\n<p><strong>\u30c9\u30eb\u8cc7\u7523\u4e0a\u6607\u306e\u7406\u7531<\/strong><\/p>\n\n\n\n<p>\u3053\u3053\u3067\u91cd\u8981\u306a\u306e\u306f\u3001\u30a2\u30e1\u30ea\u30ab\u304c\u3069\u308c\u3060\u3051\u7d19\u5e63\u5370\u5237\u3057\u3066\u3082\u3001\u7c73\u56fd\u50b5\u306e\u91d1\u5229\u304c\u3069\u308c\u3060\u3051\u5fae\u3005\u305f\u308b\u3082\u306e\u306b\u306a\u3063\u3066\u3082\u3001\u8af8\u5916\u56fd\u306f\u30c9\u30eb\u3068\u7c73\u56fd\u50b5\u3092\u8cb7\u3044\u7d9a\u3051\u3066\u304f\u308c\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u7406\u7531\u306b\u3064\u3044\u3066\u30cd\u30a4\u30d4\u30a2\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8a00\u3063\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>\u5916\u8ca8\u6e96\u5099\u306e\u7a4d\u307f\u4e0a\u3052\u306f\u3001\u8cc7\u7523\u4fa1\u683c\u306e\u6c34\u6e96\u3092\u6c17\u306b\u305b\u305a\u306b\u7d9a\u3051\u308b\u8cc7\u7523\u8cfc\u5165\u3060\u304b\u3089\u3060\u3002<\/p>\n\n\n\n<p>\u8ab0\u3082\u305d\u306e\u56fd\u50b5\u304c\u9ad8\u3044\u304b\u3069\u3046\u304b\u6c17\u306b\u3057\u306a\u304b\u3063\u305f\u3002\u56fd\u50b5\u3092\u8cb7\u3046\u3068\u304d\u3001\u8ab0\u3082\u30a2\u30e1\u30ea\u30ab\u306e\u7d4c\u6e08\u6210\u9577\u7387\u3084\u30a4\u30f3\u30d5\u30ec\u7387\u3001\u30d5\u30e9\u30f3\u30b9\u3084\u30c9\u30a4\u30c4\u304c\u501f\u91d1\u3092\u8fd4\u305b\u308b\u304b\u3069\u3046\u304b\u306a\u3069\u6c17\u306b\u3057\u306a\u304b\u3063\u305f\u3002\u305d\u306e\u56fd\u50b5\u8cfc\u5165\u306f\u81ea\u52d5\u7684\u306b\u7d9a\u3051\u3089\u308c\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u305d\u3057\u3066\u5f53\u7136\u3060\u304c\u3001\u30a2\u30e1\u30ea\u30ab\u3084\u30e8\u30fc\u30ed\u30c3\u30d1\u306a\u3069\u56fd\u50b5\u3092\u8cb7\u308f\u308c\u305f\u5074\u3082\u305d\u308c\u3092\u6b62\u3081\u308b\u3053\u3068\u306f\u306a\u304b\u3063\u305f\u3002\u30cd\u30a4\u30d4\u30a2\u6c0f\u306f\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>\u897f\u5074\u306e\u653f\u6cbb\u5bb6\u305f\u3061\u306f\u4f55\u3082\u6587\u53e5\u3092\u8a00\u308f\u306a\u304b\u3063\u305f\u3002\u897f\u5074\u306b\u3068\u3063\u3066\u3080\u3057\u308d\u5229\u76ca\u304c\u3042\u3063\u305f\u304b\u3089\u3060\u3002\u897f\u5074\u306e\u91d1\u5229\u306f\u672c\u6765\u3088\u308a\u3082\u4f4e\u304f\u306a\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u3082\u307e\u3060\u4f4e\u304b\u3063\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u305d\u306e\u7d50\u679c\u3001\u7c73\u56fd\u50b5\u3084\u7c73\u56fd\u682a\u306a\u3069\u30c9\u30eb\u5efa\u3066\u306e\u8cc7\u7523\u306f\u3069\u3093\u3069\u3093\u5916\u56fd\u4eba\u306b\u8cb7\u308f\u308c\u3066\u3044\u3063\u305f\u3002\u30a2\u30e1\u30ea\u30ab\u304c\u4fdd\u6709\u3059\u308b\u5916\u56fd\u306e\u8cc7\u7523\u304b\u3089\u5916\u56fd\u4eba\u304c\u4fdd\u6709\u3059\u308b\u30a2\u30e1\u30ea\u30ab\u306e\u8cc7\u7523\u3092\u5f15\u3044\u305f\u5bfe\u5916\u7d14\u8cc7\u7523\u306e\u30c1\u30e3\u30fc\u30c8\u306f\u3001\u6b21\u306e\u3088\u3046\u306b\u30de\u30a4\u30ca\u30b9\u5e45\u3092\u62e1\u5927\u3057\u7d9a\u3051\u3066\u304d\u305f\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/02\/2024-3q-us-net-international-investment-position-to-gdp-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"513\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/02\/2024-3q-us-net-international-investment-position-to-gdp-chart.png\" alt=\"\" class=\"wp-image-59537\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/02\/2024-3q-us-net-international-investment-position-to-gdp-chart.png 600w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/02\/2024-3q-us-net-international-investment-position-to-gdp-chart-300x257.png 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/figure>\n\n\n\n<p><strong>\u30a2\u30e1\u30ea\u30ab\u3078\u306e\u8cc7\u91d1\u6d41\u5165\u304c\u9006\u6d41\u3059\u308b<\/strong><\/p>\n\n\n\n<p>\u3055\u3066\u3001\u305d\u308c\u306f\u3059\u3079\u3066\u3001\u4e2d\u56fd\u3084\u30a2\u30b8\u30a2\u8af8\u56fd\u3001\u4e2d\u6771\u8af8\u56fd\u306a\u3069\u306b\u8cbf\u6613\u9ed2\u5b57\u304c\u3042\u3063\u305f\u304b\u3089\u53ef\u80fd\u3060\u3063\u305f\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u306f\u4ed6\u56fd\u306e\u8cbf\u6613\u9ed2\u5b57\u3092\u8a31\u5bb9\u3057\u306a\u3044\u3053\u3068\u3067\u3001\u307e\u3055\u306b\u305d\u306e\u30c8\u30ec\u30f3\u30c9\u3092\u9006\u56de\u3057\u306b\u3057\u3088\u3046\u3068\u3057\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002\u8cbf\u6613\u9ed2\u5b57\u304c\u306a\u3051\u308c\u3070\u3001\u4e2d\u56fd\u306a\u3069\u306f\u3069\u3046\u3084\u3063\u3066\u7c73\u56fd\u50b5\u3092\u8cb7\u3046\u3068\u3044\u3046\u306e\u304b\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u30c9\u30a4\u30c4\u3084\u30a4\u30ae\u30ea\u30b9\u306a\u3069\u8cbf\u6613\u9ed2\u5b57\u306b\u3088\u3063\u3066\u7c73\u56fd\u50b5\u3092\u8cb7\u3063\u3066\u3044\u305f\u308f\u3051\u3067\u306f\u306a\u3044\u30e8\u30fc\u30ed\u30c3\u30d1\u306e\u56fd\u3005\u3082\u3001\u30a2\u30e1\u30ea\u30ab\u304c\u30a6\u30af\u30e9\u30a4\u30ca\u304b\u3089\u624b\u3092\u5f15\u3053\u3046\u3068\u3057\u3066\u3044\u308b\u3053\u3068\u3067\u3001\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u306a\u304f\u81ea\u56fd\u306b\u8cc7\u91d1\u3092\u6295\u8cc7\u3059\u308b\u5fc5\u8981\u6027\u306b\u8feb\u3089\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u30cd\u30a4\u30d4\u30a2\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8a00\u3063\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\u3089\u3086\u308b\u56fd\u304c\u81ea\u56fd\u306e\u7523\u696d\u3092\u6d3b\u6027\u5316\u3055\u305b\u308b\u305f\u3081\u306b\u8cc7\u91d1\u3092\u5fc5\u8981\u3068\u3059\u308b\u3068\u304d\u3001\u305d\u308c\u3089\u306e\u56fd\u306f\u4f55\u3092\u58f2\u308b\u3060\u308d\u3046\u304b\uff1f<\/p>\n\n\n\n<p>\u4e16\u754c\u4e2d\u306e\u8cc7\u91d1\u306f\u81ea\u56fd\u3078\u3068\u623b\u3063\u3066\u3086\u304f\u3002\u305d\u3057\u3066\u305d\u306e\u305f\u3081\u306b\u58f2\u3089\u308c\u308b\u5fc5\u8981\u306e\u3042\u308b\u8cc7\u7523\u306f\u3001\u660e\u3089\u304b\u306b\u30c9\u30eb\u5efa\u3066\u306e\u8cc7\u7523\u3060\u3002\u7c73\u56fd\u682a\u3068\u7c73\u56fd\u50b5\u306e\u4e21\u65b9\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u4e16\u754c\u4e2d\u306e\u56fd\u3005\u304c\u30c9\u30eb\u5efa\u3066\u8cc7\u7523\u3092\u8cb7\u3063\u3066\u304d\u305f\u30c8\u30ec\u30f3\u30c9\u304c\u9006\u6d41\u3057\u3088\u3046\u3068\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u30cd\u30a4\u30d4\u30a2\u6c0f\u306e\u8a71\u306f\u9577\u671f\u7684\u306a\u8cc7\u91d1\u306e\u6d41\u308c\u306e\u8a71\u3067\u3042\u308b\u3002\u4eca\u5e74\u3084\u6765\u5e74\u306e\u7c73\u56fd\u682a\u306e\u52d5\u5411\u3092\u6c7a\u3081\u308b\u8a71\u3067\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u3001\u9577\u671f\u7684\u306a\u8cc7\u91d1\u306e\u6d41\u308c\u306f\u3053\u308c\u307e\u3067\u6570\u5341\u5e74\u306e\u7c73\u56fd\u682a\u306e\u52d5\u304d\u3092\u6c7a\u3081\u3066\u304d\u305f\u3088\u3046\u306b\u3001\u4eca\u5f8c10\u5e7420\u5e74\u306e\u7c73\u56fd\u682a\u306e\u52d5\u5411\u3092\u6c7a\u3081\u3066\u3086\u304f\u3002<\/p>\n\n\n\n<p>\u7c73\u56fd\u682a\u3092\u9577\u671f\u7684\u306b\u8003\u3048\u3066\u3044\u308b\u4eba\u306f\u3001\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u89e3\u8aac\u3057\u3066\u3044\u308b\u3088\u3046\u306a\u3001\u682a\u4fa1\u306b\u5927\u304d\u306a\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u91d1\u5229\u306e\u9577\u671f\u7684\u306a\u52d5\u304d\u3068\u4e00\u7dd2\u306b\u3053\u3046\u3057\u305f\u8cc7\u91d1\u306e\u6d41\u308c\u3092\u8003\u3048\u308b\u5fc5\u8981\u304c\u3042\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/64013\" data-type=\"post\" data-id=\"64013\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: \u7c73\u56fd\u682a\u306f\u904e\u53bb\u306b2\u56de\u300125\u5e74\u9593\u682a\u4fa1\u304c\u4e0a\u304c\u3089\u306a\u304b\u3063\u305f\u4e0b\u843d\u76f8\u5834\u3092\u7d4c\u9a13\u3057\u3066\u3044\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>Bridgewater\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u306f\u8457\u66f8\u300e<a href=\"https:\/\/amzn.to\/3IWcV1T\" target=\"_blank\" rel=\"noreferrer noopener\">\u4e16\u754c\u79e9\u5e8f\u306e\u5909\u5316\u306b\u5bfe\u51e6\u3059\u308b\u305f\u3081\u306e\u539f\u5247<\/a>\u300f\u306b\u304a\u3044\u3066\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u524d\u306b\u8987\u6a29\u56fd\u5bb6\u3060\u3063\u305f\u5927\u82f1\u5e1d\u56fd\u304c\u8870\u9000\u3057\u305f\u3068\u304d\u3001\u305d\u306e\u901a\u8ca8\u30dd\u30f3\u30c9\u3092\u8af8\u5916\u56fd\u304c\u3069\u3093\u3069\u3093\u6295\u3052\u58f2\u308a\u3057\u3066\u3044\u3063\u305f\u6642\u306e\u3053\u3068\u3092\u8a73\u3057\u304f\u89e3\u8aac\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u30c0\u30ea\u30aa\u6c0f\u306f\u30a2\u30e1\u30ea\u30ab\u306b\u3082\u540c\u3058\u3053\u3068\u304c\u8d77\u304d\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u77ed\u671f\u7684\u306a\u7c73\u56fd\u682a\u306e\u52d5\u5411\u4e88\u60f3\u306b\u3064\u3044\u3066\u306f\u3001\u524d\u56de\u306e\u8a18\u4e8b\u3092\u53c2\u8003\u306b\u3057\u3066\u3082\u3089\u3044\u305f\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/68471\" data-type=\"post\" data-id=\"68471\">\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u304c\u91d1\u878d\u7de9\u548c\u3092\u5f37\u884c\u3059\u308c\u3070\u7c73\u56fd\u682a\u306f\u4e0a\u304c\u308b\u306e\u304b\uff1f<\/a><\/li>\n<\/ul>\n\n\n\n<p><a href=\"https:\/\/amzn.to\/3xlpTUc\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/m.media-amazon.com\/images\/I\/81CZHKszf9L._SL160_.jpg\"><\/a><br><a href=\"https:\/\/amzn.to\/3xlpTUc\" target=\"_blank\" rel=\"noreferrer noopener\">\u4e16\u754c\u79e9\u5e8f\u306e\u5909\u5316\u306b\u5bfe\u51e6\u3059\u308b\u305f\u3081\u306e\u539f\u5247<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Solid Ground Newsletter\u306e\u30e9\u30c3\u30bb\u30eb\u30fb\u30cd\u30a4\u30d4\u30a2\u6c0f\u304c\u3001Resolution Foundation\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3001\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u306e\u5916\u4ea4\u653f\u7b56\u304c\u3082\u305f\u3089\u3059\u7d50\u679c\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59,118,111,108],"tags":[202],"class_list":["post-68525","post","type-post","status-publish","format-standard","hentry","category-us-stock-market","category-us-bond-market","category-stock-markets","category-bond-markets","tag-russell-napier"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/68525","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=68525"}],"version-history":[{"count":26,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/68525\/revisions"}],"predecessor-version":[{"id":68554,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/68525\/revisions\/68554"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=68525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=68525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=68525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}