{"id":36822,"date":"2025-09-22T22:14:21","date_gmt":"2025-09-22T14:14:21","guid":{"rendered":"https:\/\/www.kafeizha.com\/?p=36822"},"modified":"2025-09-22T22:14:21","modified_gmt":"2025-09-22T14:14:21","slug":"%e3%80%90%e8%b4%9f%e9%9d%a2%e3%80%91bloomberg%e6%ac%a7%e6%b4%b2%e7%9a%84%e4%b8%ad%e5%9b%bd%e6%a2%a6%e7%a0%b4%e7%81%ad%ef%bc%9a%e6%b3%a2%e5%85%b0%e6%88%90%e6%9b%b4%e5%a4%a7%e5%ae%a2","status":"publish","type":"post","link":"https:\/\/news.tomjun.com\/?p=36822","title":{"rendered":"\u3010\u8d1f\u9762\u3011[bloomberg]\u6b27\u6d32\u7684\u201c\u4e2d\u56fd\u68a6\u201d\u7834\u706d\uff1a\u6ce2\u5170\u6210\u66f4\u5927\u5ba2\u6237"},"content":{"rendered":"<p>\u6211\u662f\u6ce2\u58eb\u987f\u7684\u4e00\u540d\u7ecf\u6d4e\u7f16\u8f91\u3002\u4eca\u5929\uff0c\u6211\u4eec\u5c06\u63a2\u8ba8\u6b27\u6d32\u4e0e\u4e2d\u56fd\u4e4b\u95f4\u7ecf\u6d4e\u5173\u7cfb\u7684\u53d8\u5316\u3002\u6b22\u8fce\u5411\u6211\u4eec\u53d1\u9001\u53cd\u9988\u548c\u5efa\u8bae\u3002<\/p>\n<p>\u591a\u5e74\u6765\uff0c\u4f5c\u4e3a\u6b27\u6d32\u4f01\u4e1a\u5728\u5317\u4eac\u7684\u4ee3\u8a00\u4eba\uff0c\u7ea6\u5c14\u683c\u00b7\u6b66\u7279\u514b\u7684\u4e2d\u56fd\u804c\u4e1a\u751f\u6daf\u53ef\u4ee5\u8ffd\u6eaf\u523020\u4e16\u7eaa80\u5e74\u4ee3\uff0c\u5176\u4e2d\u5305\u62ec\u62c5\u4efb\u5fb7\u56fd\u6700\u5927\u7684\u5316\u5de5\u516c\u53f8\u5df4\u65af\u592b\u7684\u9996\u5e2d\u4ee3\u8868\u957f\u8fbe27\u5e74\u3002\u65e9\u57282010\u5e74\u4ee3\uff0c\u6b66\u7279\u514b\u5c31\u5df2\u7ecf\u5bf9\u897f\u65b9\u516c\u53f8\u5728\u4e2d\u56fd\u7684\u672a\u6765\u611f\u5230\u62c5\u5fe7\u3002\u65f6\u4efb\u6b27\u76df\u4e2d\u56fd\u5546\u4f1a\u4e3b\u5e2d\u7684\u4ed6\u8fc7\u53bb\u5e38\u8bf4\uff0c\u98ce\u9669\u5728\u4e8e\u897f\u65b9\u516c\u53f8\u7ec8\u6709\u4e00\u5929\u4f1a\u53d1\u73b0\u81ea\u5df1\u7f6e\u8eab\u4e8e\u4e00\u9762\u73bb\u7483\u7a97\u540e\uff0c\u773c\u5df4\u5df4\u5730\u671b\u7740\u7e41\u534e\u7684\u56fd\u5185\u5e02\u573a\uff0c\u201c\u9f3b\u5b50\u90fd\u8d34\u5728\u73bb\u7483\u4e0a\u201d\u3002<\/p>\n<p>\u201c\u4eca\u5929\uff0c\u6211\u4eec\u57fa\u672c\u4e0a\u5df2\u7ecf\u5230\u4e86\u90a3\u79cd\u5883\u5730\uff0c\u201d\u6b66\u7279\u514b\u4e0a\u5468\u8868\u793a\uff0c\u4ed6\u73b0\u5728\u662f\u534e\u76db\u987f\u54a8\u8be2\u516c\u53f8\u5965\u5c14\u5e03\u8d56\u7279\u77f3\u6865\u96c6\u56e2\u7684\u5408\u4f19\u4eba\u3002\u201c\u6211\u4eec\u80fd\u770b\u5230\u81ea\u5df1\u5728\u7a97\u6237\u4e0a\u7684\u547c\u5438\u3002\u201d\u4ed6\u6307\u51fa\uff0c\u6b27\u76df\u6210\u5458\u56fd\u5bf9\u4e2d\u56fd\u7684\u51fa\u53e3\u989d\u751a\u81f3\u4e0d\u5982\u5bf9\u6ce2\u5170\u7684\u51fa\u53e3\u989d\uff0c\u800c\u6ce2\u5170\u7684\u56fd\u5185\u751f\u4ea7\u603b\u503c\u4e0d\u5230\u4e2d\u56fd\u76845%\uff0c\u5927\u81f4\u76f8\u5f53\u4e8e\u4e2d\u56fd\u897f\u5357\u90e8\u4e00\u4e2a\u7701\u4efd\u7684\u7ecf\u6d4e\u89c4\u6a21\u3002<\/p>\n<p>\u56fe\u8868\u663e\u793a\uff0c\u6b27\u76df\u5bf9\u4e2d\u56fd\u7684\u51fa\u53e3\u989d\u57282021\u5e74\u8fbe\u5230\u9876\u5cf0\u3002\u6b27\u76df\u9762\u4e34\u7684\u6311\u6218\u4e4b\u4e00\u662f\u4e2d\u56fd\u5236\u9020\u4e1a\u5347\u7ea7\u5230\u6b27\u6d32\u66fe\u7ecf\u65e0\u7591\u66f4\u5177\u7ade\u4e89\u529b\u7684\u9886\u57df\u3002\u7279\u522b\u662f\u6c7d\u8f66\u5de5\u4e1a\u5411\u7535\u52a8\u6c7d\u8f66\u7684\u8f6c\u578b\uff0c\u5df2\u7ecf\u3002<\/p>\n<p>\u4e2d\u56fd\u7684\u603b\u4f53\u6218\u7565\u662f\u521b\u5efa\u5236\u9020\u4e1a\u96c6\u7fa4\uff0c\u5e76\u57f9\u517b\u5176\u4ed6\u7ecf\u6d4e\u4f53\u65e0\u6cd5\u6bd4\u62df\u7684\u5927\u89c4\u6a21\u5de5\u7a0b\u5e08\u3001\u5316\u5b66\u5bb6\u548c\u5176\u4ed6\u5fc5\u8981\u7684 skilled workers\u3002\u6b66\u7279\u514b\u8868\u793a\uff0c\u5982\u4eca\u897f\u65b9\u516c\u53f8\u7559\u5728\u4e2d\u56fd\u7684\u4ef7\u503c\u5728\u4e8e\uff0c\u5e76\u9650\u5236\u4ed6\u4eec\u5728\u63a8\u51fa\u65b0\u4ea7\u54c1\u65b9\u9762\u843d\u540e\u7684\u5e74\u6570\u3002<\/p>\n<p>\u4e0e\u6b64\u540c\u65f6\uff0c\u6b27\u6d32\u4ece\u4e2d\u56fd\u7684\u8fdb\u53e3\u989d\u6b63\u5728\u4e0a\u5347\uff0c\u4f7f\u6b27\u76df\u4eca\u5e74\u9762\u4e34\u5de8\u989d\u8d38\u6613\u9006\u5dee\u3002\u6240\u6709\u8fd9\u4e9b\u90fd\u5fc5\u5c06\u52a0\u5267\u6b27\u76df\u5185\u90e8\u63d0\u9ad8\u5173\u7a0e\u7684\u538b\u529b\u3002\u4e2d\u56fd\u5728\u65b9\u9762\u5bf9\u6b27\u6d32\u7684 leverage \u53ef\u80fd\u4f1a\u4f7f\u8fd9\u4e00\u4e3e\u63aa\u53d8\u5f97\u56f0\u96be\u3002\u4f46\u662f\uff0c\u6b63\u5982\u4ed6\u4eec\u6240\u8bf4\uff0c\u603b\u5f97\u6709\u6240\u6539\u53d8\u3002<\/p>\n<p>\u7f8e\u8054\u50a8\u9996\u9009\u7684\u6838\u5fc3\u901a\u80c0\u6307\u6807\u4e0a\u4e2a\u6708\u53ef\u80fd\u4ee5\u8f83\u6162\u7684\u901f\u5ea6\u589e\u957f\uff0c\u4e3a\u653f\u7b56\u5236\u5b9a\u8005\u63d0\u4f9b\u4e86\u4e00\u4e9b\u5598\u606f\u7a7a\u95f4\uff0c\u4ee5\u89e3\u51b3\u7f8e\u56fd\u52b3\u52a8\u529b\u5e02\u573a\u7684\u75b2\u8f6f\u95ee\u9898\u3002<\/p>\n<p>\u9884\u8ba1\u5468\u4e94\u53d1\u5e03\u7684\u4e00\u4efd\u62a5\u544a\u5c06\u663e\u793a\uff0c8\u6708\u4efd\u4e0d\u5305\u62ec\u98df\u54c1\u548c\u80fd\u6e90\u7684\u4e2a\u4eba\u6d88\u8d39\u652f\u51fa\u4ef7\u683c\u6307\u6570\u4e0a\u6da80.2%\uff0c\u4f4e\u4e8e7\u6708\u4efd\u76840.3%\u3002\u6309\u5e74\u5ea6\u8ba1\u7b97\uff0c\u6240\u8c13\u7684 core measure \u9884\u8ba1\u5c06\u4fdd\u6301\u5728\u4ecd\u7136\u8f83\u9ad8\u76842.9%\u3002<\/p>\n<p>\u6b64\u5916\uff0c\u4e9a\u6d32\u548c\u6b27\u6d32\u7684\u95ea\u901f\u91c7\u8d2d\u7ecf\u7406\u4eba\u6307\u6570\u5c06\u6210\u4e3a\u5173\u6ce8\u7126\u70b9\u3002\u548c\u5308\u7259\u5229\u7684\u653f\u7b56\u5236\u5b9a\u8005\u9884\u8ba1\u5c06\u7ef4\u6301\u5229\u7387\u4e0d\u53d8\uff0c\u800c\u58a8\u897f\u54e5\u548c\u5c3c\u65e5\u5229\u4e9a\u9884\u8ba1\u5c06\u964d\u606f\u3002\u6709\u5173\u672c\u5468\u5269\u4f59\u65f6\u95f4\u7684\u7ecf\u6d4e\u4e8b\u4ef6\uff0c\u8bf7\u53c2\u9605\u3002<\/p>\n<p>\u751f\u6210\u5f0f\u4eba\u5de5\u667a\u80fd\u7684\u5174\u8d77\u53ca\u5176\u6f5c\u5728\u7684\u5de8\u989d\u56de\u62a5\u5f15\u53d1\u4e86\u7ecf\u6d4e\u5206\u914d\u95ee\u9898\u3002\u56de\u62a5\u5c06\u4e3b\u8981\u6d41\u5411\u4f01\u4e1a\u6240\u6709\u8005\uff0c\u8fd8\u662f\u6210\u679c\u5c06\u66f4\u5e7f\u6cdb\u5730 spread\uff0c\u4ece\u800c\u5b9e\u73b0\u5e7f\u6cdb\u7684\u63d0\u5347\u3002\u65e5\u672c\u7ecf\u6d4e\u7814\u7a76\u4e2d\u5fc3\u6267\u884c\u7814\u7a76\u4e3b\u4efb\u5927\u4f4f\u9686\uff08Ryu Ohsumi\uff09\u5728\u672c\u6708\u65e9\u4e9b\u65f6\u5019\u7684\u4e00\u7bc7\u4e2d\u63a2\u8ba8\u4e86\u8fd9\u4e9b\u95ee\u9898\u3002<\/p>\n<p>\u5927\u4f4f\u9686\u63d0\u9192\u8bfb\u8005\u4ea8\u5229\u00b7\u798f\u7279 remarkable \u7684\u4e3e\u52a8\uff0c\u5373\u5c06\u6c7d\u8f66\u5de5\u5382\u5de5\u4eba\u7684\u5de5\u8d44\u63d0\u9ad8\u4e00\u500d\u3002\u8fd9\u51cf\u5c11\u4e86\u5458\u5de5\u6d41\u5931\u7387\uff0c\u63d0\u9ad8\u4e86\u751f\u4ea7\u529b\uff0c\u5e76\u6269\u5927\u4e86\u798f\u7279\u4ea7\u54c1\u7684\u5ba2\u6237\u7fa4\u3002\u201c\u5728\u8ba8\u8bba\u653f\u5e9c\u5411\u7a77\u4eba\u2018\u91cd\u65b0\u5206\u914d\u2019\u6536\u5165\u7b49\u5b8f\u89c2\u7ecf\u6d4e\u653f\u7b56\u4e4b\u524d\uff0c\u4f01\u4e1a\u2018\u5206\u914d\u2019\u9886\u57df\u8fd8\u6709\u5f88\u5927\u7684\u884c\u52a8\u7a7a\u95f4\uff0c\u201d\u5927\u4f4f\u9686\u6307\u51fa\u3002\u201c\u5728\u8fd9\u4e2a\u65b0\u7684\u5de5\u4e1a\u9769\u547d\u65f6\u4ee3\u201d\uff0c\u4f01\u4e1a\u9ad8\u7ba1\u5c06\u518d\u6b21\u53d1\u6325\u4f5c\u7528\u3002\u5927\u4f4f\u9686\u8bf4\uff1a\u201c\u6211\u4eec\u9762\u4e34\u7684\u95ee\u9898\u662f\u5982\u4f55\u5728\u5fae\u89c2\u4f01\u4e1a\u5c42\u9762\u4e0a\u5e73\u8861\u751f\u4ea7\u529b\u3002\u201d<\/p>\n<p>\u6311\u6218\u5728\u4e8e\u5f04\u6e05\u695a\u201c\u5982\u4f55\u6839\u636e\u751f\u4ea7\u529b\u7684\u63d0\u9ad8\uff0c\u5c06\u589e\u957f\u7684\u6210\u679c\u5206\u914d\u7ed9\u5de5\u8d44\u589e\u957f\u3001\u80a1\u4e1c\u56de\u62a5\u201d\u4ee5\u53ca\u6295\u8d44\u4e8e\u8fdb\u4e00\u6b65\u7684\u4f01\u4e1a\u6269\u5f20\uff0c\u4ed6\u8bf4\u3002\u201c\u8fd9\u5c06\u6210\u4e3a\u51b3\u5b9a\u4eba\u5de5\u667a\u80fd\u5e26\u6765\u7684\u91cd\u5927\u521b\u65b0\u4ef7\u503c\u7684\u5173\u952e\u3002\u201d<\/p>\n<p>\u559c\u6b22\u300a\u7ecf\u6d4e\u65e5\u62a5\u300b\u5417\uff1f\u6b64\u5916\uff0c\u8fd9\u91cc\u6709\u4e00\u4e9b\u6211\u4eec\u8ba4\u4e3a\u60a8\u53ef\u80fd\u4f1a\u559c\u6b22\u7684 newsletters\u3002 <\/p>\n<hr>\n<p><b>\u5206\u6790\u5927\u6a21\u578b\uff1a<\/b>gemma2<br \/><b>\u5f97\u5206\uff1a<\/b>-50<br \/><b>\u539f\u56e0\uff1a<\/b><\/p>\n<pre style=\"white-space: pre-wrap;font-size: inherit;\">\u6587\u7ae0\u4e3b\u8981\u8868\u8fbe\u4e86\u5bf9\u4e2d\u56fd\u7ecf\u6d4e\u5d1b\u8d77\u7ed9\u6b27\u6d32\u5e26\u6765\u7684\u6311\u6218\u548c\u5a01\u80c1\u7684\u62c5\u5fe7\uff0c\u8ba4\u4e3a\u6b27\u6d32\u7684\u201c\u4e2d\u56fd\u68a6\u201d\u5df2\u7ecf\u7834\u706d\uff0c\u6697\u793a\u4e2d\u56fd\u6b63\u5728\u5229\u7528\u5176\u7ecf\u6d4e\u5f71\u54cd\u529b\u5bf9\u6b27\u6d32\u65bd\u538b\uff0c\u5e76\u53ef\u80fd\u5bfc\u81f4\u8d38\u6613\u7d27\u5f20\u5c40\u52bf\u52a0\u5267\u3002\u4f5c\u8005\u5f15\u7528\u4e13\u5bb6\u89c2\u70b9\uff0c\u5f3a\u8c03\u4e86\u6b27\u6d32\u4f01\u4e1a\u5728\u4e2d\u56fd\u5e02\u573a\u9762\u4e34\u7684\u56f0\u5883\uff0c\u4ee5\u53ca\u6b27\u6d32\u5bf9\u534e\u8d38\u6613\u9006\u5dee\u4e0d\u65ad\u6269\u5927\u7684\u95ee\u9898\u3002<\/pre>\n<hr>\n<p><b>\u539f\u6587\u5730\u5740\uff1a<\/b><a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2025-09-22\/europe-s-china-dream-is-over-with-poland-now-a-bigger-customer\" target=\"_blank\">Europe\u2019s China\u00a0Dream Is Over, With\u00a0Poland Now a Bigger Customer<\/a><br \/> <b>\u65b0\u95fb\u65e5\u671f\uff1a<\/b>2025-09-22<\/p>\n<div style=\"margin: 20px 0;\"><div class=\"qrcswholewtapper\" style=\"text-align:left;\"><div class=\"qrcprowrapper\"  id=\"qrcwraa2leds\"><div class=\"qrc_canvass\" id=\"qrc_cuttenpages_2\" style=\"display:inline-block\" data-text=\"https:\/\/news.tomjun.com\/?p=36822\"><\/div><div><a download=\"\u3010\u8d1f\u9762\u3011[bloomberg]\u6b27\u6d32\u7684\u201c\u4e2d\u56fd\u68a6\u201d\u7834\u706d\uff1a\u6ce2\u5170\u6210\u66f4\u5927\u5ba2\u6237.png\" class=\"qrcdownloads\" id=\"worign\">\r\n           <button type=\"button\" style=\"min-width:200px;background:#44d813;color:#000;font-weight: 600;border: 1px solid #44d813;border-radius:20px;font-size:12px;padding: 6px 0;\" class=\"uqr_code_btn\">\u6587\u7ae0\u4e8c\u7ef4\u7801<\/button>\r\n           <\/a><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>\u6211\u662f\u6ce2\u58eb\u987f\u7684\u4e00\u540d\u7ecf\u6d4e\u7f16\u8f91\u3002\u4eca\u5929\uff0c\u6211\u4eec\u5c06\u63a2\u8ba8\u6b27\u6d32\u4e0e\u4e2d\u56fd\u4e4b\u95f4\u7ecf\u6d4e\u5173\u7cfb\u7684\u53d8\u5316\u3002\u6b22\u8fce\u5411\u6211\u4eec\u53d1\u9001\u53cd\u9988\u548c\u5efa\u8bae\u3002 \u591a\u5e74\u6765\uff0c\u4f5c [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[79],"tags":[80,76,534,303,1842],"class_list":["post-36822","post","type-post","status-publish","format-standard","hentry","category-79","tag-80","tag-76","tag-534","tag-303","tag-1842"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/news.tomjun.com\/index.php?rest_route=\/wp\/v2\/posts\/36822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.tomjun.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.tomjun.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.tomjun.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news.tomjun.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36822"}],"version-history":[{"count":1,"href":"https:\/\/news.tomjun.com\/index.php?rest_route=\/wp\/v2\/posts\/36822\/revisions"}],"predecessor-version":[{"id":36823,"href":"https:\/\/news.tomjun.com\/index.php?rest_route=\/wp\/v2\/posts\/36822\/revisions\/36823"}],"wp:attachment":[{"href":"https:\/\/news.tomjun.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.tomjun.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.tomjun.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}