{"id":902,"date":"2017-02-10T16:21:26","date_gmt":"2017-02-10T08:21:26","guid":{"rendered":"https:\/\/www.houquner.com\/?p=902"},"modified":"2017-02-10T16:21:26","modified_gmt":"2017-02-10T08:21:26","slug":"%e3%80%90%e6%8a%95%e8%a1%8c%e7%ae%80%e5%8f%b210%e3%80%91%e9%ab%98%e7%9b%9b%ef%bc%9a%e9%87%91%e8%9e%8d%e5%b8%9d%e5%9b%bd%e5%b4%9b%e8%b5%b7%e4%b9%8b%e8%b7%af","status":"publish","type":"post","link":"https:\/\/www.houquner.com\/index.php\/archives\/902","title":{"rendered":"\u3010\u6295\u884c\u7b80\u53f210\u3011\u9ad8\u76db\uff1a\u91d1\u878d\u5e1d\u56fd\u5d1b\u8d77\u4e4b\u8def"},"content":{"rendered":"

\"\"<\/p>\n

\u6d1e\u89c1\u7684\u670b\u53cb\u4eec\uff0c\u5927\u5bb6\u665a\u4e0a\u597d\uff0c\u6211\u662f\u4f60\u4eec\u7684\u8001\u670b\u53cb\u660e\u5802\u8001\u5e08\uff0c\u4eca\u5929\u6211\u4eec\u7684\u65b0\u6625\u7279\u8f91\u6295\u884c\u7b80\u53f2\u680f\u76ee\u6765\u548c\u5927\u5bb6\u804a\u804a\u201c\u4e00\u5bb6\u5386\u7ecf\u6570\u6b21\u5371\u673a\uff0c\u4f9d\u7136\u5c79\u7acb\u4e0d\u5012\u201d\u91d1\u878d\u5e1d\u56fd\u5de8\u5934\uff1a\uff08Goldman Sachs\uff09\uff0c\u4e5f\u5c31\u662f\u9ad8\u76db\u96c6\u56e2\u3002<\/p>\n

\u9ad8\u76db\u8fd9\u5bb6\u516c\u53f8\u521b\u7acb\u4e8e1869\u5e74\uff0c\u81f3\u4eca\u5df2\u8fd0\u8425147\u5e74\u3002\u5bb6\u65cf\u5f0f\u7ecf\u8425\u3001\u5408\u4f19\u4eba\u5236\u5ea6\u548c\u8f7b\u8d44\u672c\u8fd0\u4f5c\u662f\u4e0a\u5e02\u524d\u9ad8\u76db\u96c6\u56e2\u7ecf\u8425\u7684\u4e3b\u8981\u7279\u5f81\u3002<\/span>\u540e\u671f\u9ad8\u76db\u5f15\u5165\u4e86\u80a1\u4efd\u5236\u5ea6\u5e76\u5b8c\u6210\u4e0a\u5e02\uff0c\u8865\u5145\u4e86\u8d44\u672c\uff0c\u5b9e\u73b0\u4e86\u591a\u5143\u5316\u53d1\u5c55\uff0c\u521b\u9020\u4e86\u5353\u8d8a\u4e1a\u7ee9\u3002\u91d1\u878d\u5371\u673a\u540e\uff0c\u867d\u7136\u6760\u6746\u7387\u8f83\u5371\u673a\u524d\u5927\u5e45\u5ea6\u4e0b\u964d\uff0c\u4f46\u662f\u9ad8\u76db\u4e13\u6ce8\u6295\u884c\u4e1a\u52a1\u548c\u5168\u7403\u5316\u8fd0\u8425\u7684\u6838\u5fc3\u6218\u7565\u5e76\u672a\u53d1\u751f\u6539\u53d8\u3002\u53d7\u5236\u4e8e\u7ecf\u6d4e\u5f31\u590d\u82cf\u548c\u76d1\u7ba1\u8d8b\u4e25\uff0c\u9ad8\u76db\u53d1\u5c55\u4e5f\u9762\u4e34\u589e\u957f\u505c\u6ede\u548c\u76c8\u5229\u4e0b\u6ed1\u7684\u6311\u6218\u3002<\/p>\n

\"\"<\/p>\n

\u4e1a\u52a1\u6a21\u5f0f\u5bcc\u6709\u7279\u8272\uff0c\u7ba1\u63a7\u9ad8\u6548\uff0c\u5168\u7403\u4e00\u4f53\u5316\u8fd0\u8425<\/span>\uff1a\u9ad8\u76db\u4f5c\u4e3a\u72ec\u7acb\u6295\u884c\u6a21\u5f0f\u7684\u6770\u51fa\u4ee3\u8868\uff0c\u4e0d\u4f46\u5177\u6709\u72ec\u7279\u7684\u4e1a\u52a1\u6a21\u5f0f\u548c\u9ad8\u6548\u7684\u7ba1\u63a7\u67b6\u6784\uff1b\u800c\u4e14\u8fd8\u5177\u6709\u8f83\u9ad8\u7684\u5168\u7403\u4e00\u4f53\u5316\u8fd0\u8425\u6c34\u5e73\u3002\u4ece\u4e1a\u52a1\u6a21\u5f0f\u770b\uff0c\u9ad8\u76db\u6df1\u8015\u6295\u884c\u5168\u4ea7\u4e1a\u94fe\uff0c\u4e1a\u52a1\u6761\u7ebf\u6e05\u6670\uff0c\u6536\u5165\u4ee5\u624b\u7eed\u8d39\u4e3a\u4e3b\uff0c\u673a\u6784\u3001\u6295\u884c\u3001\u6295\u8d44\u548c\u8d44\u7ba1\u56db\u5927\u6761\u7ebf\u8d21\u732e\u76f8\u5bf9\u5747\u8861\u3002\u9ad8\u76db\u96c6\u56e2\u7684\u9ad8\u6548\u7ba1\u63a7\u6e90\u4e8e\u5408\u4f19\u4eba\u7cbe\u795e\u4e0e\u73b0\u4ee3\u516c\u53f8\u6cbb\u7406\u673a\u5236\u7684\u5b8c\u7f8e\u7ed3\u5408\u3001\u4ee5\u7ba1\u7406\u59d4\u5458\u4f1a\u4e3a\u6838\u5fc3\u7684\u6241\u5e73\u7ec4\u7ec7\u67b6\u6784\u548c\u5bf9\u4e2d\u540e\u53f0\u7684\u5927\u529b\u6295\u5165\u3002\u7531\u4e8e\u5177\u6709\u9887\u9ad8\u7684\u5168\u7403\u4e00\u4f53\u5316\u8fd0\u8425\u6c34\u5e73\uff0c\u9ad8\u76db\u6d77\u5916\u4e1a\u52a1\u6536\u5165\u5360\u6bd4\u5e38\u5e74\u4fdd\u6301\u572840%\u5de6\u53f3\u3002<\/p>\n

\u9ad8\u76db\u96c6\u56e2\u7684\u56db\u5927\u4e1a\u52a1<\/p>\n

\u25a0<\/span>\u6295\u8d44\u94f6\u884c<\/p>\n

\u9ad8\u76db\u96c6\u56e2\u5411\u7531\u4f01\u4e1a\u3001\u91d1\u878d\u673a\u6784\u3001\u6295\u8d44\u57fa\u91d1\u548c\u653f\u5e9c\u7ec4\u6210\u7684\u591a\u5143\u5ba2\u6237\u7fa4\u4f53\u63d0\u4f9b\u5e7f\u6cdb\u7684\u6295\u8d44\u94f6\u884c\u670d\u52a1<\/span>\uff0c\u5176\u4e2d\u5305\u62ec\uff1a\u5c31\u5408\u5e76\u548c\u6536\u8d2d\u3001\u8d44\u4ea7\u51fa\u552e\u3001\u4f01\u4e1a\u53cd\u6536\u8d2d\u6d3b\u52a8\u3001\u98ce\u9669\u7ba1\u7406\u3001\u91cd\u7ec4\u548c\u5206\u62c6\u3001\u516c\u5f00\u53d1\u552e\u548c\u79c1\u52df\u914d\u552e\u7684\u503a\u5238\u548c\u80a1\u7968\u627f\u9500\uff08\u5305\u62ec\u56fd\u5185\u4ea4\u6613\u548c\u8de8\u5883\u4ea4\u6613\uff09\uff0c\u4ee5\u53ca\u4e0e\u8fd9\u4e9b\u6d3b\u52a8\u76f4\u63a5\u76f8\u5173\u7684\u884d\u751f\u5de5\u5177\u4ea4\u6613\u63d0\u4f9b\u7b56\u7565\u54a8\u8be2\u670d\u52a1\u3002<\/p>\n

\u25a0<\/span>\u673a\u6784\u5ba2\u6237\u670d\u52a1<\/p>\n

\u9ad8\u76db\u96c6\u56e2\u4fc3\u8fdb\u5ba2\u6237\u4ea4\u6613\uff0c\u5e76\u5728\u56fa\u5b9a\u6536\u76ca\u3001\u80a1\u7968\u3001\u8d27\u5e01\u548c\u5546\u54c1\u5e02\u573a\u63d0\u4f9b\u505a\u5e02\u670d\u52a1\uff0c\u4e3b\u8981\u662f\u4e0e\u4f01\u4e1a\u3001\u91d1\u878d\u673a\u6784\u3001\u6295\u8d44\u57fa\u91d1\u53ca\u653f\u5e9c\u7b49\u673a\u6784\u5ba2\u6237\u5408\u4f5c\u3002<\/span>\u5411\u904d\u5e03\u5168\u7403\u7684\u4e3b\u8981\u80a1\u7968\u3001\u671f\u6743\u53ca\u671f\u8d27\u4ea4\u6613\u6240\u63d0\u4f9b\u505a\u5e02\u670d\u52a1\uff0c\u5e76\u5411\u673a\u6784\u5ba2\u6237\u63d0\u4f9b\u878d\u8d44\u3001\u8bc1\u5238\u501f\u8d37\u53ca\u5176\u5b83\u673a\u6784\u7ecf\u7eaa\u670d\u52a1\u3002<\/p>\n

\u25a0<\/span>\u6295\u8d44\u4e0e\u501f\u8d37<\/p>\n

\u9ad8\u76db\u96c6\u56e2\u901a\u8fc7\u6295\u8d44\u4e0e\u8d37\u6b3e\u5411\u5ba2\u6237\u63d0\u4f9b\u878d\u8d44\u3002<\/span>\u8fd9\u4e9b\u6295\u8d44\u53ca\u8d37\u6b3e\u4e00\u822c\u5c5e\u4e8e\u957f\u671f\u6027\u8d28\u3002\u901a\u8fc7\u7ba1\u7406\u7684\u57fa\u91d1\u76f4\u63a5\u6216\u95f4\u63a5\u6295\u8d44\u4e8e\u503a\u52a1\u8bc1\u5238\u53ca\u8d37\u6b3e\u3001\u4e0a\u5e02\u53ca\u79c1\u52df\u80a1\u6743\u8bc1\u5238\u3001\u623f\u5730\u4ea7\u3001\u7efc\u5408\u6295\u8d44\u5b9e\u4f53\u53ca\u53d1\u7535\u5382\u3002<\/p>\n

\u25a0<\/span>\u6295\u8d44\u7ba1\u7406<\/p>\n

\u9ad8\u76db\u96c6\u56e2\u5411\u4f17\u591a\u673a\u6784\u548c\u4e2a\u4eba\u5ba2\u6237\u63d0\u4f9b\u6a2a\u8de8\u6240\u6709\u4e3b\u8981\u8d44\u4ea7\u7c7b\u522b\u7684\u6295\u8d44\u7ba1\u7406\u670d\u52a1\u548c\u6295\u8d44\u4ea7\u54c1<\/span>\uff08\u4e3b\u8981\u901a\u8fc7\u72ec\u7acb\u7ba1\u7406\u8d26\u6237\u53ca\u96c6\u5408\u6295\u8d44\u5de5\u5177\uff0c\u4f8b\u5982\u5171\u540c\u57fa\u91d1\u548c\u79c1\u52df\u6295\u8d44\u57fa\u91d1\uff09\u3002\u9ad8\u76db\u96c6\u56e2\u4e5f\u5411\u9ad8\u51c0\u503c\u4e2a\u4eba\u548c\u5bb6\u5ead\u63d0\u4f9b\u7406\u8d22\u987e\u95ee\u670d\u52a1\uff0c\u5305\u62ec\u6295\u8d44\u7ec4\u5408\u7ba1\u7406\u548c\u8d22\u52a1\u987e\u95ee\uff0c\u7ecf\u7eaa\u548c\u5176\u5b83\u4ea4\u6613\u670d\u52a1\u3002<\/p>\n

\u9ad8\u76db\u4f01\u4e1a\u6210\u957f\u53f2<\/span><\/p>\n

\u9ad8\u76db\u516c\u53f8\u6210\u7acb\u4e8e1869\u5e74\uff0c\u572819\u4e16\u7eaa90\u5e74\u4ee3\u5230\u7b2c\u4e00\u6b21\u4e16\u754c\u5927\u6218\u671f\u95f4\uff0c\u6295\u8d44\u94f6\u884c\u4e1a\u52a1\u5f00\u59cb\u5f62\u6210\uff0c\u4f46\u4e0e\u5546\u4e1a\u94f6\u884c\u6ca1\u6709\u533a\u5206\u3002\u9ad8\u76db\u516c\u53f8\u5728\u6b64\u9636\u6bb5\u6700\u521d\u4ece\u4e8b\u5546\u4e1a\u7968\u636e\u4ea4\u6613\uff0c\u521b\u4e1a\u65f6\u53ea\u6709\u4e00\u4e2a\u529e\u516c\u4eba\u5458\u548c\u4e00\u4e2a\u517c\u804c\u8bb0\u8d26\u5458\u3002\u521b\u59cb\u4eba\u9a6c\u53ef\u65af\u2022\u6208\u5fb7\u95e8\u6bcf\u5929\u6cbf\u8857\u6253\u6298\u6536\u8d2d\u5546\u4eba\u4eec\u7684\u672c\u7968\uff0c\u7136\u540e\u5728\u67d0\u4e2a\u7ea6\u5b9a\u65e5\u671f\u91cc\u7531\u539f\u51fa\u552e\u672c\u7968\u7684\u5546\u4eba\u6309\u7968\u9762\u91d1\u989d\u652f\u4ed8\u73b0\u91d1\uff0c\u5176\u4e2d\u5dee\u989d\u4fbf\u662f\u9a6c\u53ef\u65af\u7684\u6536\u5165\u3002<\/p>\n

\u25a0<\/span>1\u3001\u80a1\u7968\u5305\u9500\u4e1a\u52a1\u4f7f\u9ad8\u76db\u6210\u4e3a\u771f\u6b63\u7684\u6295\u8d44\u94f6\u884c\uff0c\u516c\u53f8\u4ece\u8fc5\u901f\u81a8\u80c0\u5230\u6fd2\u4e34\u5012\u95ed<\/p>\n

\u540e\u6765\u9ad8\u76db\u589e\u52a0\u8d37\u6b3e\u3001\u5916\u6c47\u5151\u6362\u53ca\u65b0\u5174\u7684\u80a1\u7968\u5305\u9500\u4e1a\u52a1\uff0c\u89c4\u6a21\u867d\u5c0f\uff0c\u5374\u662f\u5df2\u5177\u96cf\u5f62\u3002\u800c\u80a1\u7968\u5305\u9500\u4e1a\u52a1\u4f7f\u9ad8\u76db\u53d8\u6210\u4e86\u771f\u6b63\u7684\u6295\u8d44\u94f6\u884c\u3002<\/p>\n

\u57281929\u5e74\uff0c\u9ad8\u76db\u516c\u53f8\u8fd8\u662f\u4e00\u4e2a\u5f88\u4fdd\u5b88\u7684\u5bb6\u65cf\u4f01\u4e1a\uff0c\u5f53\u65f6\u516c\u53f8\u9886\u8896\u5a01\u8fea\u5965\u2022\u51ef\u7434\u65af\u60f3\u628a\u9ad8\u76db\u516c\u53f8\u7531\u5355\u4e00\u7684\u7968\u636e\u4e1a\u52a1\u53d1\u5c55\u6210\u4e00\u4e2a\u5168\u9762\u7684\u6295\u8d44\u94f6\u884c\u3002\u4ed6\u505a\u7684\u7b2c\u4e00\u6b65\u5c31\u662f\u5f15\u5165\u80a1\u7968\u4e1a\u52a1\uff0c\u6210\u7acb\u4e86\u9ad8\u76db\u80a1\u7968\u4ea4\u6613\u516c\u53f8\uff0c\u5728\u4ed6\u72c2\u70ed\u7684\u63a8\u52a8\u4e0b\uff0c\u9ad8\u76db\u4ee5\u6bcf\u65e5\u6210\u7acb\u4e00\u5bb6\u4fe1\u6258\u6295\u8d44\u516c\u53f8\u7684\u901f\u5ea6\uff0c\u8fdb\u5165\u5e76\u8fc5\u901f\u6269\u5f20\u7c7b\u4f3c\u4eca\u5929\u4e92\u52a9\u57fa\u91d1\u7684\u4e1a\u52a1\uff0c\u80a1\u7968\u53d1\u884c\u91cf\u77ed\u671f\u81a8\u80c01\u4ebf\u7f8e\u5143\u3002\u516c\u53f8\u4e00\u5ea6\u53d1\u5c55\u5f97\u975e\u5e38\u5feb\uff0c\u80a1\u7968\u7531\u6bcf\u80a1\u51e0\u7f8e\u5143\uff0c\u5feb\u901f\u6da8\u5230100\u591a\u7f8e\u5143\uff0c\u6700\u540e\u6da8\u5230\u4e86200\u591a\u7f8e\u5143\u3002\u4f46\u662f\u597d\u666f\u4e0d\u957f\uff0c1929\u5e74\u7684\u5168\u7403\u91d1\u878d\u5371\u673a\uff0c\u534e\u5c14\u8857\u80a1\u5e02\u5927\u5d29\u76d8\uff0c\u4f7f\u5f97\u80a1\u4ef7\u4e00\u843d\u5343\u4e08\uff0c\u8dcc\u5230\u4e00\u5757\u591a\u94b1\uff0c\u4f7f\u516c\u53f8\u635f\u5931\u4e8692%\u7684\u539f\u59cb\u6295\u8d44\uff0c\u516c\u53f8\u7684\u58f0\u8a89\u4e5f\u5728\u534e\u5c14\u8857\u4e00\u843d\u5343\u4e08\uff0c\u6210\u4e3a\u534e\u5c14\u8857\u7684\u7b11\u67c4\u3001\u9519\u8bef\u7684\u4ee3\u540d\u8bcd\uff0c\u516c\u53f8\u6fd2\u4e34\u5012\u95ed\u3002\u8fd9\u4e4b\u540e\uff0c\u7ee7\u4efb\u8005\u897f\u5fb7\u5c3c\u2022\u6587\u4f2f\u683c\u4e00\u76f4\u4fdd\u6301\u7740\u4fdd\u5b88\u3001\u7a33\u5065\u7684\u7ecf\u8425\u4f5c\u98ce\uff0c\u7528\u4e86\u6574\u657430\u5e74\uff0c\u4f7f\u906d\u53d7\u201c\u91d1\u878d\u5371\u673a\u201d\u60e8\u8d25\u7684\u9ad8\u76db\u6062\u590d\u4e86\u5143\u6c14\u300260\u5e74\u4ee3\uff0c\u589e\u52a0\u5927\u5b97\u80a1\u7968\u4ea4\u6613\u66f4\u662f\u5e26\u6765\u7684\u65b0\u7684\u589e\u957f\u3002<\/p>\n

\u25a0<\/span>2\u3001\u53cd\u6076\u610f\u6536\u8d2d\u4e1a\u52a1\u4f7f\u9ad8\u76db\u771f\u6b63\u6210\u4e3a\u6295\u8d44\u94f6\u884c\u754c\u7684\u4e16\u754c\u7ea7\u201c\u9009\u624b\u201d\u3002<\/p>\n

70\u5e74\u4ee3\uff0c\u9ad8\u76db\u6293\u4f4f\u4e00\u4e2a\u5927\u5546\u673a\uff0c\u4ece\u800c\u5728\u6295\u8d44\u94f6\u884c\u754c\u5f02\u519b\u7a81\u8d77\u3002\u5f53\u65f6\u8d44\u672c\u5e02\u573a\u4e0a\u5174\u8d77\u201c\u6076\u610f\u6536\u8d2d\u201d\uff0c\u6076\u610f\u6536\u8d2d\u7684\u51fa\u73b0\u4f7f\u6295\u8d44\u884c\u4e1a\u5f7b\u5e95\u6253\u7834\u4e86\u4f20\u7edf\u7684\u683c\u5c40\uff0c\u50ac\u53d1\u4e86\u65b0\u7684\u884c\u4e1a\u79e9\u5e8f\u3002\u9ad8\u76db\u7387\u5148\u6253\u51fa\u201c\u53cd\u6536\u8d2d\u987e\u95ee\u201d\u7684\u65d7\u5e1c\uff0c\u5e2e\u52a9\u90a3\u4e9b\u906d\u53d7\u6076\u610f\u6536\u8d2d\u7684\u516c\u53f8\u8bf7\u6765\u53cb\u597d\u7ade\u4ef7\u8005\u53c2\u4e0e\u7ade\u4ef7\u3001\u62ac\u9ad8\u6536\u8d2d\u4ef7\u683c\u6216\u91c7\u53d6\u53cd\u6258\u62c9\u65af\u8bc9\u8bbc\uff0c\u7528\u4ee5\u72d9\u51fb\u6076\u610f\u6536\u8d2d\u8005\u3002\u9ad8\u76db\u4e00\u4e0b\u5b50\u6210\u4e86\u906d\u53d7\u6076\u610f\u6536\u8d2d\u8005\u7684\u5929\u4f7f\u3002<\/p>\n

1976\u5e74\uff0c\u5728\u9ad8\u76db\u7684\u9ad8\u7ea7\u5408\u4f19\u4eba\u83b1\u6587\u53bb\u4e16\u540e\uff0c\u516c\u53f8\u7ba1\u7406\u59d4\u5458\u4f1a\u51b3\u5b9a\u7531\u6587\u4f2f\u683c\u548c\u6000\u7279\u9ed1\u7279\u4e24\u4eba\u5171\u540c\u4f5c\u4e3a\u9ad8\u76db\u4ea7\u4e1a\u7684\u7ee7\u627f\u8005\u3002\u521a\u5f00\u59cb\uff0c\u534e\u5c14\u8857\u7684\u4eba\u4eec\u90fd\u6000\u7591\u8fd9\u79cd\u4e24\u4eba\u5171\u638c\u5927\u6743\u7684\u9886\u5bfc\u7ed3\u6784\u4f1a\u5f15\u53d1\u516c\u53f8\u5185\u90e8\u7684\u6df7\u4e71\uff0c\u5f88\u5feb\u4ed6\u4eec\u53d1\u73b0\u4ed6\u4eec\u9519\u4e86\uff0c\u56e0\u4e3a\u4e24\u4f4d\u65b0\u4eba\u914d\u5408\u9ed8\u5951\uff0c\u9ad8\u76db\u4e5f\u7531\u6b64\u8fc8\u8fdb\u4e86\u4e16\u754c\u6700\u9876\u5c16\u7ea7\u7684\u6295\u8d44\u94f6\u884c\u7684\u884c\u5217\u3002<\/p>\n

\"\"<\/p>\n

\u6587\u4f2f\u683c\u548c\u6000\u7279\u9ed1\u7279\u65e9\u5c31\u8ba4\u4e3a\u516c\u53f8\u7ba1\u7406\u6df7\u4e71\uff0c\u8868\u73b0\u4e3a\u8d23\u6743\u754c\u5b9a\u4e0d\u6e05\u6670\uff0c\u7f3a\u4e4f\u7eaa\u5f8b\u7ea6\u675f\uff0c\u652f\u51fa\u8d39\u7528\u5de8\u5927\u3002\u6bd4\u5982\u591a\u5e74\u6765\uff0c\u6bcf\u5929\u4e0b\u53484\uff1a30\uff0c\u90fd\u4f1a\u6709\u4e00\u8f86\u9ad8\u7ea7\u8f7f\u8f66\u4e13\u95e8\u8d1f\u8d23\u63a5\u9001\u5408\u4f19\u4eba\u3002\u65b0\u9886\u5bfc\u4eba\u4e0a\u4efb\u7684\u7b2c\u4e00\u628a\u706b\u5c31\u662f\u8d34\u51fa\u4e86\u4e00\u6761\u7b80\u660e\u7684\u516c\u544a\uff1a\u201c\u5386\u53f2\u4e0a\u9057\u7559\u4e0b\u6765\u7684\u60ef\u4f8b\u2014\u20144\uff1a30\u7531\u8f7f\u8f66\u63a5\u9001\u2014\u2014\u5c06\u4e0d\u518d\u7ee7\u7eed\uff0c\u5373\u65e5\u751f\u6548\u3002\u201d\u81ea\u6b64\u4ee5\u540e\uff0c\u5408\u4f19\u4eba\u7684\u7b49\u7ea7\u7279\u6743\u5c06\u4e0d\u590d\u5b58\u5728\uff0c\u8d39\u7528\u652f\u51fa\u4e5f\u53d7\u5230\u76d1\u63a7\uff0c\u6bcf\u5929\u4e0b\u53484\uff1a30\u4e5f\u4e0d\u518d\u662f\u4e00\u5929\u5de5\u4f5c\u7684\u7ec8\u7ed3\uff0c\u800c\u662f\u4e0b\u5348\u5de5\u4f5c\u7684\u4e2d\u6bb5\u65f6\u95f4\u3002\u5c3d\u7ba1\u8d77\u6b65\u7f13\u6162\uff0c\u6587\u4f2f\u683c\u548c\u6000\u7279\u9ed1\u7279\u516c\u53f8\u572870\u5e74\u4ee3\u548c80\u5e74\u4ee3\u521d\u671f\u6240\u53d6\u5f97\u7684\u6210\u529f\u5728\u5f88\u5927\u7a0b\u5ea6\u4e0a\u5e94\u5f52\u529f\u4e8e\u517c\u5e76\u548c\u6536\u8d2d\u4e1a\u52a1\u7684\u53d1\u5c55\u3002\u4ee5\u524d\uff0c\u4e00\u5bb6\u516c\u53f8\u5982\u679c\u6709\u610f\u5411\u6536\u8d2d\u53e6\u4e00\u5bb6\u516c\u53f8\uff0c\u5b83\u5f88\u53ef\u80fd\u4f1a\u5c3d\u91cf\u5438\u5f15\u6216\u8bf4\u670d\u5bf9\u65b9\u540c\u610f\uff0c\u7edd\u4e0d\u4f1a\u516c\u5f00\u5730\u5f3a\u884c\u517c\u5e76\u3002\u4f46\u5230\u4e8670\u5e74\u4ee3\uff0c\u4e00\u5411\u6587\u660e\u89c4\u8303\u7684\u6295\u8d44\u94f6\u884c\u4e1a\u5728\u7a81\u7136\u95f4\u8d70\u5230\u4e86\u5c3d\u5934\uff0c\u4e00\u4e9b\u4e3b\u8981\u7684\u7f8e\u56fd\u516c\u53f8\u548c\u6295\u8d44\u94f6\u884c\u629b\u5f03\u4e86\u8fd9\u4e2a\u884c\u4e1a\u4f20\u7edf\u30021974\u5e747\u6708\u6295\u8d44\u94f6\u884c\u754c\u4fe1\u8a89\u6700\u597d\u7684\u6469\u6839\u65af\u5766\u5229\u9996\u5148\u53c2\u4e0e\u4e86\u6076\u610f\u6536\u8d2d\u6d3b\u52a8\u3002\u5f53\u65f6\u6469\u6839\u65af\u5766\u5229\u4ee3\u8868\u5176\u52a0\u62ff\u5927\u5ba2\u6237\u56fd\u9645\u954d\u94ec\u516c\u53f8\uff08INCO\uff09\u53c2\u4e0e\u4e86\u4f01\u56fe\u6076\u610f\u6536\u8d2d\u5f53\u65f6\u4e16\u754c\u6700\u5927\u7684\u7535\u6c60\u5236\u9020\u5546\u7535\u50a8\u7535\u6c60\u516c\u53f8\uff08ESB\uff09\u7684\u884c\u52a8\u3002ESB\u5728\u5f97\u77e5\u6469\u6839\u65af\u5766\u5229\u7684\u654c\u5bf9\u610f\u56fe\u540e\uff0c\u6253\u7535\u8bdd\u7ed9\u5f53\u65f6\u638c\u7ba1\u9ad8\u76db\u516c\u53f8\u517c\u5e76\u6536\u8d2d\u90e8\u7684\u5f17\u91cc\u66fc\u5fb7\uff0c\u8bf7\u6c42\u5e2e\u5fd9\u3002\u7b2c\u4e8c\u5929\u4e0a\u53489\u70b9\uff0c\u5f17\u91cc\u66fc\u5fb7\u4fbf\u5750\u5728\u4f4d\u4e8e\u8d39\u57ce\u7684ESB\u516c\u53f8\u8001\u677f\u7684\u529e\u516c\u5ba4\u3002<\/p>\n

\u5f53\u4ed6\u5f97\u77e5\u7ade\u8d2d\u4ef7\u683c\u662f\u6bcf\u80a120\u7f8e\u5143\uff08\u6bd4\u4e0a\u4e00\u4e2a\u4ea4\u6613\u65e5\u4e0a\u6da89\u7f8e\u5143\uff09\u65f6\uff0c\u5efa\u8baeESB\u7528\u201c\u767d\u8863\u9a91\u58eb\u201d\uff08\u53d7\u6076\u610f\u6536\u8d2d\u7684\u516c\u53f8\u8bf7\u6765\u53cb\u597d\u7684\u7ade\u4ef7\u8005\u53c2\u4e0e\u7ade\u4ef7\uff0c\u4ee5\u62ac\u9ad8\u6536\u8d2d\u4ef7\u683c\uff09\u7684\u529e\u6cd5\u5bf9\u4ed8INCO\uff0c\u6216\u8fdb\u884c\u53cd\u6258\u62c9\u65af\u8bc9\u8bbc\uff0c\u5728\u9ad8\u76db\u516c\u53f8\u548c\u201c\u767d\u8863\u9a91\u58eb\u201d\u8054\u5408\u98de\u673a\u5236\u9020\u516c\u53f8\u7684\u534f\u52a9\u4e0b\uff0cINCO\u6700\u7ec8\u4ed8\u51fa\u4e8641\u7f8e\u5143\u7684\u9ad8\u4ef7\uff0cESB\u7684\u80a1\u4e1c\u4eec\u624b\u4e2d\u7684\u80a1\u7968\u5219\u4e0a\u6da8\u4e86100\uff05\u3002\u4ece\u8fd9\u4ef6\u4e8b\u5f00\u59cb\uff0c\u5728\u4e00\u6b21\u53c8\u4e00\u6b21\u7684\u6536\u8d2d\u4e0e\u53cd\u6536\u8d2d\u6597\u4e89\u4e2d\uff0c\u9996\u5148\u662f\u6469\u6839\u65af\u5766\u5229\uff0c\u7136\u540e\u662f\u7b2c\u4e00\u6ce2\u58eb\u987f\u90fd\u5145\u5f53\u4e86\u6536\u8d2d\u8005\u7684\u89d2\u8272\uff0c\u800c\u9ad8\u76db\u516c\u53f8\u5219\u662f\u53cd\u6076\u610f\u6536\u8d2d\u7684\u652f\u67f1\u3002<\/p>\n

INCO\u548cESB\u4e4b\u95f4\u7684\u6597\u4e89\u7ed9\u4e86\u9ad8\u76db\u516c\u53f8\u5728\u8fd9\u4e00\u65b9\u9762\u6210\u529f\u7684\u7ecf\u9a8c\u3002\u540c\u65f6\u4e5f\u662f\u597d\u8fd0\u6765\u4e34\u7684\u826f\u597d\u5f81\u5146\u3002\u4eba\u4eec\u8ba4\u4e3a\u9ad8\u76db\u516c\u53f8\u662f\u5177\u5907\u5b9e\u529b\u7684\uff0c\u5448\u4e0a\u5347\u72b6\u6001\u7684\u548c\u5c0f\u578b\u3001\u4e2d\u578b\u516c\u53f8\u4ee5\u53ca\u8fdb\u5165\u300a\u8d22\u5bcc\u300b500\u5f3a\u7684\u5927\u516c\u53f8\u5e76\u80a9\u6218\u6597\u7684\u4f01\u4e1a\u3002\u56e0\u4e3a\u7a81\u7136\u4e4b\u95f4\uff0c\u7f8e\u56fd\u5404\u516c\u53f8\u7684\u9996\u5e2d\u6267\u884c\u5b98\u4eec\u5bf9\u6076\u610f\u5e76\u8d2d\u6050\u60e7\u5230\u4e86\u6781\u70b9\uff0c\u9664\u4e86\u4e00\u4e9b\u6700\u5927\u7684\u516c\u53f8\uff0c\u5176\u4ed6\u516c\u53f8\u90fd\u89c9\u5f97\u96be\u4ee5\u62b5\u6321\u6076\u610f\u5e76\u8d2d\uff0c\u4e8e\u662f\u9ad8\u76db\u6210\u4e3a\u4e86\u4ed6\u4eec\u7684\u5408\u4f5c\u4f19\u4f34\u3002\u5f53\u7136\uff0c\u521a\u5f00\u59cb\u7684\u4e00\u6bb5\u65f6\u95f4\u91cc\uff0c\u9ad8\u76db\u7ecf\u5e38\u8981\u51e0\u5ea6\u767b\u95e8\u62dc\u8bbf\uff0c\u5bf9\u65b9\u624d\u613f\u610f\u63a5\u53d7\u9ad8\u76db\u7684\u670d\u52a1\u30021976\u5e747\u6708\uff0c\u963f\u5179\u514b\u77f3\u6cb9\u516c\u53f8\u53d7\u5230\u4e86\u654c\u5bf9\u6027\u653b\u51fb\uff0c\u4f46\u662f\u4ed6\u4eec\u5bf9\u9ad8\u76db\u7684\u670d\u52a1\u4e1d\u6beb\u4e0d\u611f\u5174\u8da3\uff0c\u4ed6\u4eec\u8bf7\u6765\u4e86\u5f8b\u5e08\uff0c\u5e76\u521d\u6b65\u63a7\u5236\u4e86\u4e8b\u6001\u3002\u5f17\u91cc\u5fb7\u66fc\u5efa\u8bae\u91cd\u65b0\u8003\u8651\u4e00\u4e0b\u81ea\u5df2\u7684\u51b3\u5b9a\uff0c\u5e76\u544a\u8bc9\u5bf9\u65b9\u9ad8\u76db\u7684\u5de5\u4f5c\u5c0f\u7ec4\u6b63\u5728\u524d\u5f80\u673a\u573a\u7684\u8def\u4e0a\uff0c\u51e0\u4e2a\u5c0f\u65f6\u4ee5\u540e\u5c31\u53ef\u4ee5\u548c\u4ed6\u4eec\u8fdb\u884c\u79c1\u4e0b\u534f\u5546\u3002\u5f17\u91cc\u5fb7\u66fc\u540e\u6765\u8bf4\uff1a\u201c\u6211\u4eec\u706b\u901f\u8d76\u5230\u673a\u573a\uff0c\u76f4\u98de\u8fbe\u62c9\u65af\uff0c\u4f46\u5bf9\u65b9\u4ecd\u7136\u4e0d\u613f\u4f1a\u89c1\u6211\u4eec\uff0c\u4e8e\u662f\u6211\u4eec\u5c31\u5728\u4ed6\u4eec\u516c\u53f8\u9644\u8fd1\u4f4f\u4e86\u4e0b\u6765\uff0c\u7136\u540e\u8fdb\u53bb\u544a\u8bc9\u5bf9\u65b9\u4e00\u4e9b\u4ed6\u4eec\u6ca1\u6709\u8003\u8651\u900f\u5f7b\u7684\u4e8b\u60c5\uff0c\u4f46\u662f\u5f97\u5230\u7684\u56de\u7b54\u662f\u2018\u6211\u4eec\u4e0d\u9700\u8981\u4f60\u4eec\u7684\u670d\u52a1\u2019\u3002\u6211\u4eec\u8bf4\uff1a\u2018\u660e\u5929\u6211\u4eec\u8fd8\u4f1a\u56de\u6765\u2019\u3002\u4ee5\u540e\u6211\u4eec\u6bcf\u5929\u5230\u9644\u8fd1\u7684\u5546\u5e97\u4e70\u4e00\u4e9b\u4e1c\u897f\uff0c\u8ba9\u4ed6\u4eec\u77e5\u9053\u6211\u4eec\u575a\u6301\u7559\u4e0b\u6765\u7b49\u5f85\u6d88\u606f\u3002\u201d\u6700\u540e\u963f\u5179\u5408\u514b\u516c\u53f8\u8ba4\u8bc6\u5230\u4e86\u95ee\u9898\u7684\u4e25\u91cd\u6027\uff0c\u4e5f\u611f\u5230\u4e86\u9ad8\u76db\u516c\u53f8\u7684\u6267\u7740\u7cbe\u795e\uff0c\u540c\u610f\u9ad8\u76db\u516c\u53f8\u4e3a\u5176\u63d0\u4f9b\u670d\u52a1\u3002<\/p>\n

\u53c2\u4e0e\u6076\u610f\u5e76\u8d2d\u4f7f\u6469\u6839\u65af\u5766\u5229\u83b7\u5f97\u4e86\u7834\u7eaa\u5f55\u7684\u6536\u5165\uff0c\u4f46\u662f\u9ad8\u76db\u516c\u53f8\u91c7\u53d6\u4e86\u4e0e\u5176\u622a\u7136\u4e0d\u540c\u7684\u653f\u7b56\uff0c\u62d2\u7edd\u4e3a\u6076\u610f\u6536\u8d2d\u8005\u63d0\u4f9b\u670d\u52a1\uff0c\u76f8\u53cd\uff0c\u9ad8\u76db\u4f1a\u4fdd\u62a4\u53d7\u5bb3\u8005\u3002\u8bb8\u591a\u540c\u884c\u7ade\u4e89\u5bf9\u624b\u8ba4\u4e3a\u9ad8\u76db\u8fd9\u4e00\u4e3e\u52a8\u662f\u4f2a\u5584\u884c\u4e3a\uff0c\u76ee\u7684\u662f\u5f15\u4eba\u6ce8\u76ee\u4ee5\u53ca\u7b3c\u7edc\u4eba\u5fc3\uff0c\u800c\u9ad8\u76db\u5374\u8ba4\u4e3a\u4ed6\u4eec\u662f\u516c\u53f8\u5bf9\u81ea\u5df1\u548c\u5ba2\u6237\u7684\u957f\u671f\u5229\u76ca\u8d1f\u8d23\u3002\u53cd\u6076\u610f\u6536\u8d2d\u4e1a\u52a1\u7ed9\u9ad8\u76db\u6295\u8d44\u94f6\u884c\u90e8\u5e26\u6765\u7684\u597d\u5904\u662f\u96be\u4ee5\u4f30\u91cf\u7684\u3002\u57281966\u5e74\u5e76\u8d2d\u90e8\u95e8\u7684\u4e1a\u52a1\u6536\u5165\u662f60\u4e07\u7f8e\u5143\uff0c\u5230\u4e861980\u5e74\u5e76\u8d2d\u90e8\u95e8\u7684\u6536\u5165\u5df2\u5347\u81f3\u5927\u7ea69000\u4e07\u7f8e\u5143\u30021989\u5e74\uff0c\u5e76\u8d2d\u90e8\u95e8\u7684\u5e74\u6536\u5165\u662f3.5\u4ebf\u7f8e\u5143\uff0c\u4ec5\u4ec58\u5e74\u4e4b\u540e\uff0c\u8fd9\u4e00\u6307\u6807\u518d\u5ea6\u4e0a\u5347\u81f310\u4ebf\u7f8e\u5143\u3002\u9ad8\u76db\u7531\u6b64\u771f\u6b63\u6210\u4e3a\u6295\u8d44\u94f6\u884c\u754c\u7684\u4e16\u754c\u7ea7\u201c\u9009\u624b\u201d\u3002<\/p>\n

\"\"<\/p>\n

2016\u5e74\u5e95\u7f8e\u56fd\u65b0\u4efb\u603b\u7edf\u7279\u6717\u666e\u4efb\u547d\u9ad8\u76db\u603b\u88c1\u517cCOO\uff0c\u79d1\u6069(Gary Cohn)\u4e3a\u767d\u5bab\u56fd\u5bb6\u7ecf\u6d4e\u59d4\u5458\u4f1a\u4e3b\u4efb\uff0c\u8fd9\u4e5f\u662f\u767d\u5bab\u4e2d\u5bf9\u7ecf\u6d4e\u51b3\u7b56\u6700\u5177\u5f71\u54cd\u529b\u7684\u804c\u4f4d\u3002<\/span><\/p>\n

\u5f53\u7136\uff0c\u201c\u9ad8\u76db\u5e2e\u201d\u7684\u5b9e\u529b\u8fdc\u4e0d\u6b62\u4e8e\u6b64\u2014\u2014\u5019\u4efb\u7f8e\u56fd\u8d22\u957f\u52aa\u59c6\u94a6(Steven Mnuchin)\u66fe\u4e3a\u9ad8\u76db\u9ad8\u7ba1\uff0c\u603b\u7edf\u9996\u5e2d\u6218\u7565\u4e13\u5bb6\u548c\u9ad8\u7ea7\u987e\u95ee\u73ed\u519c(Stephen Bannon)\u3001\u526f\u8d22\u957f\u7684\u70ed\u95e8\u4eba\u9009\u65af\u5361\u62c9\u59c6\u9f50(Anthony Scaramucci)\u90fd\u66fe\u4e3a\u9ad8\u76db\u94f6\u884c\u5bb6\u3002\u672a\u6765\u9ad8\u76db\u96c6\u56e2\u53d1\u5c55\u4f1a\u5982\u4f55\uff1f\u6211\u4eec\u62ed\u76ee\u4ee5\u5f85~<\/p>\n

 <\/p>\n

\u8f6c\u8f7d\u8bf7\u6ce8\u660e\uff1aKermit\u7684\u7f51\u7ad9<\/a> » \u3010\u6295\u884c\u7b80\u53f210\u3011\u9ad8\u76db\uff1a\u91d1\u878d\u5e1d\u56fd\u5d1b\u8d77\u4e4b\u8def<\/a><\/p>","protected":false},"excerpt":{"rendered":"

\u6d1e\u89c1\u7684\u670b\u53cb\u4eec\uff0c\u5927\u5bb6\u665a\u4e0a\u597d\uff0c\u6211\u662f\u4f60\u4eec\u7684\u8001\u670b\u53cb\u660e\u5802\u8001\u5e08\uff0c\u4eca\u5929\u6211\u4eec\u7684\u65b0\u6625\u7279\u8f91\u6295\u884c\u7b80\u53f2\u680f\u76ee\u6765\u548c\u5927\u5bb6\u804a\u804a\u201c\u4e00\u5bb6\u5386\u7ecf\u6570\u6b21\u5371\u673a\uff0c\u4f9d\u7136\u5c79\u7acb\u4e0d\u5012\u201d\u91d1\u878d\u5e1d\u56fd\u5de8\u5934\uff1a\uff08Goldman Sachs\uff09\uff0c\u4e5f\u5c31\u662f\u9ad8\u76db\u96c6\u56e2\u3002 \u9ad8\u76db\u8fd9\u5bb6\u516c\u53f8\u521b\u7acb\u4e8e1869\u5e74\uff0c\u81f3\u4eca\u5df2\u8fd0\u8425147\u5e74\u3002\u5bb6\u65cf\u5f0f\u7ecf […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-902","post","type-post","status-publish","format-standard","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/www.houquner.com\/index.php\/wp-json\/wp\/v2\/posts\/902"}],"collection":[{"href":"https:\/\/www.houquner.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.houquner.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.houquner.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.houquner.com\/index.php\/wp-json\/wp\/v2\/comments?post=902"}],"version-history":[{"count":1,"href":"https:\/\/www.houquner.com\/index.php\/wp-json\/wp\/v2\/posts\/902\/revisions"}],"predecessor-version":[{"id":907,"href":"https:\/\/www.houquner.com\/index.php\/wp-json\/wp\/v2\/posts\/902\/revisions\/907"}],"wp:attachment":[{"href":"https:\/\/www.houquner.com\/index.php\/wp-json\/wp\/v2\/media?parent=902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.houquner.com\/index.php\/wp-json\/wp\/v2\/categories?post=902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.houquner.com\/index.php\/wp-json\/wp\/v2\/tags?post=902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}