кѥ˥塼

޸Ρкѥ˥塼̤ưͻ֥Ǥϵ岹Ȳ˻ߤΤúи󾧤ޤиӽиȤϰ㤤ޤߤʴ㤤ΤǤ

2016ǯ02

G20ƹ񤬡Ū;͵ϤäȺưѶŪˤʤ٤ʸޤܤ䲤ʤɤФޥʥʤɶͻ٤ǤϤʤţɤΤǤ

ޤĥƹϰ餷ƤǤĤơΤ褦⤢äƤǯ⤷ƤʤΤ2016ǯ٤äľ˷ʵкΤ緿ͽȤ٤ʤȤʤɤФƤΤǤ

̱̳Ĺ

¿ι̱¿դƤккѶ˺˺žƤȤ

֡ܤˤƤȻפѶŪˤ뤳Ȥ

̳

ʳкѤθ®ʤɤƧޤɲäκưˤĤơˡɬפȽǤеưŪбƤ
ΤȤ

ʣǯ٤äƤ˷ʵкͽƤǽˤĤơˡַкѾˤ

ıϺմ˼Ϳ

ʿʷккɬ򼨤ǡˡ֣٤εϤɤ


Τ͡ʤΤǤϤȸ

ä̳ĹĻͿ

ޤ̳ϡ֣ǯͽơʤι񿳵ġˤοúˡμäʤƤǤˤʤפȤäƤΤǡƻʬäƤȻפΤǤ

ɴäơ˹ʤưɬפȤΤǤСͽΤΤ۽٤ǤϤʤǤʤ龯ʤƤڤ̤롪

ˤɲäκưɬפȤΤǤ礦

Ʊְ㤤򤹤еդΤǤ礦

ꥫˤƤߤСо˸äƺưΤäǤΤȸСꥫʷоֻǤ뤫ǤĤޤꡢܤɥĤʤɤηо΢¦ˤƹηоֻΤǡܤʤɤηо񤬺ưСˤäܤʤɤηоۤĤʤƹηоֻϽ̾Ȥɤߤ뤫Ǥ

äȤ⡢Ϸкѳؤζʽˤ񤤤Ƥäǡܤʤɤ礷Ȥƹηоֻ̾Ȥϸ¤ʤΤǤΤʤ뤫Ωޤ

ˤƤ⡢Τ褦ʳܤϷʵкȤƤ緿ͽȤळȤ㲽ƤޤäƤΤǤ

Ǥ⡢λ緿ͽʤơäƤΤȸ

Ǥ礦椬μΨ¾ʹ٤Ƥɤ㤤ˤΤΤʤΤǤ礦ơͭΨɤۤɹ⤯ʤäƤ뤫ΤʤΤǤ礦䤢ΥХ֥ƱۤɤˤޤǤʤäƤΤǤ

ǸСͼ­

ʤȤˡưƤ̣ޤ󡣿ͼ­ع󤯤ʤʤΤǤ

ˡΤ褦ʥ˥塼ήƤޤ

ȣʬΣĶࡡͼ­ǡꡦܾסʹ

̺ҤϤ˹ʤɤߤư¥ʤ٤ꡢꡢܾξǻȤ򤵤줿ȼԤΤʤȤ⣴ʬΣʾ夬षƤȤʹĴ٤ʬäξˤȡդ׷Ȥʤϸ̱θѿͼ­dzݤǤʤʤä¿ȤפιޤʤɤζȼϰϫƯϤ椷ϤλȺ˸ȤʤäƤ֤⤫


줬ܷкѤμ֤ʤΤǤ

ǤʵкΤͽɬפȤΤǤ礦

Х٤ߵ٤߸äߤȻפޤ



ȤäơФ黵ȤФͤƤΤʡȻפäå򤪴ꤤפޤ

͵blog󥭥󥰤

Υȥ꡼ϤƤʥ֥åޡɲ

ǯƹг̳ƤͳˤĤƹͻƤߤޤ

μͳȤΤϡǰ׼٤о٤˰ƤȤȤǤϤʤȤˤƹμƤ뤳Ȥˤ뤳ȤʬޤľȤƤ⡢ơڷȤƤ⡢ȤˤƤΤǤ

Ȥˤ

ͤƤǤ礦

âư2015ǯ79ˤʤ礭ѤƤޤ

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Ȥγͭȳδط

Ȥˤͭʾڷʬˤư򼨤Ƥޤ

2014ǯ10122015ǯ132015ǯ46ȡ6.7ɥοǿܤƤΤǤ줬2015ǯ79ˤʤ6.1ɥ٤ˤޤǵ޸ƤΤǤ

ơǼNYߤȡĴ碌褦˳Ƥ뤳Ȥʬޤ

褯ܤγϡ㤤ۤˤʤ뤫ۤˤʤ뤫ˤäƷޤʤƸޤƹγⳤȤȤʬΤǤ

G20ǤϡǯäƤͻԾ줬԰ˤʤäƤ뤳Ȥ˾ޤ

ͻԾ줬԰ʤƸäƤ⡢̤ˤϤ褯ʬʤȻפΤǤļ¤ϡϳԾ̣פ˳äѤȸäƤΤΤǤ

ǤϡγäƤ뤫ȸСĺŪͳϤͤˤƤ⡢פ˳񤫤Ƥ뤫ʤΤǤ

ǤϡΤΤ褦˹񶭤ޤΰư㤷ʤäƤ뤫ȸС׹ϰԤĹĶºä굡褦ʤȤ򤷤Ƥ뤫ʤΤǤ

Ǥ⡢ΤȤˤĤƤϰڿʤǡͻǤϽʬǤʤư򤷤ʤơ

֤ǤкѤθ®ˤƤ⡢꡼ޥ󥷥åαƶ¤餲뤿絬Ϥʺư򤷤ޤ줿깽¤⤿餷Ƥ뤳Ȥ˺ƤϤޤ

ˤƤ⡢;ˤ˺ΤϡɤƤȻϻפޤ







ƹγ⡢ȼʤΤȻפäå򤪴ꤤפޤ

͵blog󥭥󥰤
Υȥ꡼ϤƤʥ֥åޡɲ

ʤΤˤ⹴餺֥˥ĺ꤬Ȥޤ

ơϡƹг̳Ĺ⤬ȴƵۤˤʤäƤ뤳Ȥ򤪼ޤ

¾ι٤Ƥɤۤ礭򼨤ʤΤǡϡɤΤ褦ʥڡг̳Ĺ⤬Ƥ뤫򤪼Ȼפޤ

դ

ƹг񻺻Ĺ

2014ǯޤǤοܤ򼨤Ƥޤ뤫˸г̳Ĺ⤬ǯƤͻҤƤȤΤǤ

˥դ

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ʻнꡧƾ̳ʡ

ϻȾοͤ򼨤Τǡ2015ǯ3ȾޤǤưʬޤ

ϤۤɿꤨƤʤȤ٤Ǥ礦

ǤϡΤʤ˽̳Ĺ⤬Ƥ뤫ȸС

⤦ĥդ

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ʻнꡧƾ̳ʡ

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г񻺤οӰʾг̳οӤ礭ȤʬȻפޤ

Ǥϡг̳ϲοӤƤ뤫Ȥ򸫤ƤߤȡľȤƤγڷȤƤγ¿ȤͳʤΤǤ

פˡΥޥ͡ƹγԾήߡƹγ٤ȤΤǤ

Ǥ⡢äƳϹĴˤʤäƤ⡢ƹгݥ󤬰ΤǤϡǴˤϤʤΤǤ

ä粽̳ϡĤǽ뤫Ǥ

Ѵʾ֤Ǥ礦

פޤ󤫡

ˤƤ⡢ƹг̳ʱ³ˤϤʤΤǤ


ƹγХ֥ʤΤȻפäå򤪴ꤤפޤ

͵blog󥭥󥰤
Υȥ꡼ϤƤʥ֥åޡɲ

⡢峤Ծͤ򲼤Ƥޤ

θʤΤǤ礦

Ȥ⡢ͤΤְäƤơ⤦Ƥȹͤ٤ʤΤǤ礦

ˤƤ⡢ǯäƤкѤƩסޤäƤΤǤ

кѤθ®ɤˤ٤ʤΤȤ⡢ʤ㲼ɤˤ٤ʤΤϡ̲߰¶ɤˤ٤ʤΤ

ޤ礭Ǥˤϰ㤤ʤȻפΤǤĤ˺ƤϤޤ󤫡

ȤΤ⡢ΤޤޤǤкѤ³ŪĹ³뤳ȤϺǤȻפ뤫Ǥ

ƹΥ롼̳Ĺϡإ졼Ȥ˴ؤΤ褦˸äƤޤ

If we could get to a place where there were a sustained expectation of growth on a healthy level in the major economies around the world, that's what would actually lead to a natural balance in exchange rates.

ηк񤬷ʥ٥Ĺ³뤳ȤΤǤ郎С줳إ졼Ȥ˶ѹդǤ

פˡɤι񤬿ͰŪ˼ΰإ졼Ȥ㤯ݤĤȤˤä͢жϤݻ褦Ȥ򤷤Ƥ⡢äϻ³ǽʤĹ³ΤǤϤʤȸäƤΤǤ



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񻺻Ĺ

μ׹г񻺤򼨤Ƥޤ

ܤν񻺹ȤΤϤ¸ΤǤ͡GDPǤȴ3̤ϰ̤˴Ť󤸤Ƥޤ񻺻Ĺ366ߤ⤢ꡢʤΤǤ

ܤθˤ񡢥ɥĤʤɤ¤ǤȿФ˰ֽ̳¿ȤΤϡΤȤƹʤΤǤ⡢εϤ834ߡ

ƹϡȤлҤֻƤ뤿˽̳ĹĤФꡣ

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졢ƥʥ֥롢Ĥޤꡢ³ǽʤȤȻפޤ

ʤȤʤǤ͡

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ʤлҤֻäơ³ǽϤʤΤǤ

Ĥϡ³ˬǤ礦

޷˺̳餷˼Ȥȷʵ쵤䤨ޤƤޤʤԶ
ˬǤ礦顢ݤƤʤʤ꤬դʤ

ƹ񤬵޷˺̳򸺤餹ȤʤɤǤȦϤʤǤ礦ʤƤGDPǤߤʤ٤ϤϤ٤ǤϤʤΤǤ礦

ϸƸ̤դ򤹤ΤǤ͡






Ȥϡ礭ꤷΤʤȻפäå򤪴ꤤפޤ

͵blog󥭥󥰤
Υȥ꡼ϤƤʥ֥åޡɲ

G20ˡƹΥ롼̳Ĺ󥿥ӥ塼˱Ƥޤ

ƹϡܤˤɤʤȤƤΤǤ礦

ܤˤĤä˸ڤƤĽ򤴾Ҳ𤷤Ȼפޤ

Q: There's a perception that currency movements are being driven by diverging monetary policy, that there's a beggar-thy-neighbor going on. Should there be more coordination than we have now on exchange-rate policy?

ֶͻ¿Ͳ뤳Ȥˤä̲ߤư®ƤȤǧ롣Ĥޤꡢٵ˳ʤǤ롢ȡإ졼˴ؤ桹ϤäȶĴ٤ʤΤ

SEC. LEW: There's a need for clearer communication and coordination amongst fiscal and monetary authorities so that there is a pathway forward that can alleviate some of the anxieties that we see around the world today. At the core, we have divergent economic performances in different economies. The U.S. economy...is continuing to perform better than other economies. In other countries we're seeing disparate economic performance and the attempt to use different levers to move their economies forward. I think the more there is reliance on the full range of tools, the more effective the response would be. So overreliance on any one tool will be less effective.

ֺˤƸ԰¤˺ڤӶͻɤջ̤褯Ĵɬפ롣ܤΤȤǤϡ񤬰ۤʤСкѥѥեޥ󥹤ˤ㤤ȤȤƹкѤϡ¾ι٤ɹʼӤ򼨤Ƥ롣¾ι񡹤ϡۤʤä̤򼨤ƤꡢкѤʤ뤿˲桹Ȥϰۤʤäʤ֤Ƥ롣ϡ餬¿ͤʼʤѤФۤɡŪˤʤȻפĤμʤˤΤ᤮ΤǤϸ̤ʤ

SEC. LEW: The commitment in the G-20 meetings in Turkey to refrain from competitive devaluation is a kind of coordination. The principle that each monetary and fiscal authority has to have the authority to take actions to move their own domestic economy forward is not license to do things that would undermine the global system or create unfair advantage.

̲߲ͤڤ겼򿵤Ȥȥ륳ǤG20«ϡĤζĴ̤Ǥ롣줾ζͻɤϼʬιкѤʤ뤿֤֤͡뤳ȤǤ뤬ȤäкѤ˳ͿꡢԸʤȤ򤹤뤳ȤǧǤϤʤ

The conversation we have to have is, how do you grow the global economic pie, and how do you have exchange rates naturally equilibrate because you have growth in more parts of the world? If we could get to a place where there were a sustained expectation of growth on a healthy level in the major economies around the world, that's what would actually lead to a natural balance in exchange rates.

äʤФʤʤȤϡǡˤкѤΥѥ礹뤫Ȥȡơǡˤưإ졼Ȥ˶ѹդ뤫ȤȤǤ롣ȤΤ⡢¿ϰĹߤ뤫Ǥ롣ηк񤬷ʥ٥Ĺ³뤳ȤΤǤ郎С줳إ졼Ȥ˶ѹդǤ

Q: One interpretation of what we're seeing in exchange rates is that, while they do reflect legitimate monetary policy actions, those monetary policy actions themselves are overburdened by the absence of fiscal emphasis.

ְإ졼Ȥ˴ؤƸߵƤ뤳ȤΰĤβϡߤΰإ졼Ȥϡʶͻ֤ȿǤƤΤΡϤηǡΤ˶ͻô᤮ƤȤȤ

SEC. LEW: We're almost like a broken record on the need for fiscal tools to be used in a more muscular way in many parts of the world. It was a good job that Japan deferred implementing a round of value-added tax increases. We encouraged them to put in place more stimulative fiscal policies. And it's hard for Japan. Japan has a [debt of more than] 200 percent of GDP. They have a long-term need to raise revenue and control spending. But in order to emerge from the decades of soft economic performance, they couldn't risk falling back into a recession driven by an avoidable policy.

ֲ桹ؤɲ줿쥳ɤΤ褦˲٤ƱȤäƤ롣¿ϰǡä϶ɬפȤȤܤǤǤꤷΤɤȤǤä桹ϡäȺư򤹤٤ܤ˸äƤܤˤȤäƤ񤷤ȤǤ롣ܤGDP200%Ķ̳Ƥ뤫ĹŪǺ䤷ٽФɬפ롣ǯˤˤкڤȴФˡǤˤäƺƤӥꥻå˵ꤹꥹȤϤǤʤǤ

In Europe, we've been clear that we think that where there's fiscal space, it should be used. There's some increase in spending due to managing the influx of refugees that is net stimulative, but it's obviously not at the magnitude that would move the whole European economy.

ֲϡ;ϤȤߤƤΤǡѤ٤̱ή뤿λٽФƤꡢϻɷ̤뤬кΤưۤɤ礭ǤϤʤȤ餫

China has increasingly been clear in saying that they need to have fiscal policies as well as monetary policies to address short- and medium-term economic conditions. The more that's focused on stimulating consumer demand, the more helpful it will be to deepening the transition that's going on in China's economy.

ϡûŪڤŪкн褹뤿˶ͻȺưɬפȸäƤ롣Ԥμפɷ㤹˾ۤɡкѤι¤פˤȤäͭפȤʤ

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 Q: There's a presidential candidate who wants to name China a currency manipulator and pursue a very hard line against them once he's in office. Is that helpful?

̾ؤΤ˽ǤǤˤϡ˸ꤿȤθ䤬롣ͭפǤ

SEC. LEW: We have gotten [China] to agree to a number of principles and policies that have moved things in a very positive direction. If you look at what we have said to them privately and what we've read out publicly, what we've put in our reports, we have been very clear about what we think the right thing to do is. And I think we have made a lot of progress. I'm not going to comment on other approaches except our own.

ֲ桹ϡФơ֤ŪƳ§˹դƤ롣䤿ŪˤɤȤäƤơˤɤʤȤɤ߾夲ƤƤޤɤʤȤǽҤ٤ƤĴ٤Ƥ館СɤΤ褦ʤȤ򤹤٤Ȳ桹ͤƤ뤫餫ˤʤ롣ޤǤѤʿ򸫤Ƥ롣¾ͤΤ˥ȤĤϤʤ


ǡǤ礦

ƹϡܤǤꤷΤɤäɾƤޤơͻˤΤǤϤʤư٤ȸäƤΤǡ˾ǤǤꤷȤȤˤʤΤǤ礦

ΰǡܤGDP̳Ψ200%˾äƤΤǡĹŪˤϺγݤȺнФκ︺ɬפȡ

ƤޤǤ⡢ưʤСƤӥꥻåꤷƤޤȶ

ɤäͤ

ޤˤƤ⡢ƹ񤬸äƤ뤳ȤϽؤѤäƤ餺ΤȤͤȡG20Ǥʰ̣ΤդȤϻפޤ





ܤ100ߤƹˤߤƤΤˡΰΤ˸ɬפΤȻפäå򤪴ꤤפޤ

͵blog󥭥󥰤
Υȥ꡼ϤƤʥ֥åޡɲ

ī饸Υ˥塼ʹƤ顢ҥ꡼ȥ󤬡ܤ̲ߤƤ뤳ȤȽƤΤޤ
֥ꥫ˸̱ޤΩ䤷Ƥ륯ȥ̳ĹϣԣУСʿΥѡȥʡå׶ˤĤȿФȤȤˡܤ͢Фͭˤ뤿߰¤ͶƳƤȽй֤ͤ򼨤ޤ

֤ޤܡˤۤΥι񡹤̲ߤβͤ򲼤뤳ȤǰտŪ˾ʤ¤ƤפȤܤ͢Фͭˤ뤿߰¤ͶƳƤʤɤȽޤ

⤦ǯƱ褦ʤȤʹƤΤǡΰ̣Ǥ϶äɬפϤʤΤ⤷ޤ󤬡̤ȤơޤܤȽȤϤɤΤ褦ʰ̣ΤǤ礦

ˤʤȤäƤΤ

ʸåƤߤޤ

Made in the U.S.A. — that label has always been a mark of quality and pride around the world. American manufacturing has gone through hard times, but were working our way back from the worst of the economic crisis. Under President Obama, weve saved the auto industry and added over 900,000 manufacturing jobs. Exports are up 40 percent.

ƹסΥ٥ϡΤɤǤˡʼȥץ饤ɤΰǤ³Ƥꥫ¤ȤϸиǰηкѴȴФƤХΤβǼưֻȤߤä90ʾο¤Ȥɲä͢Ф40%Ӥ

But even those hard-won gains are at risk. A stronger dollar, slowing Chinese economy and global economic turbulence mean that workers in industries from steel to auto parts are facing headwinds. At the same time, China and other countries are using underhanded and unfair trade practices to tilt the playing field against American workers and businesses. When they dump cheap products in our markets, subsidize state-owned enterprises, manipulate currencies and discriminate against American companies, our middle class pays the price. That has to stop.

֤ƶϫΤΤƤ롣ɥкѤθ®кѤκϡŴݤ鼫ưʤ뻺ȤƯϫƯԤƤ뤳Ȥ̣롣Ʊˡ¾ι񡹤ϡƹϫƯԤȴȤˤʤ褦ʴԤԻȤƤ롣餬椬λԾ˰¤ʤȤĴȤͿȤ̲ߤȤơƹδȤ̤Ȥ椬滺ϵȤʤΤϻߤᤵʤФʤʤ

Ninety-five percent of Americas potential customers live overseas, so closing ourselves off to trade is not a solution. But we have to make sure we are all playing by the same rules. As a U.S. senator, I pressured the Bush administration to get tougher on China. When I was secretary of state, I fought to protect American workers in the global marketplace. As president, my goal will be to win the global competition for the good-paying manufacturing jobs of the future.

ƹŪܵҤ95%ϳ˵サƤ롣Τ᳤Ȥμߤ뤳ȤϲˤϤʤʤ桹ƤƱ롼dzư뤳ȤΤʤΤˤʤФʤʤ屡İȤơ˸褦˥֥å˰Ϥ򤫤̳ĹǤäȤϡԾˤƹϫƯԤ뤿ʳƮΤȤƤλɸϡȤζǤ¤ȤλŻ᤹Ȥ

First, we have to strongly enforce trade rules to ensure that American workers arent being cheated. Too often, the federal government has put the burden of initiating trade cases on workers and unions, and failed to take action until after the damage is done and workers have been laid off. Thats backward: The government should be enforcing the law from the beginning, and workers should be able to focus on doing their jobs. To make sure it gets done, we should establish and empower a new chief trade prosecutor reporting directly to the president, triple the number of trade enforcement officers and build new early-warning systems so we can intervene before trade violations cost American jobs. We should also hold other countries accountable for meeting internationally sanctioned labor standards — fighting against child and slave labor and for the basic rights of workers to organize around the world.

ˡ桹ϡƹϫƯԤ٤ʤ褦ˤ뤿ǰץ롼Ϥ˼ԤʤФʤʤϢˮܤʤμ֤ϫƯԤϫƯȹ˲դ³ȯϫƯԤ쥤դޤǼʤȤ;ˤ¿äϸǤ롣ܤϡǽ餫ˡ򼹹ԤʤФʤʤơϫƯԤŻ˽Ǥ褦ˤʤФʤʤμ¤ʤΤˤ뤿ˡ桹ϡľ°ǰ׼֤ơǰפμǤͤο3ܤˤˡƹϫƯԤȤʤʤ˲Ǥ褦ٲΩʤФʤʤơޤŪǧ줿ϫƯ褦¾ιǤݤʤФʤʤŪϫƯȤΤϡҶλѤػߤ뤳ȤǤꡢޤϫƯԤȹ븢ǧ뤳ȤǤ

Second, we have to stand up to Chinese abuses. Right now, Washington is considering Beijings request for market economy status. That sounds pretty obscure. But heres the rub — if they get market economy status, it would defang our anti-dumping laws and let cheap products flood into our markets. So we should reply with only one word: No. With thousands of state-owned enterprises; massive subsidies for domestic industry; systematic, state-sponsored efforts to steal business secrets, and a blatant refusal to play by the rules, China is far from a market economy. If China wants to be treated like a market economy, it needs to act like one.

ˡ桹θѤΩʤФʤʤ亮ȥϡ˻ԾкѹΥơǧ٤ɤƤƤ롣ȡۣʹ롣ˤϾ㳲롣⤷񤬻ԾкѹǧС椬Υԥˡϲȴ졢椬λԾˤϰ¤ʤƤޤǡ桹ֻϥΡǤʤФʤʤȤĴȡ⻺ȤФ¿ۤ⡢̩ȿȤưϹ񤬥Хååפ롼˽Ȥεݡ˻ԾкѤȤϤΥ줿Ǥ롣⤷񤬻ԾкѹȤǧߤȤΤǤСʤ˿ɬפ

Third, we need to crack down on currency manipulation — which can be destructive for American workers. China, Japan and other Asian economies kept their goods artificially cheap for years by holding down the value of their currencies. Ive fought against these unfair practices before, and I will do it again. Tough new surveillance, transparency and monitoring regimes are part of the answer — but only part. We need to expand our toolbox to include effective new remedies, such as duties or tariffs and other measures

軰ˡ桹ϡƹϫƯԤˤȤäƳ⤿餹̲ޤɬפ롣ܡڤӤʳΥϡ̲ߤβͤ¤뤳ȤˤäĹǯδ֡ʤβʤͰŪ˰¤ݤäƤϡĤƤԸʤȿФƤơƤȿФ롣ƻ롢ƩƻȤȤʤ줬ƤǤϤʤǤ¾μʤѤ٤Ǥ


⤦³ΤǤդǻߤƤޤ

äѤꡢȽоݤϼǤäܤǤϤʤΤǤ礦ƹμưֻȤˤȤäư֤ŨܤǤΤǡϤܤϳʤȤȤǤ礦

Ψľ˸äơΤܤϱ߰¤ͶƳ뤳Ȥˤä͢жϤݻ褦ȤƤΤ⤷ޤ

äơΰ̣餹СزĶºܤ̲߲ͤ˲Ϥ򤫤ƹλȤȤФäΤϤΤȤǤ礦

ƹ񼫿Ȥ⡢Ūºʤɡɥβͤ򲼤ѤƤǤϤʤǤ

顢ɤƤܤйȤΤǤСĤޤǤĶº³Фá

Ǥ⡢ϤǤʤΤǤ͡

äơƹлҤֻǤ

Ĥޤꡢƹζܤζ㤯ʤСİ쵤˥ɥ¡߹ȤʤǤ

ʤȡɤʤޤ

ƹ¤Ȥ褹뤫⤷ޤ󤬡īͼˤϼ¸ʤǤ礦

äƻ֤в᤹ˡܤƹ˸äƤήϥȥåפƤޤǤ礦Τʤܤζƹζ㤯ơ̥ϤʤʤäƤ뤫Ǥ

ץ饹ɥ¤ޤޤ³Ǥȳʤ顢㤤˰غ»ޤǡʤïƹĤ㤪ȤϻפʤʤäƤޤΤǤ

ɡʤƹϢˮܤ϶꤬ⷫդþ뤷ʤΤǤ

顢ƹȤƤϡʤɤ˰ϻߤȤʤΤǤ

âܤ̤ƹĤͭƤ¤ϤɤɾƤΤǤ礦

ϡܤեƹϢˮܤٱ礷Ƥ뤳ȤˤϤʤʤΤǤ礦

äƼʬƤ벸ä̵뤷Ҥ¾򰭤äƻٻΨ夲äʤΤǤ

ˡɤƤƹ񤬼¤Ȥ褵ȤΤǤСñ¶˲ФäǤϤʤǤʤСإ졼ȤʤƤؤΥåѡ

Ǥ⡢²ʤƤǤʤΤǤ͡





ҥ꡼ȥϡʬԹΤ褦ʤȤäƤȻפå򤪴ꤤפޤ

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2627峤G20¢ꡦ۲ĤŤޤĺǯäƤγԾĴʧ礯褦ʤȤդΤǤ礦

ɤפޤ

ϡС̵ȡ

Ǥϡͳ򼨤ʤФޤ󤬡ˡG20ǤɤʤȤäΤˤĤƹͤƤߤޤ

椬¢ϡ12˼Τ褦ʤȤäƤޤ
ֺ򺣤ζͻԾξƧޤĴˤĤƸƤʤƤ
ǡ19ˤϼΤ褦ʤȤ
ָ¤䡢ƶͻᤰԾȤä礿ˤʤ
ʬȸȤѤäƤޤ

褺ǽȯϡɥ줬Ⲽ߹˿줿Ȥ˷ٲƽФƤΤǤ

Ǥ⡢߹򤹤뤿ĴʤƸäƤ⡢ƤˤǽϤޤ󡣤äơܤϥޥʥޤƳƱ߰¤ͶƳäΤȸȡ֤դʤǤ

ˤƤ⡢α߹ˤ⾯ƤȤȤǤ礦٤ϡ¤ƹ夲ˤʤȡ

夲ˤƤ⡢ֻԾȤäˤʤפʤƤȡФƤޤǤ

ΤȸСιۤϡľޤǥޥʥƳϤʤȸڤäƤΤˡޥʥƳǤ

ۤϡԾȤäνɤΤ褦˹ͤƤΤǤ礦

ǤϡƹϤɤʤȤͤƤΤȸС̲߰¶βŪ­ؤбˤʤȡ

̲߰¶ȸСǯ̱ڤ겼»ܤ䡢ޥʥƳƤܤȲפ⤫Ǥ

ƤޤŪ­ФƤϡư񤬤ȤΤƹιͤǤΤǡƹܤФơ뤳ȤȸդܤƹФ뤳ȤȸäƤΤǤ

ˡȤϻפޤ󤬡ƹܤ˾졢夲Υڡ٤餻ȤƤӥ᤹褦ʤȤ򤹤СĤȱ߹ⰵϤäƤޤΤǤ

줸㡢ᤸ

ޤܤƹ˾ƺưǤäƽФȤƤ⡢˿ͼ­֤˴٤äƤΤǡȤƤ̤Ȥϻפޤ󡣤äơͼ­ǸȤޤȤ˾òǤʤǤ

ǯĤʪ䤵줿ץߥդʷθ̤⤢äΤɤǤȤ⡢¿μΤǤ12ޤǤξʷȤȤǤʤäΤǡϤ̤ϽФȸäƤǤ礦

ȤȤǡܤƹǤϹͤƤ뤳Ȥ㤦ΤǤ

ޤƲ˷кѤꤵ褦᤿ȤȤǡ⤽꡼ޥ󥷥åкѤ٤뤿񤬹Ԥä絬Ϥʺưθβ߽ФơβʬɬפΤǷкѤ®ƤΤǤ

ȤС򰭤ˤ⤤ޤ󡣤Ȥ⡢νϤɤƤɬפǤꡢäơ¿ηкѤθ®ϻߤʤΤʤΤǤ

ˤĤƤϡɥĶԤηбʤɡʬˤ餤ܤꡢĥ뤳ȤǤʤˤΤǤ

ޤʤä礤äȤǡʤʤɤǥϽФƤʤǤ礦

ޤ٤뤿ɤǥʤʤȯۤ⤽ְäƤΤǤ

ȤΤ⡢ƹĹ餯ĶºǡΥХ֥뤬ȯƤΤǤϤʤȡƤǤƹ񤬥夲ƧڤäǤ顢˲ϤΤǤ礦

ˡǤкѤθ®ϡߤкѤζθȤʤäƤβˤäƤ⤿餵ƤǤ顢βνλޤǡŪʶϲäʤΤǤ

ơΤˤλ֤ɬפȤΤǡǤɤˤʤΤǤϤʤΤǤ





ݲĤ򳫤Ƥ⡢ߤ˸äѤʤǷŪʵǤʤΤǤϤʤȻפå򤪴ꤤפޤ

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Υȥ꡼ϤƤʥ֥åޡɲ

ɥߤϡ1ɥ=112ǿܤƤ褦ǤǯȾ٤10ߤۤɱ߹˿ƤȤǤ礦

ơƱ߹ˤʤΤʤϤʤΤǤ

Ǥϡ߹ϲΤ⤿餵ƤΤ

ϡκεɤߤäϤʬǤ礦

ˤϡ߹ƥإåեɤΤȹͤڤΤǤ

ⶶΰ
֥إåեɤˡ֤ɤ衡۾߹˰زй 219ZAKZAK)

֣ȯɽ줿ΥޥʥϡͻºʤΤǡϱ߰¤Ǥ롣줬ȿФα߹˿졢⡢ۤܤʤ٤礭Ȥʤä

ξβȤͭϤʤΤϡΥեɤλųݤ˻ԾΤäƤޤäǽȡɮԤϤߤƤ롣

ɮԤȤƤޤä򤻤ʤΤϡؤ굡ŪʻųݤƤˤ⤫餺̳ʤ絬ϤʰزԤäƤʤȤ

ϤäꤤСΤ褦礭ưλˡزǻԾ򤫤ơŤ᤹褦˻ŸΤϡ̳ʤǤꡢ̳ȸƤʤȤ˰ز򤷤ʤΤʤ顢̳ʤػ̲פ¤ͭƤ̣ʤ

Ĺ
ľα߹ϰ۾̳ʤϲ٤մ˼Ϳס216륹ȥ꡼ȥ㡼ʥ

Ļϥ롦ȥ꡼ȡ㡼ʥWSJˤǶԤä󥿥ӥ塼ǡľα߹׳Ūˤ۾פǡإåեɤųݤƤ褦ȻŦ֤äơߤ뤿ǤʤⲼɤˡ̳ʤ굡Ԥۤ褤ȻפפȽҤ٤


ǡǤ礦

ҤȺήԤäήԸǤϤʤǤ֤򤷤餤Τȡ

ޤޤǶüʰոǤϤʤˤƤ⡢˵޷ʱ߹⤬ƤΤز򤹤٤Ȥո⤢ΤǤ

Τˡإ졼ȤⲼ򷫤֤褦ǤϡӥͥưޤޤʤʤΤǤ

̳ä⡢10ۤΤ褦˸äƤޤ

ֶĥä뤷ƤƱˡɬפ˱ŬڤбƤס212

ȸäƤǤ礦

ɬפ˱ŬڤбƤȤȤϡز⤢ȤȤʤΤǤ

Ǥ⡢˰زɬפʤΤǤ礦

ΤȸС⤽⤳α߹ϡä褦ˡĹϤĶˤäƤ⤿餵줿ߥ꡼ȥ졼ɤȤδᤷˤäưƤ뤫ʤΤǤ

Ĥޤꡢꥹξ֤ǤϡĶαߤ졢򸵼˿񤷤ƤΤԤƩˤʤäƥꥹդˤʤȡäƤȤưΤǤ

äơإåեɤαƶʤȤϸʤޤǤ⡢α߹ͳ̤ΤȤˤȹͤ٤ǡȤ֤򤷤ʤƼĥǡ˳ΤľʬȻפΤǤ

ˤƤ⡢ޥʥޤƳƤޤäƤܶԡ

Τ褦ʰ۾äƤΤǡʤ⤤ƱߤήФ褦ʾƤΤǤ

äƤޤѴĶѤǿͼ­ˤʤäƤΤˡΤ褦ʾǥޥʥǤФƤΤǤ顣

ơΤ褦ʱߤϡλξ˱Ҵ˹񶭤ưΤǡߤΥ졼ȤⲼ븶ˤʤΤǤ

Ĥޤꡢα߹ϡۤˤäƶ줿ۼδºˤäƤ⤿餵ƤΤǤ顢Τ褦ʱ߹⤬ȤΤǤСޥʥ䥼ߤФäʤΤǤ

ⶶΰμĥٻͤ빽ΤϾΤƤޤܳФˤʤäĺȻפޤ



С¢⤬ʤƤȤäƤʡȻפä饯å򤪴ꤤޤ

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Υȥ꡼ϤƤʥ֥åޡɲ

ǯäƤ߹ⰵϤäƤ褦Ǥ

ο༫ΤϡĤƤ٤Ƥޤޤ߰¿ˤȸäƤ⤷ޤ

ˤƤ⡢ǤϡκǯäƤ߹ⰵϤϤݤäƤ뤫ȸС

кѤθ®¡ɥĶԤʤɲζͻؤηбʤɤĤĤޤꡢꥹդ꤬ʤäƤ뤫Ǥ

ߤϰ񻺤ȤߤʤƤꡢꥹդ꤬ޤȱߤФפޤΤǤ͡

顢߹⡪

ޤޤǤäˤĤƤϡ򤷤Ƥ¿ȻפΤǤǤ⡢αߤϰ񻺤ȤߤʤȤǤΤȸС˵礹ͤ¿ΤǤϤʤǤ礦

˺ߤ񻺤ȤߤʤƤȤƤ⡢줬Ĺ³ΤǤ礦

ǡǤ礦

䡢Ψľ˸äơߤ񻺤ȤΤϡäƤ褦Ǥ⤢ꡢäƤʤ褦Ǥ⤢

ȤΤϡܤνĸǤΤǡΰ̣Ǥϱߤϰ񻺤ȸäƤ褤Ǥ礦

Ȥ顢Υ٥ΥߥȤưʹߡ礭߰¤˿줿ΤǤ礦

ˡܤGDP̳ĹΨϡʹΤʤǤϷȴƹ⤤

ΰ̣ǤϡۤɶĥäƱߤϰ񻺤Ȥϸʤ⤷ޤ

Ǥϡߤ񻺤Ǥ뤫ɤ̤ȤơΥꥹդˤʤȱߤФפޤΤǤ礦

¤ϡ䤤ΤϤۤ񤷤Ϥޤ

ȤΤ⡢ꥹξ֤ǡȤܤ饮鵱ƤȤĤޤꡢ˥ޥ륹ԥåĤʤȤȤΤϡ񸻹ФˤʤĤΤ褦ʤȤθˤʤΤߤˤʤ뤫ǤĤޤĶαߤĴãоݹ̲ߤȸ򴹤񤹤롢ȡ

ߥ꡼ȥ졼ɤȤȤǤ͡

ǡߥ꡼ȥ졼ɤȤΤϡᤷȸդ褦ˡкѤԤƩˤʤȡդή줬ΤDZߤФפޤΤǤ

ޤ̣гΤ˱ߤϡ񻺤Ǥȸ褦ʵ⤷ޤĹǯߥ꡼ȥ졼ɤƤͳϡ䤬ĹǯƺޥʥޤƳ褦ʤȤ򤷤Ƥ뤫ʤΤǤ

ȤСˡܤζबۤ㤯ʤʤСߥ꡼ȥ졼ɡơߥ꡼ȥ졼ɤδᤷⵯʤǤ顢ꥹդˤʤäƤ߹ˤʤ뤳ȤϤʤǤ礦

Ĥޤꡢ䤬夲Сܤ⡢ꥹդˤʤб߰¤ˤʤäơ줬ʵ򲼻٤ǽ롢ȡ



ǯкѤŪ˴٤äȤ˸¤äƱ߹⤬ƤΤϡĶºΤǤäΤǤ

С߰¤ˤ뤿ĶˤäкѤŪ˴٤äȤĶ߹ƤΤǤ



ߤ񻺤Ǥȸ뤳Ȥΰ̣ʬä⤷ʤȤå򤪴ꤤפޤĤ֥ɤDzäơ꤬Ȥޤ

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19˴ڹ񤬳ٻԾ˲󤸤Ƥޤ⡢줬˶ϤʲʤΤȤ

ɤפޤ

ڹ⡢¤ͶƳ͢жϤ夲褦ȤƤΤĤʤƻפäƤϤޤ衣ȿФʤΤǤͶƳǤϤʤ㤤٤뤿βԤäƤΤǤ

դ



2ǯ֤ۤɤΥοܤ򼨤ΤǤ

ĤƤ1ɥ=1000󶯤οˤäΤǯäƤ1200οǿܤƤΤǤ͡

줬34ۤɤǤɤɤ󥦥¤ʤߡ1ɥ1240ۤɤˤޤãƤΤǤ

դǤϥǡδط塢轵ʬΥǡޤǤСƤޤΤǤλ

ޤߤȤϥ㤦Τʬˤ⤷ޤ󤬡ߤ좤ʤС1ɥ=100߶ǤäΤ1ɥ=120οˤޤDZ߰¤ʤߡ줬1֤ۤɤǤ1ɥ=124ߤۤɤˤޤǤʤäΤƱ褦ʤΤʤΤǤ

ܤä顢߰¤ʤΤƱ˳夬ĤȤȤǤषޤ¿ȻפΤǤڹǤ꤬ۤʤΤǤ

˽ͤʤ㤤٤衢ȡ

ǤϡΤʤ˴ڹܤмˤʤäƤ뤫ȸСļΤ褦ʤȤȻפΤǤ

ʣ˴ڹγ߽3636ɥ뤢ȸƤޤ2014ǯߡˤΤƹĤλĹ691ɥ2015ǯ10ߡˤǤäơľ˴ǽʤΤʤ

ʣ˴ڹξ硢г̳Τ1ǯ̤û̳礬Ȥƹ⤤Ūˤϡ2015ǯ9ǡ4236ɥг̳Τ1252ɥ뤬û̳ȤΤǤ

Ĥޤꡢǯǯ1250ɥۤɤֺѻɤ餫DZФɬפǤûνФ꤬ڤ괹˱ʤ֤ˤǤ٤ȡ¾ǡľ˸ⲽǽʶۤƹĤDZѤƤ700ɥ٤ʤΤǡ԰ʾ֤ˤȤȤʤΤǤ

ȤȤǡ塢ڹ񤫤̲ߥåפκƳޤǰʾ˶ʤ뤳Ȥͤޤ

ܤŤ٤ȡڹμϤꤹФǡڹΤˤʤʤΤǤ

ˤƤ⡢ƹϷ̤ǤϤڹ˶ϤƤäƤΤˡͻ̤ǤλٱϹԤʤΤǤ͡




̲ߥåפϺƳ٤ǤϤʤȻפå򤪴ꤤפޤ

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