кѥ˥塼

޸Ρкѥ˥塼̤ưͻ֥Ǥϵ岹Ȳ˻ߤΤúи󾧤ޤиӽиȤϰ㤤ޤߤʴ㤤ΤǤ

2016ǯ08

ɼԤĺޤ

ּʤΤǤFRB夲ɤȤտ路ơΩפȤդФƤޤѤʤ餽줬ɤΤʤΤ 褯狼ޤ󡣾ܤƤȤϤǤʤǤ礦夲ˤϺǶ᤽θդФƤΤǵˤʤޤ

ǥ缭βˤϡΩȤϡַʵɷ⤷ʤȤ롢ûοפʤƽ񤫤Ƥޤ

Ūˡ夲ȷʵᡢȿФ˶򲼤ȷʵɷ㤹̤뤳ȤǤȻפΤǤʵФΩŪǤ褦ʿζȤȤʤΤǤ͡

Ĥޤꡢ⤯㤯ʤࡣ

ޤкѳؤΥƥȤǤϡΨȤդȤ뤳Ȥ¿ΤǤķʵɷ㤷ʤȤȤϡˤäʪ夬뤳ȤϤʤʵʤȤȤϡˤäʪ뤳ȤʤȤȤǡʪ夲⤷ʤа⤷ʤΨΩȤȤˤʤΤǤ

ơμΨΩϡĹΨƱˤʤȸƤޤ

ĹΨƱˤʤΤǤ礦

ĹΨȤΤȤ򵯤ʿŪʴԼΨƱȤߤʤСԼΨΨ⤱СڤƻȤ»ܤ褦ȤͤȿФ˴ԼΨΨ㤱СȤ򤷤褦Ȥͤʤʤ뤫Ǥ͡

Ǥϡƹ夲äȥåȤǼΨ夲뤫ȸСΨ⤤֡ĤޤꡢкѤĹΨ⤤褦ʾ֤Ǥ夲䤹ΤФȿФ˷ʵΥԡɤߤäƤ褦ʾ֤ǤϼΨ㲼Ƥ뤿夲򤹤Τʤȹͤ뤫Ǥ

פˡƹηкѤĹΨڤӼΨĤƤ㲼ƤΤǤС夲ʤȤͤʤȤȤǤ

ݤäܤξˤϡǯ1ޥʥƳꤷޤطʤˤĹΨڤӼΨ㲼ƤꡢΤ˥ޥʥʤȹͤ줿餫⤷ޤ

ʾ夬ΩϼΨΰŪǤ

Υ֥ɤͤϡμ­ƤϤޤ

ȤΤ⡢ȤơΨȤͤ줿ȤƤ⡢㤨СܷкѤˤΤ褦ʹͤľŬѤǤ뤫ȤС礤˵䤬뤫Ǥ

Ψϡʵɷ㤹뤳Ȥʤа뤳ȤʤΨ϶ȸޤĤޤꡢʪ夲뤳Ȥʤа뤳ȤʤΨ϶ȤʤǤĺܤǡɤޤǶ򲼤ʪ夬ȸΤȸвȤʤʤΤǤ

פˡʪδϢǤʤʤäƤƤȤȤʤΤǤ

ʽꤷƤ褦ʥɤʡĤޤ곤Ȥδط̵뤷ΥǥǤϡʪδϢͭ뤳ȤưפǤǤΤ褦˳ȤμˤʤäƤǤϡ¤ʤ̤ήƤ뤿ˡ𤳤ʪФ礭ʱƶͿƤ뤫ʤΤǤ

ˡ򲼤ƤܤδȤѶŪˤʤȤϤޤ

ΤǤ礦

ϡ˰¤ϫƯϤ¸ߤƤ뤫ʤΤǤĤޤꡢ˴ȤȤƤǽϤ夲ͤȤƤ⡢ͷΰ¤˹ߤ뤳ȤˤʤС񤬳ȯˤʤ뤳ȤϤʤǤ

ơΰǡȲȷζ뤳Ȥ顢ʬθ⤿餷ޤ

Ĥޤꡢ뤳Ȥ˷кѳưɷ㤹Ȥ󤽤ΤΤܤˤƤϤޤʤʤäƤΤǤ

ޤͤʤƤȡ⤽ޤᡢԤΤäƤ뤳ȤŬڤʤȤʤΤȤ䤬ͯƤΤǤ

зʵϻɷ㤵ΤȤƥ쥪פιͤϡʤƤޥʥˤʤäϸľʤǤϤʤΤǤ礦



򲼤굡ϻɷ㤵ηкѤޤǻɷ㤵ȤξڤϤʤȻפå򤪴ꤤפޤ

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Υȥ꡼ϤƤʥ֥åޡɲ

ǶᡢܤӤƤإꥳץޥ͡ȤΤޤ

إꥳץޥ͡ȤΤϲȤȡ

ԤΥإꥳץ餪Фޤ褦ʤȤ򤹤Сǥե줫ɬæѤ뤳Ȥǽȡ

Ǥ⡢ȡܤ̱ˤۤΤƱǤϤʤȤͤ⤤뤫ȻפΤǤ

㤦Τϡܤ̱ˤۤˤϤκ⸻Ƥɬפ롢ĤޤꡢĤȯԤƺ⸻ݤɬפΤФإꥳץޥ͡ϡԤľܤФޤΤǡܤڶ⤹ɬפʤΥ᡼ȤǤ

Ԥ̵Ǥ̱ۤ뤳ȤϤޤ

ФǤϤޤ󤬡ʤȤ򤹤СԤϤ̳ĶˤʤäƤޤǤ

Ǥϡɤ뤫

ȤȤǡԤϤäơܤȯԤʵ׹Ĥȸ򴹤ܤ̱ˤФޤФ褤ȸƤΤǤ

ޤ̵ʤȤ򤹤Хǥե줫æѤϲǽȤΤǤ

Ǥ͡äơ̱Ư⤻餷ƤΤ뤳ȤǤΤǡΤ񤵤Τ̤礭ʤäơʪ夬뤳ȤǤ礦

Ǥϡ뤳ȤˤäƷкѤϤޤ꤯ΤǤ礦

ϥΡ

ΤʤСƯȤʤ⤬뤳Ȥи̱ϡ˥إꥳץޥ͡׵᤹褦ˤʤǤ

˴̱ξߤޤäȤƤ⡢ξоݤΰǤ¤ʤʤ뤳ȤϴԤǤʤǤ

إꥳץޥ͡ĥ͡ϡܷкѤĹΨ㤤Ͼ񤬼夤Ȥˤȹͤäơ񤵤ǤΤǤкƤĹΨ⤯ʤȻפǤ褦˸ǤξƤ⡢оݤ¤ʤǤй뤳ȤϤʤΤǤ

ˤƤ⡢إꥳץޥ͡Τ褦ǡȤСޤǰʾܤμڶФꡣ

ܤμڶϹ̱ˤȤäƤλ񻺤ʤƸڤޤإꥳץޥ͡κĸԤǤäƹ̱ǤϤʤΤǤ

ޤǤϤʤ̤ܤμڶǤ⡢κ̳Ĺ򤤤ĤˤɬפȤȤϤʤȤƤ⡢ʤƤ⤽λĹ⤬ʤ٤ϤΤǤ顢ʤȤɤƤ⾭Ǥ˷ӤĤƤޤΤǤ

ǤȤʤСƤӷкѤĹ˳Τϻ¡

٥ΥߥȤڶΥեɤϡʤѤʤƤͻǥե򵯤ФǽʬäƤΤϺȤ߹碌뤳ȤɬפȤʤäƤƤޤ

Ǥ⡢Ȥ߹碌ȤƤ⡢ä褦ͳǡкѤžȤϤȤƤפޤ


ɡưη̡̱ˤϤŤôʤΤǤ



ڶΤĤ˲դ褦ȤȤϵʤȻפå򤪴ꤤפޤ

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Υȥ꡼ϤƤʥ֥åޡɲ

Ĥޤǡ1ɥ100äΤ1ɥ102ˤޤDZ߰¤ʤǤޤ

߰¤ʤǤͳϡ㥯ۡǤΥĹȯƤΤäƤ뤫ȻפΤǤĤޤꡢ夲βǽ礭ʤäƤƤ롢ȡ

轵Υ㥯ۡβĤˤϡĹΤۤ椬ιۤʤƥԡԤäΤǤ

ۤɤʤȤäΤȸС

ޥʥˤäơʴȤȷפΡ˻פɷ㤵줿

ޥʥڤΤ˲äͿƤ롣

θ³ޤǤˤϤޤʤεΥ롣

ʪμ¸ɬפǤФ夦ʤɲŪʴ֤֤Ƥ


ǡǤ礦

ϡۤθȤˤȤȤȿȯǤ

ޥʥˤäƻפɷ㤵줿ȤϤȤƤפޤ󡣴ȤؤɿӤƤʤǤϤʤǤ

ˤƤ⡢ΤΤǤϤʤڤ괹פȯ

˥ޥʥˤäơɤȷפǤ򤳤äƤ뤳Ȥ

ˡǯǤϥޥʥΤΩ­ۤʤɿʱƶФƤΤǤ

ʪ2ɸμ¸ɬפǤСĤʤƤäƤޤ˰᤯ǥե줫æѤȤΤǤСơեΨޥʥ0.5ˤޤDzäƤ뤳Ȥ餹С餫кǤĤ٤ǤϤʤΤȸ

夦ʤʤǤ礦

ˤƤ⡢ۤϥޥʥθ̤ˤĤơ夵ɲô¤Ԥǽ碌ƤΤǤΤȤ߰¤˿Ƥ븶ȤʤäƤΤǤ礦

Ϥϻפޤ

ϡܤΥޥʥˤĤơԾϤۤɾƤʤȸƤ뤫Ǥ

פˡۤȯʤɤ⿿˼ߤƤʤȸäƤǤ礦

¤ϡޥʥƳƤ߹˿ƤΤǤ顣




եΨޥʥ0.5ˤޤǸषƤΤˡۤϲ򤰤äƤΤȻפå򤪴ꤤפޤ

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ФΤ褦󤸤Ƥޤ

֥ļΤƤڹ̲߸򴹶Ƴǿǡ

ڤηкѡͻϤʤ롣27κ̳äǡ۵޻̲ߤͻ̤̲߸򴹶κƳ˸ĤγϤǹդǯνְդޤ줿طΥࡼɤкʬˤȵڡѹβϢʣţաΥæкѤθ®ʤɹݶͻԾԤƩ⤢ꡢڹ񤬥ĤΤƤʹ


ڹ񤬥ĤΤƤΤɤΤޤ󤬡˴ڹڲ¤򤷤ܤȤ̲ߥåפƳߤǤ硢ܤϤ˱٤ʤΤǤ礦

ϡ褷Ƥϻפޤ

ˤĤɾˡ̲ߥåפδŪʤȤƤޤ礦

̲ߥåפȤϲ

ŵŪ̲ߥåפȤϡĤιƱΤȤȤƤ줾ι̲ߤͻ̤礦ǤȤǤ

ȤȤȤϡ㤨лήФꡢ̲ߤβͤ˽褦ʾΤȤǤ

Τ褦ʤȤ줾ιԤϡɤ̲ߤȯԤƴȤ褦ȤƤ̵̣ʤΤǤȤΤ⡢г̳ʧ˱뤿ˤϡ̲ߤǤϤʤߤѰդɬפ뤫Ǥ

̲ߤ̤ȯԤ򳰰ٻԾdzߤ˸򴹤ФǤϤʤȹͤͤ뤫⤷ޤ󤬡Τ褦ʤȤ򤹤Ф˼̲ߤβͤ˽Ƥޤ̵̣ʤΤǤ

Τ褦ʻ֤ȡ̤ϡΤIMFʤΤǤ

âIMF˻ٱĤݤˤϡɬƤκƷꤹ뤳ȤΤǡ̱ˤϤĤ餤פ򤵤ƤޤΤǤ

˥̲ߴκݡڹϤΤ褦ʷи򤷤ΤǤ

ȤȤǡߤߤIMFˤϤʤꤿʤȡ

ǡIMFʳΤȤ鳰ߤĴãȤơ̲ߥåפѤ褦Ȥͤ⤫֤ΤǤ

ȤȤǡɤΤ褦ʹ̲ߥå׶Ӥ뤫ȸСήФζ줬Ǥꡢڹ̲ߥå׶ܤȺƳȸФƤΤǤ

ǤϡܤϤɤʤΤǤ礦ܤ⡢ξƤɬפΤǤ礦

ܤ̤γ߽ͭƤꡢΤ褦ɬפϤʤȸäƤǤ礦

ˤǤ衢ˤȹͤȤƤ⡢ڹ̲ߥå׶Ǥ⡢ܤѤǤΤϥǤʤΤǡؤɰ̣ʤΤǤ

ΰǡڹܤ󶡤ɥѤǤ롢ȡ

DzȴϱԤ

˴ڹƬ򲼤ƤΤܤ̲ߥåפ˱ȤƤ⡢ڹ񤬥󶡤ʤܤ⼫̲ߤαߤ󶡤ΤʤΤˡܤˤϥɥ󶡤ߤȸäƤΤǤ

Ǥ礦

ˡڹ񤬥ɥɬפȤƤΤʤ顢ܤ̲ߥå׶ФʤƤ⡢ƹȷ٤ФΤǤ

ƹϤˤϱʤȡ

̤ǤϤƷȴڹ񷳤­¤ߤ·ƤȤΤˡкѶϤ̤ǤϥꥫϥʤΤǤ

ΤʤΤǤ礦

ϡڹ񤬥󶡤ơƹ񤬥ɥ󶡤̲ߥåפ̾ФΤΤǤäơ֤ƹˤŪʴڹٱ˲᤮ʤǤ

Ȥ顢ܤȴڹδ֤ǤƱȤΤǤ

Ĥޤꡢ̲ߥåפϡܤΰŪʴڹλٱ˲᤮ʤΤǤ

ޤڹܤӤǤΤʤ顢ޤʬޤ

ºݤδڹϤεա¸ۤ졢ϴڹͭڤȼĥ롣

Τ褦ʤȤ򤵤졢ܤϤݻˡȽʤ⤻դ̲ߥåפ˱ȤȤǤСμ¸ۤǧ᤿ƱǤϤޤ󤫡

ڹͤ˸Ϳ륷ʥ٤ǤϤʤΤǤ

Ǹˤ⤦ġפʻ¤

ܤϽʳߤͭƤΤ顢ٹλٱѤƲΤȹͤͤ뤫⤷ޤ󤬡ܤΰ̣ǤߤȤƤΤ褦ʳ߽ͭƤΤʤ̤Ǥγߤϡ٤ܡŪˤϳ̲פǼڶ򤷤ƱߤĴãαߤɥʤɤγߤ˸򴹤Τ˲᤮ʤΤǤ

Ĥޤꡢܤͭ볰ߤߤʤɤǤϤʤñ˼ڶ򤷤Ƽ줿˲᤮ʤΤǤ

ڹȤ̲ߥå׶֤ȤȤϡܤڶ򤷤ơڹŪ˻ٱ礹ȤʤΤΤʤΤǤ



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Υȥ꡼ϤƤʥ֥åޡɲ

ɥ줬1ɥ100ߤοफΥƤޤޤ͡

㥯ۡǤβĤǥFRBĹ夲򼨺ȯ򤷤顢ȤƤޤ

"the US economy was nearing the Federal Reserve's statutory goals of maximum employment and price stability".

ƹкѤϡѤκ粽ʪΰȤˡΧ줿ϢĤɸ˶ŤĤĤ롣

"In light of the continued solid performance of the labour market and our outlook for economic activity and inflation, I believe the case for an increase in the federal funds rate has strengthened in recent months."

ѻԾ졢ơкѳưڤӥեΨθ̤˴ؤ³Ƥ뤳Ȥˤ󤬤ߤСΤ˥եǥե󥺥졼ȡˤ夲ȤĥʤäƤȿ롣

Ȥ⡢ƤȤˤޤǸѻԾ줬ƤΤˡ夬ʤˤΤȻפΤǤ

ޤζΰ夲٤Ƥ뤫ȸСʪ夬ʤȤ֤ͳʤΤǤĤʪ夬ʤȤäơ1930ǯΤ褦ʳ˼ȼԤиƤǤϤʤΤǤ

˸С夲򤹤ȤɤƤ˱ƶͿ롢ȡ

ơ夲򤹤Сɥˤʤ꤬Ǥ롢ȡ

Τ褦ʤȤ夲碌ͳǤäΤǤ礦

ȤȤǡƹ夲βǽ礭ʤäȤȤǡɥ߰°Ϥꡢ1ɥ뤬101ˤʤäƤޤäΤǤ

Ǥ⡢9ˤܤδ˴ؤŪڤԤΤǡޤäήˤʤ뤫⤷ʤΤǤ



¶夲ƤȻפå򤪴ꤤפޤ

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Υȥ꡼ϤƤʥ֥åޡɲ

٥ΥߥɾˤĤƤϡͤˤä礭ۤʤȻפΤǤ

ǤϡΥ٥ΥߥΤΰĤǤͻĤޤۼºɾˤĤƤϤɤʤΤǤ礦

䤬Ծ줫ɤɤĤ㤤夲ơˤä䤬ޥ̤͡Фɬޥɤʥե줬ȤΤեɤμĥǤ

Τ2ΥեɸꤷΤǤ͡

ΰۼºȤƤ3ǯ4

7ξʪؿȯɽˤʤޤʤǡǯƱ٥ޥʥ0.5ˤȤɤޤäƤΤǤ

ʪؿ

Ĥޤꡢɸͤ2.5ݥȤΥƤΤǤ

2ǯ֤ǥޥͥ꡼١Хե줬ȹ줷Ƥۤۡ

ʤΤˡʤѤʤ

ǤդȤ夲ޤ

ʤɤΤΤȤäƤޤͥ륮ȿؿǤߤƤ⡢0.3󤷤徺ƤʤΤǤ

ȤȤϡ2012ǯ12ǸäƤȤ¸Ƥʤȡ

2ɸĶ⤢äǤϤʤȸ򤹤ͤ뤫⤷ޤ󤬡ʪؿ޾徺ΤϡΨΰ夲ΤǤꡢθ̤СʪؿϡɸȤ2ĶȤϤʤΤǤ

ۤϡ¶Ĺ⤬80ߤۤɤãɬޥɤʥե줬Ȧǡ⤷ʤʤä鼭ǤǸƤΤˡμʤΤǤ礦

Ȥιۤ⿴⤿פΤǤϤʤǤ礦

ȤΤ⡢ۤϡ̳Ǥ椫饤եɸϤ˻ٻƤʤΤǤ

Υե줬ʤΤӼƤΤǤϤʤǤ礦

ɤȤʤäǤ顢եɸĥƤѰϷ餯٤Ǥ礦

Ǥ٤ԤǤȤ餺ĤޤǤ¤äƤΤǡդʤޤʤΤǤ




ۤϡ餯եɸԤǧ٤Ȼפå򤪴ꤤפޤ

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λ䥪ԥåϢȡϻԾ˭ž餫ˤʤäƤԵIJȶȼԤꡣ

䡢ɴһٻƤʤΤǤĤǤԵIJΥɥ¸ߤ餫ˤʤäԵIJȾλΤɤθĤȸСλ˷ĤĤޤ

ȤΤ⡢ԵIJΥɥȸлΤ;ˤϪǤ

ΥɥȸƤФͤϡԵIJİǤʤ顢ŵȤҤδƺ򤷤Ƥ餷ΤǤβҤԥåϢꡢ˭ԾιƤ뤳Ȥ餫ˤʤäƤΤǤ

ˡ922ǤİΤλȤ餦Ȥͤ뤳ȤػߤƤΤˡǤ衣

ʤˡΧβǡԵIJΥɥξϡդȤƤ餷ΤǤ

䤫碌ȡǹۤϡͤƤΤȤ

ݡΤ褦ʵ꤬ʤƤ⡢ԤŻ餦Ȥ˼ϤͭİȤƽ°С갷Ըʿˤʤ뤳Ȥܤ˸ƤǤ顢˷ޤäƤǤϤޤ󤫡

Τ褦ʵݸߤ̱ޤȤȿˤϡɼȤΤʤΤǤ礦

Ȥ⡢ԵIJİѡƥǡ̱ޤδϥޤΥԡ򤹤

֤ɤɤĥ졪פʤƥ䥸㥰ФԤ⤤ޤ

ѿΤʤߤǤ͡

Ԥ¿ۤΤФơʬդˤƤȤۤ褦ʤȤ򤷤ƤȤ

Ĥơ̱ޤ̱ޤå줿ΤϡΤ褦ʼ̱ޤμ˹̱򴶤ʤΤǤ

̱Ϲ̱δԤ礭΢ڤꡢơˤʤäƤٻΨʤΤƤӤˤʤäƤΤǤ

2016ǯ٤ͽƤǤޤĤĤ褦Ǥͽޤ᤿ǯ٤κнۤ100ߤĶ뤳ȤȤʤޤ

пʹϡܤ϶۽̺֤ˤʤĥƤޤʤŪȯǤ礦

۽̺ɤ̡ζפȸäƤ⤤

äơȤˤɤɤ󤪶Τ顢ɥʤƸƤФˤΤФΤǤ

ԥåδϢ߷ߤΤˤ⤬ΤʬˤƤ⡢ˤƤθѤβܤˤĤ夬뤳ȤˤǼޤ

ԡơܤǤΤȸ



ԵIJİԤŻȤ˽ǤʤơäƤϤʤʤäȻפå򤪴ꤤפޤ

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Ĺ82527ˤƳ른㥯ۡǤβĤǤɤä򤹤뤫ȤȤ˴ؿޤäƤޤ

ĹʹơFRBεĹΤȤʬͤϥĥȸäƤ⤤Ǥ礦

ޤƤ䡢㥯ۡǤβĤȤΤ󥶥ƥϢŤηкѥݥΤȤǤʬäƤͤϡ¤ߤμȸäƤ⤷ޤ

ˤƤ⡢Ĺ夲λ˴ؤƲΤǤϤʤȡޡåȴطԤ϶̣šʤΤǤ

Ǥϡ˥ޡåȴطԤ夲βǽΤȤ顢ɥߤϤɤʤΤ

ɥ⡢߰¤ʤळȤǤ礦

Ǥ⡢ɤƹ夲򤹤ȡɥ߰¤ˤʤΤǤ礦

ʬäƤͤˤȤäƤϾQߤʤΤǤ̤ˤȤäƤϡۤɰפǤϤʤ⤷ޤ

Ρƹ夲򤹤ȥɥ߰¤ˤʤΤ

졢ʬ񻺲ȤǤäơɥȱߤΤ줫ǻ񻺤ѤΤͭǤ뤫ͤȡȴñߤĤĤȻפޤ

1ɥ100ߤǡ1ǯʪĤ꤬ƹ1ǤΤФܤ0Ȥޤơƹ1ǯʪĤ꤬2˾徺ΤФܤƱ褦0Ȥ顢ƹιĤͭȤʤΤǤϤʤǤ礦

ȤΤ⡢ƹĤ꤬⤯ʤСʬƹĤ̥ϡĤޤꡢƹĤζä뤫ǤĤʤȡܿͤȤϱߤäƥɥ㤤ΥɥƹĤ褦Ȥ뤫Ǥ

ȤȤǡƹζܤζκĤޤƶ礹Сɥ߰¤ΰϤΤ̤ʤΤǤ

ǤϡǤܤϡǯ1ޥʥƳꤷܤζʤ㲼Ǥɥ߰¤ˤϤʤޤǤΤʤΤǤ礦

ϡܤζ㲼ΤƱ褦ƹζ㲼ʤΤǤ

äơƹ񤬺夲ꤷȤƤ⡢ܤζƱ˾夬ΤǤСɥ߰¤ˤϤʤŤ餤ΤǤܤξˤϡ夲ϤȤƤǤʤȹͤƤΤǡɥ߰¤ʤǤȻפƤΤǤ

â9ˡ϶ͻŪʸڤԤȤƤꡢˤθڤη̡ͻεƻԤ뤳ȤȤʤСܤǤ徺ɥ±߹ⰵϤΤȻפޤ


ޡåȤϡޤƵ٤ߵʬʤΤȴƤå򤪴ꤤפޤ

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ɥ줬1ɥ100ߤοĥդƤޤäΤ褦Ǥ

1ɥ100ߤǤ͡

ʤƤäơɥߤδ˴ñ

ơ1ɥ100ߤοबĤޤǤ³ͽۤʤСȤμ䤹ʤ뤳ȤԤΤǤ

ʤΤǤؤȤСŪबɤǤ뤫˴ؿޤ꤬Ǥʾ줬ꤷƤȤȤ˽פʤΤǤ

졢40ǯۤ䤬ʵͽ¬ĴΤ˴Ȥ˥ҥ󥰤˽иݡδȤηοͤ鶵ƤäȤʤΤǤ

줫40ǯ

κ顢ؤưηʵͿƶռ褦ˤʤäȹͤޤ

ˤƤ⡢ɤʤ˼ʬˤȤäͭʿˤ褦ʰǤäƤ⡢༫Τ㤷ư褦ǤϳȤμ¿Ƥ뤳ȤǤʤΤǤ

âˤϡ줬ưƤʤȺ͡ΤǤ

줬夬ä겼äꤹ뤳ȤҤͤˤȤäƤϡ줬ưʤ٤󥹤ޤʤǤ

ȤǡưǤ򤭤äˤư줬ޤ㤷ưФ̤뤫⤷ޤ

ƹ夲ưܳʲХɥ߰¤ΰϤǤ礦դˡŪڤη̤ɽ졢ߤƻ褦ʤȤˤʤСɥ±߹ΰϤȤפޤ

ɤβǽ⤤Τ

줬ʤΤǤ



1ɥ100ߤȡĤƤ٤߹ˤʤäƤΤˡʹ֤äơΤʡȻפäå򤪴ꤤפޤ

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Ф¼Ԥʵ񤤤Ƥޤ

ֹŪˤȤܿͤεΧι̱ռˤȤäƼפɵ᤹ΤϡкѤζ۽̤Ȥ̳νȤɽѥǥ

īпʹϤǤ⤫Ǥ⤫ȶ۽̺롣ͽФƤΤФǡ̳ʤˡֹμڶפǣߤˤʤäȯɽ䡢̱󣸣ߤμڶƤ뤳ȤˤʤкѤ¿Ǥ̤ƤС狼ۤǤ롣

ĤΣʾ϶ͻطͳǹ¶ԤͭƤΤ顢̱󣸣ߤλ񻺤ʤΤǤ롣ڶԤϺ̳νʤΤ顢ۤȸʤ鴱νϵ־夹٤ʤΤ

10ؤξΨΰ夲ʤȤʹˤϷڸΨŬѤ뤳ȤˤʤäƤޤ͡

ʹϡ̱ȯŸΤ˷礫ȤΤǤʤΤ顢ȡʸݻɬפ뤫顢ȡ

ʿʹҤΤΰҤΤ褦ʤȤäƤΤǤ

äƤȤ褦ޤ

äơʹΤʤǰ̳֡ܺGDPΨ⤤ܤ۽̺ξ֤ˤʤƤȡʤǤϤʤǤ

̳ʤĤȯԤ뤳ȤݤƤΤǤС۽̺֤ˤȸäƤ⤤Ȼפޤ¤ϡʹ桢GDPǤߤưֹĤȯԤƤΤܡ

ˡι񡹤ϡܤξΨϤ뤫˹⤤ղòǤݤƤΤǤ衣

īСȤäƱ¾ҤáȤˤä򿭤ФȤάǤΤʬʤǤϤʤȤƤ

ФĤ̱ˤȤäƻ񻺤ǤȼĥƤ뤳ȤˤĤƤϡ줬ְäƤȤϻפޤ󡣳ΤˡԤʤɤĤݡθȤʤäƤΤϹ̱¶Ǥ顢̱Ĥ򤤤񻺤ŪͭƤȤΤϤΤȤꡣ

ΰǡιĤֺѤ뤿κ⸻ˤʤΤϹ̱ħǶǤΤǡĤϹ̱ˤȤäƼڶǤȤΤ⡢ΤȤꡣ

ĤޤꡢĤϡ̱ߤ񻺤ĤĤ¦̤äƤȤȤʤΤǤ

äơĤ¦̤ΤĤĴΤϥХ󥹤礤ƤΤǤ

кѤ¿Ȥ̤ƤФʬۤȤޤĤϹ̱ˤȤäƻ񻺤Ǥ뤫ĻĹ⤬뤳ȤʤˤɬפϤʤʤƸΤϡޤ˺դˡȸäƤǤ礦

˼ڶԤϺ̳ν顢̳ν־夷Ȥ̣ʬޤ

äơ̳ʤϼڶ⤬ʤ褦ˤϤ򤷤ƤΤǤ顣̳ʤʵ褯뤿ˤϺưɬפʤƼĥƤǤϤʤΤǤǤϤʤ̳ʤ򰭼ԤˤĤġʵ褯뤿ʤĤ̵̸򤵤ȤΤǡڶ⤬ƤΤǤ

Ĥޤꡢڶ⤬ͳϡȤ򤳤ʤȤ䡢Ĥϻ񻺤鵤ˤ뤳ȤϤʤȤ򿶤꤫ڤ뤫ʤΤǤ

κ̳ν־夹٤ʤΤǤ礦

Ǥ礦Τ褦ʿʹޤǷڸΨоݤˤꤷơ

Ǥ⡢ʹҤμĥǡˤäƷڸΨоݤˤꤷʤäʤƤȤäƤϡɤˤ븡ܤˤȤˤʤꡢ褷Ƶ٤ȤǤϤޤ

ޤ餳ʹ˷ڸΨŬѤʤȯְۤäƤ뤳ȤʬȻפΤǤ

ˤƤ⡢ĤλĹ⤬ȤФǤͤȤ顢ккȤӤθ򿶤󤷡ưФĥȤ֤¾ˤʤȻפޤ

䡢ʤøʤȤۤäƤ̳ʤ̳ʤȻפΤǤ

Ĥ褯褯ͤƤߤȡȤλпʹƱ褦ʹͤǤΤǡȿ⤷Ť餤ȤȤʤΤǤ礦





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