论文部分内容阅读
2014年,全球金融市场可谓波澜壮阔,大事频发。美国量化宽松货币政策完全退出,欧洲和日本量化宽松继续加码,发达经济体货币政策分化严重。新兴市场受美国QE退出和加息预期的影响,资金流出的压力日增,主要新兴市场货币出现普遍贬值现象,引起国际金融市场动荡不安。受供需等多重因素影响,以石油为代表的大宗商品价格普遍下跌。全球主要股指涨跌不一,美股连涨6年,中国股市涨愈5成,而部分欧洲和新兴国家股指出现下跌。此外,中国在2014年成为资本净输出国,“一带一路”战略重塑全球投资格局。
In 2014, the global financial market can be described as magnificent and with frequent occurrences. The quantitative easing monetary policy in the United States completely exited, the quantitative easing in Europe and Japan continued to be overweight, and the monetary policy in developed economies diverged seriously. Emerging markets were affected by the exit of the U.S. QE and the expectation of raising interest rates. The pressure of capital outflow increased day by day. The prevailing devaluation of emerging market currencies led to turmoil in international financial markets. Affected by multiple factors such as supply and demand, the prices of commodities represented by oil generally dropped. The major global stock indexes were mixed, with the US stocks even rising for six years, the Chinese stock market rose more than 50%, while the indices in some European and emerging countries showed a fall. In addition, China became a net capital exporter in 2014, and the “Belt and Road” strategy reshaped the global investment pattern.