{"id":2631140,"date":"2025-09-03T11:43:39","date_gmt":"2025-09-03T11:43:39","guid":{"rendered":"https:\/\/www.wacoca.com\/news\/2631140\/"},"modified":"2025-09-03T11:43:39","modified_gmt":"2025-09-03T11:43:39","slug":"%e3%82%b3%e3%83%a9%e3%83%a0%ef%bc%9a%e3%83%88%e3%83%a9%e3%83%b3%e3%83%97%e9%96%a2%e7%a8%8e%e9%81%95%e6%b3%95%e5%88%a4%e6%96%ad%e3%81%ab%e5%b8%82%e5%a0%b4%e5%8f%8d%e5%bf%9c%e8%96%84%e3%80%81%e4%b8%8d","status":"publish","type":"post","link":"https:\/\/www.wacoca.com\/news\/2631140\/","title":{"rendered":"\u30b3\u30e9\u30e0\uff1a\u30c8\u30e9\u30f3\u30d7\u95a2\u7a0e\u9055\u6cd5\u5224\u65ad\u306b\u5e02\u5834\u53cd\u5fdc\u8584\u3001\u4e0d\u78ba\u5b9f\u6027\u306f\u4e00\u5c64\u5f37\u307e\u308b\u6050\u308c | \u30ed\u30a4\u30bf\u30fc"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/09\/MLZKYENCHFJWJHPUSZGY7U7COI.jpg\"   width=\"3744\" height=\"2496\" alt=\"&#x30B3;&#x30E9;&#x30E0;&#xFF1A;&#x30C8;&#x30E9;&#x30F3;&#x30D7;&#x95A2;&#x7A0E;&#x9055;&#x6CD5;&#x5224;&#x65AD;&#x306B;&#x5E02;&#x5834;&#x53CD;&#x5FDC;&#x8584;&#x3001;&#x4E0D;&#x78BA;&#x5B9F;&#x6027;&#x306F;&#x4E00;&#x5C64;&#x5F37;&#x307E;&#x308B;&#x6050;&#x308C;\"\/><\/p>\n<p>\u3000\uff19\u6708\uff12\u65e5\u3001\u308f\u305a\u304b\uff15\u30ab\u6708\u524d\u307e\u3067\u3001\u30c8\u30e9\u30f3\u30d7\u7c73\u5927\u7d71\u9818\uff08\u5199\u771f\uff09\u306e\u95a2\u7a0e\u63aa\u7f6e\u304c\u4e16\u754c\u306e\u91d1\u878d\u5e02\u5834\u306b\u3068\u3063\u3066\u5168\u3066\u3067\u3042\u308a\u3001\u6700\u60aa\u306a\u3089\u3070\u4e16\u754c\u7684\u306a\u666f\u6c17\u5f8c\u9000\u3092\u5f15\u304d\u8d77\u3053\u3059\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u6050\u308c\u3089\u308c\u3066\u3044\u305f\u3002\u30db\u30ef\u30a4\u30c8\u30cf\u30a6\u30b9\u3067\u540c\u65e5\u64ae\u5f71\uff08\uff12\uff10\uff12\uff15\u5e74\u3000\u30ed\u30a4\u30bf\u30fc\/Brian Snyder\uff09<\/p>\n<p>[\u30ed\u30f3\u30c9\u30f3 \uff12\u65e5 \u30ed\u30a4\u30bf\u30fc] &#8211; \u308f\u305a\u304b\uff15\u30ab\u6708\u524d\u307e\u3067\u3001\u30c8\u30e9\u30f3\u30d7\u7c73\u5927\u7d71\u9818\u306e\u95a2\u7a0e\u63aa\u7f6e\u304c\u4e16\u754c\u306e\u91d1\u878d\u5e02\u5834\u306b\u3068\u3063\u3066\u5168\u3066\u3067\u3042\u308a\u3001\u6700\u60aa\u306a\u3089\u3070\u4e16\u754c\u7684\u306a\u666f\u6c17\u5f8c\u9000\u3092\u5f15\u304d\u8d77\u3053\u3059\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u6050\u308c\u3089\u308c\u3066\u3044\u305f\u3002\u3068\u3053\u308d\u304c\u4eca\u306e\u3068\u3053\u308d\u305d\u306e\u5fc3\u914d\u306f\u7684\u5916\u308c\u3067\u3042\u3063\u305f\u3053\u3068\u304c\u5206\u304b\u308a\u3001\u5148\u9031\u306b\u306f\u518d\u3073\u95a2\u7a0e\u306b\u5bfe\u3059\u308b\u6cd5\u7684\u306a\u7570\u8b70\u304c\u5531\u3048\u3089\u308c\u305f\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u8ab0\u3082\u6c17\u306b\u7559\u3081\u3066\u3044\u306a\u304b\u3063\u305f\u3088\u3046\u306b\u898b\u3048\u308b\u3002<\/p>\n<p>\u7c73\u56fd\u304c\uff11\u65e5\u306e\u30ec\u30fc\u30d0\u30fc\u30c7\u30fc\u307e\u3067\uff13\u9023\u4f11\u3060\u3063\u305f\u306b\u3057\u3066\u3082\u3001\u300c\u76f8\u4e92\u95a2\u7a0e\u300d\u306a\u3069\u30c8\u30e9\u30f3\u30d7\u6c0f\u304c\u6253\u3061\u51fa\u3057\u305f\u5927\u534a\u306e\u95a2\u7a0e\u306f\u3001\u5927\u7d71\u9818\u6a29\u9650\u3092\u9038\u8131\u3057\u3066\u9055\u6cd5\u3060\u3068\u3057\u305f\uff18\u6708\uff12\uff19\u65e5\u306e\u9996\u90fd\u30ef\u30b7\u30f3\u30c8\u30f3\u306e\u9023\u90a6\u9ad8\u88c1\u306b\u3088\u308b\u5224\u65ad\u306b\u5bfe\u3059\u308b\u4e16\u754c\u7684\u306a\u53cd\u5fdc\u306f\u4e4f\u3057\u304b\u3063\u305f\u3002\u3053\u308c\u306f\u3001\u8cbf\u6613\u74b0\u5883\u306e\u6fc0\u5909\u3092\u901a\u3058\u3066\u5e02\u5834\u3084\u4f01\u696d\u306e\u6df7\u4e71\u304c\u65e2\u306b\u884c\u304d\u7740\u304f\u3068\u3053\u308d\u307e\u3067\u884c\u304d\u7740\u3044\u305f\u7d50\u679c\u3067\u3042\u308b\u516c\u7b97\u304c\u5927\u304d\u3044\u3002<img decoding=\"async\" src=\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/08\/1754544867_986_chart.png\" alt=\"This bar chart displays U.S. President Donald Trump's tariff rates of top U.S. trading partners (as of Aug. 6)\"\/>This bar chart displays U.S. President Donald Trump&#8217;s tariff rates of top U.S. trading partners (as of Aug. 6)<\/p>\n<p>\u9ad8\u88c1\u306f\u3001\uff11\uff10\u6708\uff11\uff14\u65e5\u307e\u3067\u95a2\u7a0e\u63aa\u7f6e\u306e\u52b9\u529b\u3092\u5bb9\u8a8d\u3057\u3001\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u304c\u9023\u90a6\u6700\u9ad8\u88c1\u306b\u4e0a\u8a34\u3059\u308b\u6a5f\u4f1a\u3092\u4e0e\u3048\u3066\u3044\u308b\u3002<\/p>\n<p>\u30c8\u30e9\u30f3\u30d7\u6c0f\u306f\u9ad8\u88c1\u306e\u5224\u65ad\u306b\u304b\u307f\u3064\u304d\u3001\u95a2\u7a0e\u304c\u5ec3\u6b62\u3055\u308c\u308c\u3070\u300c\u7c73\u56fd\u306b\u3068\u3063\u3066\u5b8c\u5168\u306a\u707d\u5bb3\u306b\u306a\u308b\u300d\u3068\u8b66\u544a\u3057\u305f\u3002<\/p>\n<p>\u95a2\u7a0e\u7387\u304c\u6628\u5e74\u4e26\u307f\u306e\u6c34\u6e96\u306b\u623b\u308b\u3060\u3051\u3067\u300c\u5b8c\u5168\u306a\u707d\u5bb3\u300d\u3068\u8a00\u3046\u306e\u306f\u6975\u7aef\u306a\u898b\u65b9\u3060\u304c\u3001\u30c8\u30e9\u30f3\u30d7\u6c0f\u306e\u7d4c\u6e08\u653f\u7b56\u69cb\u60f3\u306b\u3068\u3063\u3066\u306f\u78ba\u304b\u306b\u707d\u5384\u3092\u3082\u305f\u3089\u3057\u3066\u3082\u304a\u304b\u3057\u304f\u306a\u3044\u3002\u653f\u6a29\u304c\u5e74\u9593\u3067\u7d04\uff13\uff10\uff10\uff10\u5104\u30c9\u30eb\u306e\u95a2\u7a0e\u53ce\u5165\u3092\u5f53\u3066\u306b\u3057\u3066\u3044\u308b\u304b\u3089\u3067\u3042\u308b\u306e\u306f\u8a00\u3046\u307e\u3067\u3082\u306a\u3044\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/09\/1756899814_951_chart.png\" alt=\"Shows US tariff revenues\"\/>Shows US tariff revenues<\/p>\n<p>\u5e02\u5834\u3067\u9ad8\u88c1\u5224\u65ad\u306e\u5f71\u97ff\u3092\u6700\u3082\u5f37\u304f\u53d7\u3051\u305d\u3046\u306a\u306e\u304c\u7c73\u56fd\u50b5\u3060\u3063\u305f\u3068\u3059\u308c\u3070\u3001\uff11\u65e5\u306e\u7c73\u56fd\u50b5\u5e02\u5834\u304c\u4f11\u5834\u3060\u3063\u305f\u3053\u3068\u304c\u3001\u5e02\u5834\u5168\u4f53\u306e\u505c\u6ede\u611f\u3092\u3042\u308b\u7a0b\u5ea6\u8aac\u660e\u3057\u3066\u3044\u308b\u306e\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u3082\u3063\u3068\u8996\u91ce\u3092\u5e83\u3052\u308c\u3070\u3001\u4e16\u754c\u4e2d\u306e\u6295\u8cc7\u5bb6\u306f\u307e\u305a\u7c73\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\u30fb\u30a6\u30a9\u30fc\u30eb\u8857\u306e\u53cd\u5fdc\u3092\u898b\u3088\u3046\u3068\u3057\u3066\u3001\u3069\u3046\u52d5\u304f\u304b\u6c7a\u65ad\u3059\u308b\u306e\u3092\u305f\u3081\u3089\u3063\u305f\u306e\u3060\u308d\u3046\u3002<\/p>\n<p>\u3000\u3057\u304b\u3057\u9280\u884c\u306e\u30b9\u30c8\u30e9\u30c6\u30b8\u30b9\u30c8\u3089\u304c\u3068\u308a\u3042\u3048\u305a\u307e\u3068\u3081\u305f\u8cc7\u6599\u304b\u3089\u306f\u3001\u3053\u3046\u3057\u305f\u6bd4\u8f03\u7684\u843d\u3061\u7740\u3044\u305f\u5e02\u5834\u306e\u53cd\u5fdc\u304c\u4e3b\u306b\uff13\u3064\u306e\u524d\u63d0\u306b\u4f9d\u62e0\u3057\u3066\u3044\u308b\u3068\u8aad\u307f\u53d6\u308c\u308b\u3002<\/p>\n<p>\u3000\u5f7c\u3089\u306e\u898b\u7acb\u3066\u3067\u306f\u3001\u300c\u76f8\u4e92\u95a2\u7a0e\u300d\u3092\u5de1\u308b\u9ad8\u88c1\u5224\u65ad\u306f\u6765\u5e74\u306e\u6700\u9ad8\u88c1\u5be9\u7406\u671f\u9593\u4e2d\u306f\u52b9\u529b\u304c\u505c\u6b62\u3055\u308c\u3001\u6700\u9ad8\u88c1\u304c\u5be9\u7406\u958b\u59cb\u3092\u6c7a\u3081\u308c\u3070\u3001\uff11\uff10\u6708\uff11\uff14\u65e5\u4ee5\u964d\u3082\u591a\u304f\u306e\u95a2\u7a0e\u306f\u3001\u6050\u3089\u304f\u6765\u5e74\u7b2c\uff12\u30fb\u56db\u534a\u671f\u4e2d\u306b\u306a\u308b\u5224\u6c7a\u306e\u6642\u671f\u307e\u3067\u7dad\u6301\u3055\u308c\u308b\u516c\u7b97\u304c\u5927\u304d\u3044\u3002\u6700\u9ad8\u88c1\u304c\u5be9\u7406\u3092\u62d2\u5426\u3059\u308b\u78ba\u7387\u306f\u975e\u5e38\u306b\u4e4f\u3057\u3044\u3002<\/p>\n<p>\u307e\u305f\u3053\u308c\u3089\u306e\u95a2\u7a0e\u306e\u767a\u52d5\u6a29\u9650\u304c\u5426\u5b9a\u3055\u308c\u305f\u3068\u3057\u3066\u3082\u3001\u653f\u6a29\u306f\u5225\u306e\u6cd5\u4ee4\u3084\u53d6\u308a\u6c7a\u3081\u3092\u901a\u3058\u3066\u95a2\u7a0e\u53ce\u5165\u3092\u5f97\u308b\u3053\u3068\u306f\u3067\u304d\u308b\u3002\u6700\u3082\u63a1\u7528\u3055\u308c\u308b\u53ef\u80fd\u6027\u304c\u5927\u304d\u3044\u306e\u306f\u3001\u7279\u5b9a\u5206\u91ce\u306b\u72d9\u3044\u3092\u5b9a\u3081\u305f\u308a\u3001\uff12\uff10\uff11\uff18\u5e74\u304b\u3089\uff11\uff19\u5e74\u306b\u304b\u3051\u3066\u4e2d\u56fd\u306b\u9069\u7528\u3057\u305f\u901a\u5546\u6cd5\uff13\uff10\uff11\u6761\u306a\u3069\u65e2\u5b58\u306e\u6cd5\u7684\u6839\u62e0\u3092\u3088\u308a\u7a4d\u6975\u7684\u306b\u6d3b\u7528\u3057\u305f\u308a\u3059\u308b\u65b9\u6cd5\u3060\u3002<\/p>\n<p>\u3082\u3046\uff11\u3064\u3001\u95a2\u7a0e\u306b\u5bfe\u3059\u308b\u6cd5\u7684\u306a\u7570\u8b70\u7533\u3057\u7acb\u3066\u306f\u65e2\u306b\u5927\u65b9\u304c\u60f3\u5b9a\u3057\u3066\u3044\u305f\u3068\u3044\u3046\u4e8b\u5b9f\u304c\u6319\u3052\u3089\u308c\u308b\u3002\u30c8\u30e9\u30f3\u30d7\u6c0f\u306e\u95a2\u7a0e\u306b\u306f\u3053\u308c\u307e\u3067\u306b\u3001\u30ab\u30ea\u30d5\u30a9\u30eb\u30cb\u30a2\u5dde\u306a\u3069\u304b\u3089\u5c11\u306a\u304f\u3068\u3082\uff18\u4ef6\u306e\u8a34\u8a1f\u304c\u63d0\u8d77\u3055\u308c\u3066\u3044\u308b\u3002<\/p>\n<p>\u30b4\u30fc\u30eb\u30c9\u30de\u30f3\u30fb\u30b5\u30c3\u30af\u30b9\u306e\u30a8\u30b3\u30ce\u30df\u30b9\u30c8\u30c1\u30fc\u30e0\u306f\u9867\u5ba2\u306b\u300c\u6700\u9ad8\u88c1\u304c\u6700\u7d42\u7684\u306b\u3069\u306e\u3088\u3046\u306a\u5224\u6c7a\u3092\u4e0b\u3057\u3066\u3082\u3001\u30c8\u30e9\u30f3\u30d7\u6c0f\u306f\u95a2\u7a0e\u3092\u767a\u52d5\u3059\u308b\u76f8\u5f53\u306a\u6a29\u9650\u3092\u4fdd\u6709\u3057\u7d9a\u3051\u308b\u300d\u3068\u8aac\u660e\u3057\u305f\u3002<\/p>\n<p>\uff1c\u6df7\u4e71\u306b\u3064\u306a\u304c\u308b\u8981\u7d20\uff1e<\/p>\n<p>\u305f\u3060\u3053\u3046\u3057\u305f\u8981\u7d20\u304c\uff11\u65e5\u306e\u5e02\u5834\u306e\u53cd\u5fdc\u306e\u920d\u3055\u3092\u8aac\u660e\u3067\u304d\u308b\u3068\u3057\u3066\u3082\u3001\u95a2\u7a0e\u306e\u6301\u7d9a\u6027\u3084\u5bfe\u8c61\u306e\u59a5\u5f53\u6027\u3092\u5de1\u308b\u4e00\u9023\u306e\u7591\u554f\u304c\u6d6e\u304b\u3073\u4e0a\u304c\u3063\u3066\u304f\u308b\u3002<\/p>\n<p>\u5f71\u97ff\u3092\u53d7\u3051\u308b\u7c73\u4f01\u696d\u306a\u3044\u3057\u6d77\u5916\u8af8\u56fd\u3001\u3055\u3089\u306b\u95a2\u7a0e\u53ce\u5165\u3092\u524d\u63d0\u3068\u3057\u3066\u52d5\u3044\u3066\u3044\u308b\u50b5\u5238\u5e02\u5834\u306b\u3068\u3063\u3066\u3082\u3001\u4eca\u306a\u304a\u5148\u884c\u304d\u306f\u4e0d\u900f\u660e\u3067\u3001\u72b6\u6cc1\u306f\u523b\u3005\u3068\u5909\u5316\u3057\u3066\u3044\u308b\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/09\/One.PNG\" alt=\"Number of companies reacting to US tariffs by issues and sectors\"\/>Number of companies reacting to US tariffs by issues and sectors<\/p>\n<p>\u30ef\u30b7\u30f3\u30c8\u30f3\u306e\u9ad8\u88c1\u304c\u9055\u6cd5\u3068\u3057\u305f\u306e\u306f\u3001\uff14\u6708\u306b\u767a\u8868\u3057\u305f\u300c\u76f8\u4e92\u95a2\u7a0e\u300d\u3068\u3001\u5408\u6210\u9ebb\u85ac\u306e\u7c73\u56fd\u3078\u306e\u6d41\u5165\u63aa\u7f6e\u3092\u76ee\u7684\u306b\u4e2d\u56fd\u3084\u30ab\u30ca\u30c0\u3001\u30e1\u30ad\u30b7\u30b3\u306b\u8ab2\u3057\u305f\u8ffd\u52a0\u95a2\u7a0e\u3002\u5225\u306e\u6a29\u9650\u3067\u767a\u52d5\u3057\u305f\u9244\u92fc\u30fb\u30a2\u30eb\u30df\u30cb\u30a6\u30e0\u3078\u306e\u54c1\u76ee\u5225\u95a2\u7a0e\u306f\u5bfe\u8c61\u5916\u3067\u3001\u8a34\u8a1f\u304c\u8d77\u3053\u3055\u308c\u305f\u5f8c\u306b\u5b9f\u884c\u3057\u305f\u30d6\u30e9\u30b8\u30eb\u3078\u306e\u8a08\uff15\uff10\uff05\u306e\u95a2\u7a0e\u3082\u542b\u307e\u308c\u306a\u3044\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/09\/Two.PNG\" alt=\"Companies reacting to US tariffs by week and region\"\/>Companies reacting to US tariffs by week and region<\/p>\n<p>\u30b4\u30fc\u30eb\u30c9\u30de\u30f3\u306f\u3001\u9055\u6cd5\u3068\u5224\u65ad\u3055\u308c\u305f\u95a2\u7a0e\u306f\u3001\u7c73\u56fd\u306e\u5b9f\u52b9\u95a2\u7a0e\u7387\u5168\u4f53\u306e\u4e0a\u6607\u7387\uff11\uff11\uff05\u306e\u3046\u3061\u306e\uff18\u30dd\u30a4\u30f3\u30c8\u3092\u5360\u3081\u308b\u3068\u307f\u3066\u3044\u308b\u3002\u30d0\u30fc\u30af\u30ec\u30a4\u30ba\u306f\u3001\uff19\u6708\u672b\u307e\u3067\u306e\u4eca\u5e74\u5ea6\u306e\u95a2\u7a0e\u53ce\u5165\u306e\uff15\u5272\u304c\u9055\u6cd5\u3068\u3055\u308c\u305f\u95a2\u7a0e\u3067\u3001\u6765\u5e74\u5ea6\u306b\u306f\u6700\u5927\uff17\u5272\u306b\u9054\u3059\u308b\u3068\u4e88\u60f3\u3057\u305f\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/09\/Three.PNG\" alt=\"Barclays chart on percentage of US government revenue raised by tariff type\"\/>Barclays chart on percentage of US government revenue raised by tariff type<\/p>\n<p>\u6700\u9ad8\u88c1\u304c\u9ad8\u88c1\u306e\u5224\u65ad\u3092\u652f\u6301\u3057\u3066\u9055\u6cd5\u3068\u306e\u898b\u89e3\u3092\u793a\u3059\u53ef\u80fd\u6027\u306f\u30bc\u30ed\u3067\u306f\u306a\u3044\u304c\u3001\u305d\u306e\u5834\u5408\u306f\u8457\u3057\u3044\u7a0e\u53ce\u4e0d\u8db3\u3092\u907f\u3051\u308b\u305f\u3081\u3001\u653f\u6a29\u306f\u3059\u3050\u306b\u3082\u54c1\u76ee\u5225\u95a2\u7a0e\u3084\u305d\u306e\u4ed6\u306e\u6a29\u9650\u306b\u3088\u308b\u95a2\u7a0e\u63aa\u7f6e\u306b\u79fb\u884c\u3057\u305d\u3046\u3060\u3002<\/p>\n<p>\u7570\u8b70\u7533\u3057\u7acb\u3066\u304c\u5e45\u5e83\u304f\u4e88\u60f3\u3055\u308c\u3066\u3044\u305f\u3068\u3059\u308c\u3070\u3001\u5bfe\u5fdc\u7b56\u3082\u7b56\u5b9a\u6e08\u307f\u306e\u306f\u305a\u3067\u3001\u54c1\u76ee\u5225\u95a2\u7a0e\u306f\u78ba\u304b\u306b\u3088\u308a\u6301\u7d9a\u7684\u3067\u5b89\u5b9a\u7684\u306a\u6027\u8cea\u3092\u6301\u3064\u304b\u3082\u3057\u308c\u306a\u3044\u3002<\/p>\n<p>\u3057\u304b\u3057\u3001\u6700\u7d42\u7684\u306a\u7d50\u672b\u304c\u3069\u3046\u306a\u308d\u3046\u3068\u3082\u3001\u5f71\u97ff\u3092\u53d7\u3051\u308b\u4f01\u696d\u3084\u5404\u56fd\u306b\u3068\u3063\u3066\u306f\u300c\u4eee\u5b9a\u300d\u3084\u300c\u305f\u3060\u3057\u66f8\u304d\u300d\u306a\u3069\u306e\u4e0d\u78ba\u5b9f\u6027\u306f\u4e00\u5c64\u9ad8\u307e\u308b\u3088\u3046\u306b\u898b\u53d7\u3051\u3089\u308c\u308b\u3002<\/p>\n<p>\u30b8\u30a7\u30d5\u30ea\u30fc\u30ba\u306e\u30a2\u30ca\u30ea\u30b9\u30c8\u30c1\u30fc\u30e0\u306f\u3001\u6700\u9ad8\u88c1\u304c\u76f8\u4e92\u95a2\u7a0e\u3092\u9055\u6cd5\u3068\u306e\u5224\u6c7a\u3092\u4e0b\u305b\u3070\u3001\u7c73\u56fd\u306e\u8f38\u5165\u4f01\u696d\u306f\u65e2\u306b\u652f\u6255\u3063\u305f\u95a2\u7a0e\u306e\u8fd4\u9084\u8acb\u6c42\u304c\u53ef\u80fd\u306b\u306a\u308a\u3001\u6df7\u4e71\u306b\u3064\u306a\u304c\u3063\u3066\u3082\u304a\u304b\u3057\u304f\u306a\u3044\u3068\u6307\u6458\u3059\u308b\u3002<\/p>\n<p>\u3055\u3089\u306b\u540c\u30c1\u30fc\u30e0\u306b\u3088\u308b\u3068\u3001\u7c73\u56fd\u304c\u95a2\u7a0e\u3068\u7d50\u3073\u3064\u3051\u308b\u5f62\u3067\u3001\u4ed6\u306e\u56fd\u30fb\u5730\u57df\u3068\u7d50\u3093\u3060\u6570\u591a\u304f\u306e\u975e\u516c\u5f0f\u306a\u8cbf\u6613\u5354\u5b9a\u306e\u518d\u4ea4\u6e09\u304c\u5fc5\u8981\u3068\u306a\u308a\u3001\u4eca\u5e74\u76ee\u306b\u3057\u305f\u3088\u3046\u306a\u9577\u304f\u3001\u591a\u5927\u306a\u4e0d\u78ba\u5b9f\u6027\u306e\u5c40\u9762\u306b\u898b\u821e\u308f\u308c\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u3002<\/p>\n<p>\u30b8\u30a7\u30d5\u30ea\u30fc\u30ba\u306f\u300c\u3053\u308c\u3089\u306e\u95a2\u7a0e\u306f\u653f\u5e9c\u6b73\u5165\u306b\u306a\u308b\u3068\u60f3\u5b9a\u3055\u308c\u3066\u3044\u308b\u305f\u3081\u3001\u9055\u6cd5\u5224\u6c7a\u306f\u7c73\u56fd\u8ca1\u653f\u306e\u6301\u7d9a\u53ef\u80fd\u6027\u3092\u5de1\u308b\u7591\u5ff5\u3092\u518d\u71c3\u3055\u305b\u304b\u306d\u306a\u3044\u300d\u3068\u4ed8\u3051\u52a0\u3048\u305f\u3002<\/p>\n<p>\u3053\u3046\u3057\u305f\u95a2\u7a0e\u63aa\u7f6e\u3068\u305d\u308c\u3089\u3092\u5de1\u308b\u6cd5\u7684\u306a\u8a6d\u5f01\u304c\u3069\u3046\u5c55\u958b\u3055\u308c\u3066\u3082\u3001\u7c73\u7d4c\u6e08\u304c\u5de1\u822a\u901f\u5ea6\u3092\u4fdd\u3061\u7d9a\u3051\u3089\u308c\u308b\u53ef\u80fd\u6027\u306f\u5341\u5206\u306b\u3042\u308b\u3002\u73fe\u6642\u70b9\u3067\u3001\u7b2c\uff13\u30fb\u56db\u534a\u671f\u306e\u7c73\u6210\u9577\u7387\u306f\uff13\uff0e\uff15\uff05\u524d\u5f8c\u3068\u898b\u7a4d\u3082\u3089\u308c\u3066\u3044\u308b\u3002\u305d\u308c\u3067\u3082\u8cbf\u6613\u9762\u306e\u4e0d\u78ba\u5b9f\u6027\u304c\u4f55\u3089\u304b\u306e\u5f62\u3067\u30c0\u30e1\u30fc\u30b8\u3092\u751f\u3080\u306a\u3089\u3001\u305d\u308c\u306f\u6c7a\u3057\u3066\u77ed\u671f\u9593\u3067\u59ff\u3092\u6d88\u3059\u3053\u3068\u306f\u306a\u3044\u3060\u308d\u3046\u3002<\/p>\n<p>\uff08\u7b46\u8005\u306f\u30ed\u30a4\u30bf\u30fc\u306e\u30b3\u30e9\u30e0\u30cb\u30b9\u30c8\u3067\u3059\u3002\u672c\u30b3\u30e9\u30e0\u306f\u7b46\u8005\u306e\u500b\u4eba\u7684\u898b\u89e3\u306b\u57fa\u3065\u3044\u3066\u66f8\u304b\u308c\u3066\u3044\u307e\u3059\uff09<\/p>\n<p data-testid=\"Body\" dir=\"ltr\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf article-body__element__2p5pI article-body__trust-badge__D_brm\">\u79c1\u305f\u3061\u306e\u884c\u52d5\u898f\u7bc4\uff1a\u30c8\u30e0\u30bd\u30f3\u30fb\u30ed\u30a4\u30bf\u30fc\u300c\u4fe1\u983c\u306e\u539f\u5247\u300d, opens new tab<\/p>\n<p>\u7b46\u8005\u306f\u300cReuters Breakingviews\u300d\u306e\u30b3\u30e9\u30e0\u30cb\u30b9\u30c8\u3067\u3059\u3002\u672c\u30b3\u30e9\u30e0\u306f\u7b46\u8005\u306e\u500b\u4eba\u7684\u898b\u89e3\u306b\u57fa\u3065\u3044\u3066\u66f8\u304b\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/09\/https:\/\/author-service-images-prod-us-east-1.publishing.aws.arc.pub\/reuters\/1e8c3957-22a6-472d-9631-.png\" alt=\"Mike Dolan\"\/><\/p>\n<p data-testid=\"Body\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__extra_small__8Buss body-module__base__o--Cl body-module__extra_small_body__Bfz20 author-bio-module__description__9ynkB\">Mike Dolan is Reuters Editor-at-Large for Finance &amp; Markets and a regular columnist. He has worked as a correspondent, editor and columnist at Reuters for the past 30 years &#8211; specializing in global economics and policy and financial markets across G7 and emerging economies. Mike is based in London but has also worked in Washington DC and in Sarajevo and has covered news events from dozens of cities across the world. A graduate in economics and politics from Trinity College Dublin, Mike previously worked with Bloomberg and Euromoney and received Reuters awards for his work during the financial crisis in 2007\/2008 and on Frontier Markets in 2010.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u3000\uff19\u6708\uff12\u65e5\u3001\u308f\u305a\u304b\uff15\u30ab\u6708\u524d\u307e\u3067\u3001\u30c8\u30e9\u30f3\u30d7\u7c73\u5927\u7d71\u9818\uff08\u5199\u771f\uff09\u306e\u95a2\u7a0e\u63aa\u7f6e\u304c\u4e16\u754c\u306e\u91d1\u878d\u5e02\u5834\u306b\u3068\u3063\u3066\u5168\u3066\u3067\u3042\u308a\u3001\u6700\u60aa\u306a\u3089\u3070\u4e16\u754c\u7684\u306a\u666f\u6c17\u5f8c\u9000\u3092\u5f15\u304d\u8d77\u3053\u3059\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u6050\u308c\u3089\u308c\u3066\u3044\u305f\u3002\u30db\u30ef\u30a4\u30c8\u30cf\u30a6\u30b9\u3067\u540c\u65e5\u64ae\u5f71\uff08\uff12\uff10\uff12\uff15\u5e74\u3000\u30ed\u30a4\u30bf\u30fc\/B<\/p>\n","protected":false},"author":2,"featured_media":2631141,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[762824],"tags":[392636,630447,17023,762691,762764,762760,763282,14869,762699,762712,52165,763347,762767,764350,763348,762814,762879,764482,762828,222298,764353,534347,765677,762772,73796,766561,766116,762892,102465,762786,762700,773935,762783,39760,589033,762717,762915,763283,135664,762916,765957,769534,762721,775951,762723,764484,763478,762684,762685,79981,785331,141481,770692,762777,25737,84497,762697,778236,762815,238274,762813,622598,110753,53321,688579,170696,762889,104159,99360,48489,705736,89874,67622],"class_list":{"0":"post-2631140","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world-news","8":"tag-fund","9":"tag-g7","10":"tag-aaa","11":"tag-amers","12":"tag-anlins","13":"tag-anv","14":"tag-arti","15":"tag-asia","16":"tag-asxpac","17":"tag-bisv","18":"tag-bnk","19":"tag-bnks","20":"tag-bojj","21":"tag-bsup","22":"tag-bsvc","23":"tag-cen","24":"tag-chip","25":"tag-cinv","26":"tag-clj","27":"tag-clm","28":"tag-cmss","29":"tag-cn","30":"tag-crycur","31":"tag-dbt","32":"tag-def","33":"tag-destnojpzam","34":"tag-destnojpztm","35":"tag-easia","36":"tag-eco","37":"tag-econ","38":"tag-emrg","39":"tag-eub","40":"tag-ezc","41":"tag-fed","42":"tag-fin","43":"tag-fins","44":"tag-frx","45":"tag-g8","46":"tag-gen","47":"tag-gvd","48":"tag-hyd","49":"tag-igd","50":"tag-inds","51":"tag-infu","52":"tag-intag","53":"tag-invt08","54":"tag-iser","55":"tag-jfor","56":"tag-jln","57":"tag-jp","58":"tag-jptopicbusiness-tech-ai","59":"tag-law","60":"tag-legals","61":"tag-mce","62":"tag-mmt","63":"tag-mtg","64":"tag-namer","65":"tag-pfund","66":"tag-plcy","67":"tag-pol","68":"tag-rep","69":"tag-roi","70":"tag-sci","71":"tag-semi","72":"tag-stx","73":"tag-tech","74":"tag-teeq","75":"tag-tmt","76":"tag-trd","77":"tag-trf","78":"tag-trn","79":"tag-us","80":"tag-world-news"},"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/posts\/2631140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/comments?post=2631140"}],"version-history":[{"count":0,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/posts\/2631140\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/media\/2631141"}],"wp:attachment":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/media?parent=2631140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/categories?post=2631140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/tags?post=2631140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}