![\"コラム：ＡＩにも米国にも執着せず、2026年の強気な株式投資戦略とは\"\/](\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2026\/01\/4BBYP44TDZJKVLATVRYDULL3P4.jpg\")
<\/p>\n<\/p>\n
\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\u8a3c\u5238\u53d6\u5f15\u6240\u3067\uff12\uff10\uff12\uff15\u5e74\uff18\u6708\u64ae\u5f71\u3002 REUTERS\/Adam Gray<\/p>\n
\uff3b\u30ed\u30f3\u30c9\u30f3\u3000\uff11\uff12\u6708\uff12\uff12\u65e5\u3000\u30ed\u30a4\u30bf\u30fc\uff3d – \uff12\uff10\uff12\uff16\u5e74\u306b\u5b89\u5b9a\u3057\u305f\u6295\u8cc7\u3092\u6c42\u3081\u308b\u682a\u5f0f\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u3001\u4eba\u5de5\u77e5\u80fd\uff08\uff21\uff29\uff09\u30d6\u30fc\u30e0\u3092\u8d85\u3048\u305f\u6295\u8cc7\u62e1\u5927\u306f\u65b0\u5e74\u306e\u62b1\u8ca0\u3068\u3057\u3066\u6709\u52b9\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u305d\u3057\u3066\u3001\u30c1\u30e3\u30f3\u30b9\u306f\u76ee\u306b\u898b\u3048\u306a\u3044\u5f62\u3067\u6f5c\u3093\u3067\u3044\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002<\/p>\n
\u6295\u8cc7\u5bb6\u304c\u8b66\u6212\u3059\u308b\u7406\u7531\u306f\u5341\u5206\u306b\u3042\u308b\u3002\u7c73\u682a\u5f0f\u306e\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u306f\u904e\u71b1\u6c17\u5473\u3067\u3001\uff33\uff06\uff30\u7dcf\u5408\uff15\uff10\uff10\u7a2e(.SPX), opens new tab\u306b\u95a2\u3057\u3066\u7d4c\u6e08\u5b66\u8005\u30ed\u30d0\u30fc\u30c8\u30fb\u30b7\u30e9\u30fc\u6c0f\u304c\u7de8\u307f\u51fa\u3057\u305f\u666f\u6c17\u5faa\u74b0\u8abf\u6574\u5f8c\u306e\u30b7\u30e9\u30fc\u682a\u4fa1\u53ce\u76ca\u7387\uff08\uff30\uff25\uff32\uff09\u306f\uff14\uff10\u500d\u3092\u8d85\u3048\u3066\u304a\u308a\u3001\uff11\uff19\uff19\uff10\u5e74\u4ee3\u306e\uff29\uff34\u30d0\u30d6\u30eb\u671f\u306e\u6c34\u6e96\u306b\u6975\u3081\u3066\u8fd1\u3044\u3002\u3055\u3089\u306b\u6295\u8cc7\u8cc7\u91d1\u306f\u6975\u3081\u3066\u96c6\u4e2d\u3057\u3066\u3044\u308b\u3002\u30b4\u30fc\u30eb\u30c9\u30de\u30f3\u30fb\u30b5\u30c3\u30af\u30b9\u306e\u5206\u6790\u306b\u3088\u308b\u3068\u3001\u7c73\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u5927\u624b\uff15\u793e\u306e\u30a8\u30cc\u30d3\u30c7\u30a3\u30a2(NVDA.O), opens new tab\u3001\u30a2\u30c3\u30d7\u30eb(AAPL.O), opens new tab\u3001\u30a2\u30eb\u30d5\u30a1\u30d9\u30c3\u30c8(GOOGL.O), opens new tab\u3001\u30de\u30a4\u30af\u30ed\u30bd\u30d5\u30c8(MSFT.O), opens new tab\u3001\u30a2\u30de\u30be\u30f3\u30fb\u30c9\u30c3\u30c8\u30fb\u30b3\u30e0(AMZN.O), opens new tab\u306e\u6642\u4fa1\u7dcf\u984d\u5408\u8a08\u306f\u3001\u30e6\u30fc\u30ed\uff33\uff34\uff2f\uff38\uff38\uff15\uff10\u6307\u6570(.STOXX50), opens new tab\u3084\u3001\u82f1\u56fd\u3084\u30a4\u30f3\u30c9\u3001\u65e5\u672c\u3001\u30ab\u30ca\u30c0\u306e\u682a\u5f0f\u5e02\u5834\u5168\u4f53\u306e\u6642\u4fa1\u7dcf\u984d\u3092\u4e0a\u56de\u3063\u3066\u3044\u308b\u3002\u3053\u3046\u3057\u305f\u80cc\u666f\u304b\u3089\u3001\uff21\uff29\u30d6\u30fc\u30e0\u306b\u652f\u3048\u3089\u308c\u305f\uff12\uff15\u5e74\u306e\u682a\u4fa1\u4e0a\u6607\u3078\u306e\u7591\u5ff5\u304c\u5f90\u3005\u306b\u5e83\u304c\u308a\u3064\u3064\u3042\u308b\u3002\u6295\u8cc7\u5bb6\u306e\u4e0d\u5b89\u5fc3\u7406\u3092\u793a\u3059\u300c\u6050\u6016\u6307\u6570\u300d\u3068\u3057\u3066\u77e5\u3089\u308c\u308b\u30b7\u30ab\u30b4\u30fb\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u6240\uff08\uff23\uff22\uff2f\uff25\uff09\u306e\uff36\uff29\uff38\u6307\u6570\uff08\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u30fc\u30fb\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\uff09(.VIX), opens new tab\u306f\u904e\u53bb\u6570\u30ab\u6708\u9593\u306b\u6025\u4e0a\u6607\u3057\u305f\u3002<\/p>\n
\u3057\u304b\u3057\u3001\uff12\uff15\u5e74\u306b\u306f\u7c73\u30cf\u30a4\u30c6\u30af\u9298\u67c4\u4ee5\u5916\u306e\u591a\u304f\u306e\u5730\u57df\u30fb\u30bb\u30af\u30bf\u30fc\u3067\u5b89\u5b9a\u3057\u305f\u30ea\u30bf\u30fc\u30f3\u304c\u5b9f\u73fe\u3057\u305f\u3002\u79c1\u305f\u3061\u306f\u3053\u308c\u3089\u306e\u591a\u304f\u304c\uff12\uff16\u5e74\u3082\u540c\u69d8\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3092\u767a\u63ee\u3067\u304d\u308b\u3068\u8003\u3048\u3066\u3044\u308b\u3002<\/p>\n
\uff1c\u7c73\u56fd\u306b\u3053\u3060\u308f\u3089\u306a\u304f\u3066\u3044\u3044\uff1e<\/p>\n
\u5730\u57df\u5225\u306b\u898b\u308b\u3068\u3001\uff12\uff10\uff12\uff15\u5e74\u306e\u682a\u5f0f\u5e02\u5834\u306e\u4e3b\u5f79\u306f\u7c73\u56fd\u3067\u306f\u306a\u304b\u3063\u305f\u3002<\/p>\n
\u73fe\u5730\u901a\u8ca8\u30d9\u30fc\u30b9\u306e\u30ea\u30bf\u30fc\u30f3\u3067\u898b\u305f\u5e74\u521d\u6765\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3067\u306f\u3001\u4e16\u754c\u6700\u5927\u306e\u682a\u5f0f\u5e02\u5834\u3067\u3042\u308b\u7c73\u56fd\u306f\uff11\uff12\u6708\u4e0a\u65ec\u6642\u70b9\u3067\u306f\uff12\uff10\u4f4d\u306b\u6c88\u3093\u3067\u3044\u305f\u3002\u9996\u4f4d\u3068\u306a\u3063\u305f\u306e\u306f\u97d3\u56fd\u3068\u30b9\u30da\u30a4\u30f3\u3060\u3002<\/p>\n
\u4e8c\u6841\u306e\u30ea\u30bf\u30fc\u30f3\u3092\u5f97\u308b\u305f\u3081\u306b\u306f\u3001\u7c73\u56fd\u306b\u3068\u3069\u307e\u308b\u5fc5\u8981\u306f\u307e\u3063\u305f\u304f\u306a\u304b\u3063\u305f\u3002\u30b4\u30fc\u30eb\u30c9\u30de\u30f3\u30fb\u30b5\u30c3\u30af\u30b9\u306b\u3088\u308b\u3068\u3001\u904e\u53bb\uff11\uff12\u30ab\u6708\u9593\u306b\u4e16\u754c\u5168\u90e8\u306e\u56fd\u306e\u682a\u5f0f\u5e02\u5834\u306e\uff18\uff14\uff05\u304c\uff11\uff10\uff05\u8d85\u4e0a\u6607\u3057\u3066\u3044\u308b\u3002<\/p>\n
\u56fd\u969b\u7684\u306b\u682a\u5f0f\u304c\u6765\u5e74\u3082\u5f15\u304d\u7d9a\u304d\u597d\u8abf\u3092\u7dad\u6301\u3059\u308b\u53ef\u80fd\u6027\u306f\u9ad8\u3044\u3002<\/p>\n
\u6b27\u5dde\u682a\u306f\u3001\u666f\u6c17\u56de\u5fa9\u306e\u6069\u6075\u3092\u53d7\u3051\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002\u878d\u8cc7\u6b8b\u9ad8\u306f\u65e2\u306b\u5897\u52a0\u50be\u5411\u306b\u3042\u308b\u307b\u304b\u3001\u5730\u57df\u306e\u8cfc\u8cb7\u62c5\u5f53\u8005\u6307\u6570\uff08\uff30\uff2d\uff29\uff09\u306f\uff15\uff10\u3092\u5927\u304d\u304f\u4e0a\u56de\u308a\u3001\u7d4c\u6e08\u62e1\u5927\u3092\u793a\u3057\u3066\u3044\u308b\u3002\u3053\u306e\u666f\u6c17\u5faa\u74b0\u7684\u306a\u62e1\u5927\u306f\u3001\uff12\uff16\u5e74\u306b\u306f\u30c9\u30a4\u30c4\u306e\u8ca1\u653f\u523a\u6fc0\u7b56\u3068\u6b27\u5dde\u5168\u4f53\u306e\u9632\u885b\u652f\u51fa\u62e1\u5927\u306b\u3088\u3063\u3066\u52a0\u901f\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002<\/p>\n
\u3053\u3046\u3057\u305f\u72b6\u6cc1\u306f\u3001\u7279\u306b\u30e6\u30fc\u30ed\u306e\u5bfe\u30c9\u30eb\u70ba\u66ff\u30ec\u30fc\u30c8\u304c\u5b89\u5b9a\u5316\u3059\u308c\u3070\u3001\u30c8\u30e9\u30c3\u30af\u3084\u9271\u5c71\u6a5f\u68b0\u30e1\u30fc\u30ab\u30fc\u306a\u3069\u306e\u6b27\u5dde\u306e\u5faa\u74b0\u578b\u4f01\u696d\u306e\u696d\u7e3e\u3092\u652f\u3048\u308b\u306f\u305a\u3060\u3002<\/p>\n
\u65e5\u672c\u3067\u306f\u3001\u5065\u5168\u306a\u30a4\u30f3\u30d5\u30ec\u3068\u3001\u591a\u304f\u306e\u4f01\u696d\u304c\u52b9\u7387\u5316\u3068\u4e2d\u6838\u4e8b\u696d\u3078\u306e\u96c6\u4e2d\u3092\u56f3\u308b\u69cb\u9020\u6539\u9769\u304c\u76f8\u307e\u3063\u3066\u3001\uff12\uff16\u5e74\u3082\u53ce\u76ca\u6027\u3068\u682a\u4e3b\u9084\u5143\u304c\u9ad8\u307e\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002<\/p>\n
\u3055\u3089\u306b\u3001\u65e5\u672c\u306e\u56fd\u4f1a\u306f\uff11\uff11\uff17\uff10\u5104\u30c9\u30eb\u306e\u88dc\u6b63\u4e88\u7b97\u6848\u3092\u6210\u7acb\u3055\u305b\u3001\u5927\u898f\u6a21\u306a\u8ca1\u653f\u523a\u6fc0\u7b56\u3092\u9032\u3081\u308b\u3002\u3053\u306e\u3053\u3068\u3082\u5e83\u7bc4\u306a\u7d4c\u6e08\u3092\u652f\u3048\u308b\u306f\u305a\u3060\u3002<\/p>\n
\u65e5\u672c\u306f\uff12\uff16\u5e74\u306b\u91d1\u5229\u4e0a\u6607\u304c\u898b\u8fbc\u307e\u308c\u308b\u552f\u4e00\u306e\u4e3b\u8981\u56fd\u3068\u306a\u308b\u3002\u3053\u308c\u306f\u9280\u884c\u30bb\u30af\u30bf\u30fc\u3092\u5f8c\u62bc\u3057\u3057\u3001\u6210\u9577\u3078\u306e\u91cd\u5927\u306a\u8db3\u304b\u305b\u306b\u306f\u306a\u3089\u306a\u3044\u3060\u308d\u3046\u3002<\/p>\n
\u65b0\u8208\u5e02\u5834\u3067\u306f\u30c9\u30eb\u5b89\u3001\u4e16\u754c\u7684\u306a\u4f4e\u91d1\u5229\u3001\u8cbf\u6613\u6469\u64e6\u3084\u5730\u653f\u5b66\u7684\u7dca\u5f35\u306b\u9069\u5fdc\u3055\u305b\u308b\u305f\u3081\u306e\u4e16\u754c\u306e\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\uff08\u4f9b\u7d66\u7db2\uff09\u306e\u518d\u7de8\u306b\u4f34\u3046\u8cc7\u91d1\u30fb\u6295\u8cc7\u306e\u6d41\u5165\u304c\u4f01\u696d\u53ce\u76ca\u3092\u652f\u3048\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002<\/p>\n
\u6700\u5f8c\u306b\u3001\u79c1\u306e\u6bcd\u56fd\u3067\u3042\u308b\u82f1\u5e02\u5834\u306f\uff12\uff15\u5e74\u3001\u6ce8\u76ee\u5ea6\u306e\u9ad8\u3044\uff21\uff29\u95a2\u9023\u9298\u67c4\u306e\u52a9\u3051\u3092\u501f\u308a\u305a\u306b\u7c73\u56fd\u3092\u4e0a\u56de\u308b\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3092\u793a\u3057\u3066\u3044\u308b\u3002\u7279\u306b\u73fe\u5728\u306e\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u304c\u5148\u9032\u56fd\u3067\u6700\u3082\u4f4e\u6c34\u6e96\u306b\u3042\u308b\u3053\u3068\u304b\u3089\u3001\u7740\u5b9f\u3067\u5b89\u5b9a\u3057\u305f\u30ea\u30bf\u30fc\u30f3\u3092\u63d0\u4f9b\u3059\u308b\u53ef\u80fd\u6027\u3092\u79d8\u3081\u3066\u3044\u308b\u3002\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306e\u8ab2\u984c\u306f\u3001\u82f1\u56fd\u306b\u4f9d\u7136\u6f02\u3046\u30cd\u30ac\u30c6\u30a3\u30d6\u306a\u5e02\u5834\u5fc3\u7406\u3092\u514b\u670d\u3067\u304d\u308b\u3060\u3051\u306e\u8cea\u306e\u9ad8\u3044\u82f1\u4f01\u696d\u306e\u898b\u6975\u3081\u3060\u3002<\/p>\n
\uff1c\u8131\u30cf\u30a4\u30c6\u30af\u9298\u67c4\uff1e<\/p>\n
\u30bb\u30af\u30bf\u30fc\u5225\u3067\u3082\u540c\u69d8\u306e\u50be\u5411\u304c\u898b\u3089\u308c\u308b\u3002\u7c73\u30cf\u30a4\u30c6\u30af\u682a\u304c\u5168\u3066\u3067\u306f\u306a\u3044\u3002<\/p>\n
\u6b27\u5dde\u9280\u884c\u682a\u306e\u904e\u53bb\uff15\u5e74\u9593\u306e\u30ea\u30bf\u30fc\u30f3\u306f\u3001\u73fe\u5730\u901a\u8ca8\u30d9\u30fc\u30b9\u3067\u8d85\u5927\u578b\u30cf\u30a4\u30c6\u30af\u682a\u300c\u30de\u30b0\u30cb\u30d5\u30a3\u30bb\u30f3\u30c8\u30fb\u30bb\u30d6\u30f3\uff08\uff2d\uff17\uff09\u300d\u9298\u67c4\u3092\uff14\uff10\uff05\u30dd\u30a4\u30f3\u30c8\u4e0a\u56de\u3063\u3066\u3044\u308b\u3002\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u30d0\u30d6\u30eb\u306b\u306a\u3063\u3066\u3044\u308b\u3068\u306e\u8b70\u8ad6\u306f\u5168\u304f\u51fa\u3066\u3053\u306a\u3044\u3002\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u306f\u5f15\u304d\u7d9a\u304d\u9577\u671f\u5e73\u5747\u3092\u4e0b\u56de\u3063\u3066\u304a\u308a\u3001\u5f53\u793e\u306e\u5206\u6790\u306b\u3088\u308b\u3068\u6b27\u5dde\u9280\u884c\u30bb\u30af\u30bf\u30fc\u5168\u4f53\u3067\u306f\u4eca\u5f8c\uff13\u5e74\u9593\u306b\u914d\u5f53\u3068\u81ea\u793e\u682a\u8cb7\u3044\u3092\u901a\u3058\u3066\u6642\u4fa1\u7dcf\u984d\u306e\u7d04\uff12\uff14\uff05\u3092\u682a\u4e3b\u306b\u9084\u5143\u3059\u308b\u898b\u901a\u3057\u3060\u3002<\/p>\n
\u30d8\u30eb\u30b9\u30b1\u30a2\u682a\u306f\u8fd1\u5e74\u3001\u5e02\u5834\u5e73\u5747\u3092\u4e0b\u56de\u308b\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u306b\u3068\u3069\u307e\u3063\u3066\u3044\u308b\u3002\u3057\u304b\u3057\u3001\u9700\u8981\u304c\u666f\u6c17\u5faa\u74b0\u306b\u307b\u307c\u5f71\u97ff\u3055\u308c\u306a\u3044\u3053\u306e\u4f1d\u7d71\u7684\u306a\u30c7\u30a3\u30d5\u30a7\u30f3\u30b7\u30d6\uff08\u9632\u885b\uff09\u30bb\u30af\u30bf\u30fc\u306f\u3001\u5e02\u5834\u304c\u6df7\u4e71\u3057\u305f\u6642\u671f\u3067\u3055\u3048\u3082\u6b74\u53f2\u7684\u306b\u5805\u8abf\u304b\u3064\u6301\u7d9a\u7684\u306a\u53ce\u76ca\u6210\u9577\u3092\u793a\u3057\u3066\u304d\u305f\u3002<\/p>\n
\u5f53\u793e\u306e\u5206\u6790\u306b\u3088\u308b\u3068\u30d8\u30eb\u30b9\u30b1\u30a2\u682a\u306f\u73fe\u5728\u3001\u30b0\u30ed\u30fc\u30d0\u30eb\u682a\u5f0f\u3088\u308a\uff12\uff18\uff05\u5272\u5b89\u306a\u6c34\u6e96\u3067\u53d6\u5f15\u3055\u308c\u3066\u3044\u308b\u3002\u3053\u306e\u6c34\u6e96\u306f\u904e\u53bb\uff13\uff10\u5e74\u9593\u306b\uff12\u5ea6\u3057\u304b\u89b3\u6e2c\u3055\u308c\u3066\u3044\u306a\u3044\u3002\u3044\u305a\u308c\u306e\u5834\u5408\u3067\u3082\u3001\u305d\u306e\u5f8c\uff11\uff12\u30ab\u6708\u9593\u3067\u30bb\u30af\u30bf\u30fc\u306f\uff12\uff10\uff05\u8d85\u306e\u30ea\u30bf\u30fc\u30f3\u3092\u8a18\u9332\u3057\u305f\u3002<\/p>\n
![\"This](\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2026\/01\/chart.png\")
This chart shows the earnings growth percentage for MSCI World sectors. Healthcare has seen persistent earnings growth compared with other sectors.<\/p>\n
\uff21\uff29\u95a2\u9023\u306e\u30c6\u30fc\u30de\u3067\u3082\u3001\u904e\u5927\u306a\u4fa1\u683c\u3092\u652f\u6255\u308f\u305a\u306b\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3092\u7372\u5f97\u3059\u308b\u65b9\u6cd5\u306f\u5b58\u5728\u3059\u308b\u3002\uff21\uff29\u306e\u96fb\u529b\u9700\u8981\u306f\u3001\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u306b\u96fb\u529b\u3092\u4f9b\u7d66\u3059\u308b\u516c\u76ca\u4f01\u696d\u3092\u542b\u3081\u3066\u30af\u30ea\u30fc\u30f3\u30a8\u30cd\u30eb\u30ae\u30fc\u3068\u9001\u96fb\u7db2\u30a4\u30f3\u30d5\u30e9\u306b\u6295\u8cc7\u3059\u308b\u5fc5\u8981\u6027\u3092\u6d6e\u304d\u5f6b\u308a\u306b\u3057\u3066\u3044\u308b\u3002<\/p>\n
\u91cd\u8981\u306a\u306e\u306f\u3001\u30af\u30ea\u30fc\u30f3\u30a8\u30cd\u30eb\u30ae\u30fc\u682a\u3068\u4e0a\u5834\u30a4\u30f3\u30d5\u30e9\u4f01\u696d\u306e\u4e21\u65b9\u304c\u5e02\u5834\u5168\u4f53\u306b\u5bfe\u3057\u3066\u5272\u5b89\u3067\u53d6\u5f15\u3055\u308c\u3066\u3044\u308b\u70b9\u3060\u3002\uff21\uff29\u6295\u8cc7\u306f\u5fc5\u305a\u3057\u3082\u9ad8\u4fa1\u3067\u3042\u308b\u5fc5\u8981\u306f\u306a\u3044\u3002<\/p>\n
\uff21\uff29\u30d6\u30fc\u30e0\u304c\uff12\uff16\u5e74\u306b\u3055\u3089\u306b\u52e2\u3044\u3092\u5897\u3059\u53ef\u80fd\u6027\u306f\u3082\u3061\u308d\u3093\u3042\u308b\u3002\u7279\u306b\u52b9\u7387\u6027\u5411\u4e0a\u306b\u3088\u308b\u30ea\u30bf\u30fc\u30f3\u304c\u3088\u308a\u660e\u78ba\u306b\u306a\u308a\u59cb\u3081\u305f\u5834\u5408\u3060\u3002\u3057\u304b\u3057\u3001\u9ad8\u3044\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u304c\u5e02\u5834\u3092\u4e0d\u5b89\u5b9a\u306b\u4fdd\u3064\u53ef\u80fd\u6027\u306f\u4f9d\u7136\u9ad8\u3044\u3002\u30ea\u30b9\u30af\u3078\u306e\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3092\u6e1b\u3089\u3057\u305f\u3044\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306f\u3001\u591a\u304f\u306e\u9078\u629e\u80a2\u304c\u5b58\u5728\u3059\u308b\u3002<\/p>\n
\uff08\u7b46\u8005\u306e\u30d8\u30ec\u30f3\u30fb\u30b8\u30e5\u30a8\u30eb\u6c0f\u306f\u7c73\u8cc7\u7523\u904b\u7528\u4f1a\u793e\u30d6\u30e9\u30c3\u30af\u30ed\u30c3\u30af\u306e\u30d5\u30a1\u30f3\u30c0\u30e1\u30f3\u30bf\u30eb\u682a\u5f0f\u90e8\u9580\u306e\u56fd\u969b\u6700\u9ad8\u6295\u8cc7\u8cac\u4efb\u8005\uff08\uff23\uff29\uff2f\uff09\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
\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
\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","protected":false},"excerpt":{"rendered":"
\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\u8a3c\u5238\u53d6\u5f15\u6240\u3067\uff12\uff10\uff12\uff15\u5e74\uff18\u6708\u64ae\u5f71\u3002 REUTERS\/Adam Gray \uff3b\u30ed\u30f3\u30c9\u30f3\u3000\uff11\uff12\u6708\uff12\uff12\u65e5\u3000\u30ed\u30a4\u30bf\u30fc\uff3d – \uff12\uff10\uff12\uff16\u5e74\u306b\u5b89\u5b9a\u3057\u305f\u6295\u8cc7\u3092\u6c42\u3081\u308b\u682a\u5f0f\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u3001\u4eba\u5de5\u77e5\u80fd\uff08\uff21\uff29\uff09\u30d6\u30fc\u30e0\u3092\u8d85\u3048\u305f\u6295<\/p>\n","protected":false},"author":2,"featured_media":2733336,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[674789],"tags":[762691,762764,763282,14869,762699,762765,762712,654464,763014,52165,763347,764221,763348,770067,762732,762814,762879,762880,222298,764306,762715,762682,52896,73796,763076,236652,766561,766116,769718,762892,762774,102465,762698,762700,25766,4626,762734,762783,589033,763345,762717,763039,815056,762915,135664,39442,762721,762857,188089,762723,762724,762725,762726,764392,762684,762685,79981,785331,21138,766558,762777,96480,795674,795675,763021,763032,762697,763023,764307,764308,238274,762729,762813,763339,763856,764309,763857,622598,765653,110753,53321,157336,763352,764310,765456,764311,764610,688579,763028,170696,762889,104159,762730,762731,705736,784990,89874,30355,762733,70245,72702],"class_list":{"0":"post-2733335","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-united-states","8":"tag-amers","9":"tag-anlins","10":"tag-arti","11":"tag-asia","12":"tag-asxpac","13":"tag-bact","14":"tag-bisv","15":"tag-biz","16":"tag-bmat","17":"tag-bnk","18":"tag-bnks","19":"tag-bnks1","20":"tag-bsvc","21":"tag-buyb","22":"tag-ceeu","23":"tag-cen","24":"tag-chip","25":"tag-chip1","26":"tag-clm","27":"tag-cmpelc","28":"tag-cmpny","29":"tag-cycs","30":"tag-de","31":"tag-def","32":"tag-defbuy","33":"tag-dept","34":"tag-destnojpzam","35":"tag-destnojpztm","36":"tag-div","37":"tag-easia","38":"tag-eci","39":"tag-eco","40":"tag-emea","41":"tag-emrg","42":"tag-es","43":"tag-eu","44":"tag-europ","45":"tag-ezc","46":"tag-fin","47":"tag-fine1","48":"tag-fins","49":"tag-frgt","50":"tag-frtrck","51":"tag-frx","52":"tag-gen","53":"tag-hot","54":"tag-inds","55":"tag-infl","56":"tag-int","57":"tag-intag","58":"tag-invbis","59":"tag-invm","60":"tag-invm1","61":"tag-itec","62":"tag-jfor","63":"tag-jln","64":"tag-jp","65":"tag-jptopicbusiness-tech-ai","66":"tag-kr","67":"tag-mailod","68":"tag-mce","69":"tag-mine","70":"tag-minmac","71":"tag-minq","72":"tag-mtal","73":"tag-mtgfx","74":"tag-namer","75":"tag-netsv","76":"tag-phne","77":"tag-phones","78":"tag-pol","79":"tag-publ","80":"tag-rep","81":"tag-res","82":"tag-ret","83":"tag-rete","84":"tag-rgen","85":"tag-roi","86":"tag-rrlf","87":"tag-sci","88":"tag-semi","89":"tag-shop","90":"tag-shopal","91":"tag-sofw","92":"tag-sofw1","93":"tag-spcret","94":"tag-srchen","95":"tag-stx","96":"tag-swit","97":"tag-tech","98":"tag-teeq","99":"tag-tmt","100":"tag-tpt","101":"tag-tran","102":"tag-trn","103":"tag-united-states-of-america","104":"tag-us","105":"tag-usa","106":"tag-weu","107":"tag-70245","108":"tag-72702"},"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\/2733335","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=2733335"}],"version-history":[{"count":0,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/posts\/2733335\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/media\/2733336"}],"wp:attachment":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/media?parent=2733335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/categories?post=2733335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/tags?post=2733335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}