{"id":222551,"date":"2026-05-12T16:00:00","date_gmt":"2026-05-12T08:00:00","guid":{"rendered":"https:\/\/gothe.tw\/?p=222551"},"modified":"2026-05-12T16:00:00","modified_gmt":"2026-05-12T08:00:00","slug":"%e4%b8%ad%e6%9d%b1%e5%b1%80%e5%8b%a2%e8%ae%8a%e5%b9%bb%e8%a1%9d%e6%93%8a%e5%85%a8%e7%90%83%e9%a2%a8%e9%9a%aa%e7%89%88%e5%9c%96%ef%bc%8c%e6%8a%95%e8%b3%87%e8%80%85%e5%8d%b3%e6%99%82%e5%9b%9e%e6%87%89","status":"publish","type":"post","link":"https:\/\/gothe.tw\/?p=222551","title":{"rendered":"\u4e2d\u6771\u5c40\u52e2\u8b8a\u5e7b\u885d\u64ca\u5168\u7403\u98a8\u96aa\u7248\u5716\uff0c\u6295\u8cc7\u8005\u5373\u6642\u56de\u61c9"},"content":{"rendered":"
\n

\u7f8e\u570b\u8207\u4ee5\u8272\u5217\u5c0d\u4f0a\u6717\u958b\u6230\uff0c\u89f8\u767c\u5730\u7de3\u653f\u6cbb\u53ca\u80fd\u6e90\u5e02\u5834\u7684\u52d5\u76ea\u3002\u570b\u969b\u8ca8\u5e63\u57fa\u91d1\u7d44\u7e54 (IMF) \u8b66\u544a\uff0c\u885d\u7a81\u5347\u7d1a\u53ef\u80fd\u4ee4\u5168\u7403\u7d93\u6fdf\u9677\u5165\u8870\u9000\uff0c\u5373\u4f7f\u5728\u6700\u6a02\u89c0\u7684\u60c5\u6cc1\u4e0b\uff0c\u4e5f\u6703\u5e36\u4f86\u9577\u9060\u640d\u5bb3\u3002\u5404\u754c\u6b63\u91cd\u65b0\u8a55\u4f30\u5404\u570b\u98a8\u96aa\uff0c\u6295\u8cc7\u8005\u5df2\u958b\u59cb\u8de8\u53f8\u6cd5\u7ba1\u8f44\u5340\u8abf\u6574\u8cc7\u672c\u914d\u7f6e\u53ca\u500b\u4eba\u98a8\u96aa\u627f\u64d4\u3002<\/p>\n

\u502b\u6566<\/span>2026\u5e745\u670812\u65e5<\/span> \/\u7f8e\u901a\u793e\/ \u2014 Henley & Partners\u2013AlphaGeo \u6700\u65b0\u767c\u5e03\u7684\u5168\u7403\u6295\u8cc7\u98a8\u96aa\u8207\u97cc\u6027\u6307\u6578<\/a> (Global Investment Risk and Resilience Index) \u986f\u793a\uff0c\u5168\u7403\u98a8\u96aa\u6392\u540d\u6b63\u7d93\u6b77\u5927\u5e45\u6d17\u724c\u3002\u8a72\u6307\u6578\u7d50\u5408\u4e86\u7d50\u69cb\u97cc\u6027\u3001\u5373\u6642\u5e02\u5834\u8a0a\u865f\u53ca\u6295\u8cc7\u8005\u884c\u70ba\uff0c\u4ee5\u6578\u64da\u70ba\u672c\uff0c\u6e05\u6670\u5448\u73fe\u5404\u570b\u53ca\u6295\u8cc7\u8005\u5982\u4f55\u61c9\u5c0d\u6025\u901f\u8f49\u8b8a\u7684\u5730\u7de3\u653f\u6cbb\u72c0\u6cc1\u3002<\/p>\n

\u91dd\u5c0d\u6b64\u7279\u5225\u7248\u672c\uff0c\u6307\u6578\u4ee5 2026 \u5e74 4 \u6708 1 \u65e5\u7684\u570b\u5bb6\u98a8\u96aa\u6ea2\u50f9 (Country Risk Premium, CRP) \u6578\u64da\u70ba\u57fa\u790e\uff0c\u518d\u914d\u5408 Henley & Partners \u7576\u4e0b\u7684\u5ba2\u6236\u9700\u6c42\u8da8\u52e2\uff0c\u9032\u884c\u4e86\u56b4\u683c\u7684\u58d3\u529b\u6e2c\u8a66\u3002<\/p>\n

\u91cd\u7d44\u4e4b\u52e2\u6025\u901f\u63a8\u9032<\/b><\/p>\n

AlphaGeo<\/a> \u5275\u8fa6\u4eba\u517c\u884c\u653f\u7e3d\u88c1 Parag Khanna<\/a> \u535a\u58eb\u8868\u793a\uff1a\u300c\u97cc\u6027\u5c6c\u65bc\u9577\u671f\u7279\u8cea\uff0c\u7121\u6cd5\u4e00\u77ac\u9593\u9006\u8f49\u3002 \u4f46\u98a8\u96aa\uff0c\u537b\u80fd\u77ac\u606f\u842c\u8b8a\u3002 \u5e02\u5834\u6bcf\u5c0f\u6642\u90fd\u5728\u70ba\u98a8\u96aa\u91cd\u65b0\u5b9a\u50f9\u3002\u300d<\/p>\n

\u50b3\u7d71\u907f\u98a8\u6e2f\u4f9d\u7136\u4f4d\u5c45\u6392\u540d\u524d\u5217\uff0c\u9818\u5148\u570b\u5bb6\u5305\u62ec\u745e\u58eb\uff08\u7b2c 1 \u4f4d\uff09\u3001\u4e39\u9ea5\uff08\u7b2c 2 \u4f4d\uff09\u3001\u745e\u5178\uff08\u7b2c 3 \u4f4d\uff09\u3001\u65b0\u52a0\u5761\uff08\u7b2c 4 \u4f4d\uff09\u53ca\u632a\u5a01\uff08\u7b2c 5 \u4f4d\uff09\uff0c\u9019\u7a81\u986f\u5317\u6b50\u570b\u5bb6\u7684\u6574\u9ad4\u5be6\u529b\u53ca\u7a69\u5b9a\u5236\u5ea6\u3002<\/p>\n

\u591a\u500b\u65b0\u8208\u7d93\u6fdf\u9ad4\u7684\u6392\u540d\u986f\u8457\u6500\u5347\uff0c\u7576\u4e2d\u4ee5\u5370\u5ea6\uff08\u4e0a\u5347 40 \u4f4d\u81f3\u7b2c 64 \u4f4d\uff09\u53ca\u83f2\u5f8b\u8cd3\uff08\u4e0a\u5347 40 \u4f4d\u81f3\u7b2c 74 \u4f4d\uff09\u6700\u70ba\u7a81\u51fa\uff0c\u6b64\u5916\u571f\u8033\u5176\uff08\u4e0a\u5347 32 \u4f4d\u81f3\u7b2c 88 \u4f4d\uff09\u3001\u58a8\u897f\u54e5\uff08\u4e0a\u5347 30 \u4f4d\u81f3\u7b2c 66 \u4f4d\uff09\u53ca\u6469\u6d1b\u54e5\uff08\u4e0a\u5347 28 \u4f4d\u81f3\u7b2c 70 \u4f4d\uff09\u4e5f\u6709\u660e\u986f\u5347\u5e45\u3002<\/p>\n

Henley & Partners<\/a> \u4e3b\u5e2d Christian H. Kaelin \u535a\u58eb<\/a> \u8aaa\uff1a\u300c\u6211\u5011\u76ee\u524d\u770b\u5230\u7684\uff0c\u4e0d\u55ae\u662f\u91cd\u65b0\u5b9a\u50f9\uff0c\u66f4\u662f\u5206\u9053\u63da\u9463\u3002 \u4e16\u4e0a\u4e26\u7121\u4efb\u4f55\u570b\u5bb6\u80fd\u7368\u529b\u8ce6\u4e88\u6052\u4e45\u5b89\u5168\uff0c\u4ea6\u7121\u6cd5\u56ca\u62ec\u6295\u8cc7\u8005\u6e34\u6c42\u7684\u6240\u6709\u5143\u7d20\u2014\u2014\u7a69\u5b9a\u3001\u51c6\u5165\u3001\u6a5f\u9047\u53ca\u4fdd\u969c\u3002 \u7576\u5404\u7a2e\u5143\u7d20\u7d50\u5408\u8d77\u4f86\uff0c\u4fbf\u80fd\u7de0\u9020\u51fa\u66f4\u5f37\u5927\u7684\u512a\u52e2\uff1a\u9078\u64c7\u7a7a\u9593\u3002\u300d\u00a0<\/p>\n

\u6392\u540d\u8d77\u843d\u53cd\u6620\u4fe1\u5fc3\u7684\u91cd\u65b0\u4f48\u5c40\uff1a\u6295\u8cc7\u8005\u6b63\u4f9d\u7167\u653f\u7b56\u7684\u53ef\u4fe1\u6027\u3001\u7b56\u7565\u4f4d\u7f6e\u53ca\u9762\u5c0d\u5730\u7de3\u653f\u6cbb\u885d\u64ca\u7684\u97cc\u6027\uff0c\u5340\u5206\u5404\u570b\u3002<\/p>\n

Grant Thornton China \u5408\u5925\u4eba Tim Klatte \u535a\u58eb<\/a> \u6307\u51fa\uff1a\u300c\u904e\u53bb\u90a3\u7a2e\u300e\u767c\u9054\u5373\u5b89\u5168\uff0c\u65b0\u8208\u5373\u98a8\u96aa\u300f\u7684\u50b3\u7d71\u8ad6\u8ff0\uff0c\u6b63\u8569\u7136\u7121\u5b58\u3002 \u6295\u8cc7\u8005\u5df2\u4e0d\u518d\u6309\u5730\u5340\u677f\u584a\u4f86\u601d\u8003\uff0c\u800c\u662f\u9010\u500b\u570b\u5bb6\u8a55\u4f30\u97cc\u6027\uff0c\u7136\u5f8c\u76f8\u61c9\u8abf\u6574\u8cc7\u672c\u914d\u7f6e\u53ca\u500b\u4eba\u5b9a\u4f4d\u7b56\u7565\u3002\u300d<\/p>\n

\u5728\u4e3b\u8981\u7d93\u6fdf\u9ad4\u4e4b\u4e2d\uff0c\u4e2d\u570b\uff08\u4e0a\u5347 6 \u4f4d\u81f3\u7b2c 31 \u4f4d\uff09\u7684\u6392\u540d\u8b8a\u52d5\u6700\u70ba\u77da\u76ee\uff0c\u800c\u52a0\u62ff\u5927\uff08\u4e0b\u8dcc 4 \u4f4d\u81f3\u7b2c 15 \u4f4d\uff09\u5247\u662f\u4e03\u570b\u96c6\u5718 (G7) \u5167\u8dcc\u5e45\u6700\u5927\u7684\u6210\u54e1\u3002 \u7f8e\u570b\uff08\u7b2c 24 \u4f4d\uff09\u53ca\u82f1\u570b\uff08\u7b2c 19 \u4f4d\uff09\u7684\u6392\u540d\u4fdd\u6301\u4e0d\u8b8a\u3002<\/p>\n

\u90a3\u4e9b\u6df1\u9677\u885d\u7a81\u3001\u5236\u88c1\u6216\u7d50\u69cb\u8106\u5f31\u7684\u570b\u5bb6\uff0c\u6392\u540d\u6025\u632b\uff0c\u7576\u4e2d\u5305\u62ec\u767d\u4fc4\u7f85\u65af\uff08\u6025\u632b 57 \u4f4d\u81f3\u7b2c 117 \u4f4d\uff09\u3001\u6ce2\u9ed1\uff08\u4e0b\u8dcc 32 \u4f4d\u81f3\u7b2c 89 \u4f4d\uff09\u53ca\u70cf\u514b\u862d\uff08\u4e0b\u6ed1 28 \u4f4d\u81f3\u7b2c 131 \u4f4d\uff09\u3002<\/p>\n

\u6295\u8cc7\u8005\u53cd\u61c9\u52a0\u5287<\/b><\/p>\n

\u7a2e\u7a2e\u8b8a\u5316\uff0c\u5df2\u53cd\u6620\u5728\u6295\u8cc7\u8005\u884c\u70ba\u4e4b\u4e2d\u3002<\/p>\n

Henley & Partners \u7684\u5167\u90e8\u6578\u64da\u986f\u793a\uff0c\u81ea 2026 \u5e74 1 \u6708\u81f3\u4eca\uff0c\u5df2\u6536\u5230\u4f86\u81ea\u903e 70 \u500b\u570b\u7c4d\u3001\u6a6b\u8de8 40 \u591a\u500b\u5c45\u7559\u53ca\u516c\u6c11\u8eab\u4efd\u8a08\u5283\u7684\u7533\u8acb\u3002<\/p>\n

\u5c0d\u4e3b\u6b0a\u591a\u5143\u5316\u7684\u9700\u6c42\u6b63\u986f\u8457\u4e0a\u5347\uff0c\u5e0c\u81d8<\/a> (+61%)\u3001\u610f\u5927\u5229<\/a> (+43%)\u3001\u99ac\u723e\u4ed6<\/a> (+38%) \u53ca \u7459\u9b6f<\/a> (+200%) \u7684\u7533\u8acb\u6578\u91cf\u5747\u6709\u589e\u52a0\uff1b\u81f3\u65bc\u6295\u8cc7\u79fb\u6c11\u9078\u9805\u7684\u67e5\u8a62\u6578\u91cf\uff0c\u7d10\u897f\u862d<\/a> \u4e0a\u5347 165%\u3001\u54e5\u65af\u9054\u9ece\u52a0<\/a>\u589e\u52a0 44%\u3001\u571f\u8033\u5176<\/a>\u5247\u4e0a\u5347 35%\u3002<\/p>\n

\u4e2d\u6771\u885d\u7a81\u6b63\u5728\u63a8\u52d5\u9019\u7a2e\u91cd\u65b0\u5b9a\u4f4d\u3002<\/p>\n

\u4e2d\u6771\u653f\u6cbb\u7d93\u6fdf\u5b78\u5bb6 Robert Mogielnicki \u535a\u58eb<\/a> \u900f\u9732\uff1a\u300c\u76ee\u524d\u7684\u885d\u7a81\uff0c\u5927\u5927\u589e\u52a0\u4e86\u6295\u8cc7\u8005\u3001\u653f\u5e9c\u53ca\u5168\u7403\u6d41\u52d5\u4eba\u58eb\u6240\u9762\u5c0d\u7684\u98a8\u96aa\u3002 \u970d\u723e\u6728\u8332\u6d77\u5cfd\u4ecd\u5c07\u662f\u4e00\u689d\u722d\u8b70\u4e0d\u4f11\u7684\u54bd\u5589\u8981\u9053\uff1b\u800c\u5730\u7de3\u653f\u6cbb\u98a8\u96aa\u6ea2\u50f9\u6050\u6015\u96e3\u4ee5\u6d88\u6563\uff0c\u7e31\u4f7f\u6700\u7d42\u80fd\u900f\u904e\u8ac7\u5224\u53d6\u5f97\u6210\u679c\u4ea6\u7136\u3002\u300d<\/p>\n

\u5728\u6d77\u7063\u5730\u5340\uff0c\u4f86\u81ea\u963f\u806f\u914b (UAE) \u5ba2\u6236\u7684\u67e5\u8a62\u91cf\u589e\u52a0\u4e86 41%\uff0c\u7533\u8acb\u6578\u91cf\u4ea6\u4e0a\u5347\u4e86 26%\uff0c\u7576\u4e2d\u4e3b\u8981\u52d5\u529b\u4f86\u81ea\u6b63\u5728\u5c0b\u6c42\u66f4\u591a\u9078\u64c7\u7684\u5916\u7c4d\u4eba\u58eb\u3002<\/p>\n

\u5118\u7ba1\u6b50\u6d32\u6838\u5fc3\u7d93\u6fdf\u9ad4\u5728\u76f8\u5c0d\u6bd4\u8f03\u4e0b\u4ecd\u5c55\u73fe\u51fa\u97cc\u6027\uff0c\u4f46\u6574\u9ad4\u524d\u666f\u537b\u8d8a\u4f86\u8d8a\u8106\u5f31\u3002<\/p>\n

\u7372\u734e\u8a18\u8005\u517c\u5730\u7de3\u653f\u6cbb\u8a55\u8ad6\u54e1 Misha Glenny<\/a> \u8868\u793a\uff1a\u300c\u5728\u77ed\u671f\u4e4b\u5167\uff0c\u6b50\u6d32\u7d93\u6fdf\u96e3\u514d\u8209\u6b65\u7dad\u8271\uff0c\u7136\u800c\u5176\u958b\u59cb\u51dd\u805a\u6210\u4e00\u500b\u653f\u6cbb\u9ad4\u7cfb\u7684\u7a2e\u7a2e\u8de1\u8c61\uff0c\u9810\u793a\u4ecd\u6709\u671b\u7e7c\u7e8c\u5728\u6307\u6578\u4e2d\u4f54\u64da\u524d\u5217\u4f4d\u7f6e\u3002\u300d \u4f46\u4ed6\u8b66\u544a\uff0c\u9019\u7a2e\u97cc\u6027\u80cc\u5f8c\u6697\u85cf\u66f4\u6df1\u5c64\u7684\u7d50\u69cb\u58d3\u529b\uff0c\u5305\u62ec\u589e\u9577\u75b2\u4e4f\u3001\u80fd\u6e90\u7cfb\u7d71\u8106\u5f31\uff0c\u4ee5\u81f3\u6574\u500b\u6b50\u6d32\u5927\u9678\u65e5\u8da8\u56b4\u91cd\u7684\u653f\u6cbb\u5206\u88c2\u3002<\/p>\n

\u95b1\u8b80\u5b8c\u6574\u65b0\u805e\u7a3f<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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