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1、 报告说明!#$CIFER AI%&()*+,-./01234(56789:A Users Guide to Restructuring the Global Trading System;?ABCDEF%&GHIJKLMNOPQRSTUV!WXRYZY_ab+Gc 1.YYc%&defWa ghijklmnH opqZrW=st/uvwE 2.b+Gb+Gc%&xytzd|3 YZKsH:;+G=aE%&o“”LMxytz,AuE 0f uKB-E https:/ Miran,A Users Guide to Restructuring the Global Trading System,2
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10、X23s4l1u7(dE nsT,“”_01234(sgh,bs2dE 9 三关税:特朗普的“武器”再出鞘 nMsBs,“_”Es“_”7ssZtXoj“#pqGDP 4Z.rEX+l,-“2siC2E:;ubccstsu(:;ubccstsu(F_LMvSsW+|xSbcpFKs*5Ek_bc_lF1“wwx”dEhy+hFsO0,EzuwysWX0f.fghs.Ob0,bo0E=5Uzs#UbFc pm=e(1+)px Kpm sO:R.|;px yssO:RyWX|;e bc:./yWX;cE 9 e=1,=0Ezy 10%s(=0.1)wyWXfg 10%(e=0.9)ms pm=0.
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14、s”2b0?T4.E p 8 2 cJubbc(:;s*tcu:;s*tcu Vf=2018-2019 XsE=s?y,?1&5sABc 1.s*tE 2018-2019”s?E-%?E 15 2.#Ys/XE#Ysp|RSYEPbRw?2%s.iL(EbRUIXdtpE 3.Ew_wHh*twscSMs23_J02pE 4.l23uJ0noc luJ0L7(d P m.sysE:;uc:;uc“2fg2fg”=bR1“2fg”sTbR?UIsEIp2:hyyhR;bR*FuWXfgszE:;Ec+uF*:;Ec+uF*=?,“E”s=s.sDEfUy(sbR?p4BbRhsOE=k5,sEc
15、bF 20%Es8fEcE :;c*u:;c*u=7y2sU.CEFsE=01E.Cs6_!_XY23sEl23uJ0nobRuJ0ZmsE:;tcs:;tcs“”nE_=shC,2sW+F*tEFbc6syzSb0CWpEbR“1Xs23_?sTEs*tl23uJ0noKEsABl1“”q23rys./XBs01234(E 16 四货币:“海湖庄园协议”要来了?LM_,_“bc6”d2#if#E=sI=LMMFX.ubc.fgE:;C.fg:;C.fg=7yf.sVWXqLC.4D,FIsE,I“u”bc2b.uy.fgE:;:;“bcbc”sEFc+.sVsEFc+.sV.ubcbsE=7
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19、EEPA.Vm.ubcE 3.EFcbkWp.sVWXqLE 2“_“bc”XjWE=SLM,“”sA_FEFE 20 五安全工具:特朗普手中的“王牌”FGHbc2RLMFFC.Dhs“J0”E=KXkUC“J0”“J0”s=c 1.w!WXgRRSs23=JE 2.-4.XR.5&“!E 3.FZIb0E:;:;“#$%#$%&”cJ0ZscJ0Zs F23_A5rs)E 2.“K”c F23_J0A5uZ.*GsP2sCFsJ0Zm_B_ryJ9E 3.“”c F23_J0A5o0P2s l56N+sFU 21 lFs“J0Z”_E:h;:h;“”s”zcJ0Zms”zcJ0Zm zF23
20、_GuE.us”zb?sJ0ZmE=K,/b0RS“sJ0Y-lMF“J0Z”_Ef#?J0ZmsUsE:I;:I;“J0J0”sFsF l“J0”u23nob0HT&sc 1.01J0Oa.c b0qmdeuJ07lC01J0Oa.E 2.q.EFc zRS“qsJ0Y-b0kqsqc239Cq.sEFE 3.01Yc“J0”s5b001sYsDBE:;ntcs:;ntcs“J0/J0/”“J0”2Ks“0/”EIl“J0Zm”u23no2pqrys./XBs0123_4(E1EFsbk(1R2s”zEu s“qcd”i3d8lqc23_J02s_KE 22 六特朗普政策可能造成的经济后果=
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22、“AD5”c KFPA23jA5b0“X4”CsZtYZKY-E 2.K“”c KblHIQ CB4s_sE =2d;%0”yR_saE:I;:I;“00”c&psc&ps“rArA”c 1.e”c RSUIsCDEVE 2.&3Oc 3d&H“!E=FWpE“+bc”2ZXBsyzE:;:;“”cFdGcFdG=?2b0SF23_J0A5sF*t“”F$Eu#slsM_Xl56sE:;:;“bcjbcj”c2c2=,-?,“bcj”:8“j”;8IuiC23j.fgE=YCi“”sj9HCiCWXgC4.XE:;:;“kbckbc”cEFu(cEFu(zBi“j”2bs“k”Pc 1.7V“
23、”c I-H.dE.fgEbC 24 Wp7VbCsZt“”1E 2.“bV”c B52s“bV”bcIVs/%XE 3.Xsy“5”c 0C.-fgb0k“”E WOxdE zdIfEJ2X“5”Tc 1.“Ks2”c Ipst/qE 2.“bqV”c B5IVE 3.“2”c Ie”&3OR2;KZt?TqDBE:;:;“RJ0sRJ0s”cc 01J0Oa01J0Oa 1.01J0Oa.c b0qmdeumsJ07lC01J0Oa.E 2.q.EFc zRS“qsJ0Y-b0kqsqc239Cq.sEFE 3.01Yc“J0”s5b001sYsDBE:;:;“”ckws”zckws”z=
24、E”7y2s1)bkws”zc 1.“23”c us lrs23_)M _Xl56N+sFUE 25 2.“J0EF”czRS(sJ0Y-b0LEMCq.E 3.“bc”c.2pbCbcyF%$sE 4.“gFe”cb0deNWWXK“gFH”E 26 七结语:特朗普的政策逻辑 FFLMpU=saO7d*+S2s2vwc:;GAc56:;GAc56“”1.4D 2.23IJ.K 3.FIGH:;Lc.TFI:;Lc.TFI 1.?2.RS23IJ 3.Z.sVWXqL:mS.VWXs“!”;:h;(:h;(1.:1;“_a”:2;2:3;“u”bc:4;RyzsFsFI 2.bc2:1;cde
25、uiC23i“bcj”.fgE:2;kcB5BJ:IEEPA;.Vm.ubcE 3.J0:1;RJ0s2Il“?J0Zm”u“Ce23s”F 27 ds23F!Xg._FGrysE:2;J0Z2b0Swus(RMF23_J0A5sFsws2E:I;:I;1.“”bc”c”It,debcpE 2.“Q”cs2gh“IE 3.“|”cSwF23_J0A5sFsJs2E 4.“PS”ct5bc2”K12E:;EFd:;EFd 1.“j”cs23_7VsE 2.“5T”cds“d”E 3.“3”cI4_SF2yqE:;F”z:;F”z 1.23(.cusl_XE 2.J0Oacs“J0Z”bQq.EF
26、bE 3.cbcBcKbyF%$sE 4.gFecbQNWWXK“gFH”E 2b”5”,5bcE”XJ0E F2p234(sIJK.b0”S:;”,S:zsbcZts;ECWOx2ps=E 28 sZtl5&EELMXRE 29 参考文献 1.-u./9y2024E 2.Autor,David,David Dorn and Gordon Hanson.The China shock,learning from labor-market adjustment to large changes in trade.Annual Review of Economics 8,2016.3.Autor,
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41、UW+ceABW+c23VKUmUIB5FseAqLrsceABceABsf0k_p4Bs.EbUFseAqLIeAeA/XeA_MeAIUA5*FE hUW+gs4hiW+c8F+s23eSzs230“!jkRW+”luRs!5UGK23YE 2018 3 w 23 23b“301 TUQyUZmuBsQyUZmub/sQyEFUQyKZmBKbsBEZmHsmBB“BsEFUQyKZmrsmB_ 40 ”tm!_KVZmHymsEmBsZysmEmsF*FBQ“S|TsZmE R4Xs4XBsny/“,BsE!lBsynt“UcBs$BsDsBsX-BXkhBsXj_ijE ZmXhUV!
42、cyKZmZmZm“zXXhiZm%ZmUsZm4Fhs9Ew0X4.E BseAZmsABGEBseAXT1eA2eAEFBseAC2s9eAMEF2BseAC_sR92seAE Z“B”5KmsAB“hijsxs3+4(dUAB“?,UVYE II:2024-2034;!nt0g?yKFSUsE KFSUsL CDP 4ci 5%E GDP nF 2035 E K*FLsAbRntUc0qkE 0c7psbsJb4d;7uk3E4Kk3s*iCsKI*sz5+E“Kk3”sjDEABGK(s|TuKB.st/QEF|T“Kk3”stzKF1CDsfFHhiB*FLE 41 qcF 20 25 s“”KiCsDLM_q EqOqq!E“”OhA5aciCFkw4s/Xu3+4(EZ.“”squEhb“&4s_yEqiCTA5s“ZmB”rQyMZsETA5CesAB)eA eAE feA s2Zt!)C!sEE!sCs+fEFAbIsq!IiFms!/X/gEFqE kc*FfBu1sZukEsZm!y4EmsZmXIU!Cec 0kwuM “z04kM hkwfMIFZmVK ELMMNfKmUkZkkwfkw sZm4(E qrstuvhttps:/