美国从1月份开始,每月缩减量化宽松货币政策(QE)规模100亿美元。对世界市场而言,将加快初级产品行情下行,以及促成从发达国家到新兴市场的资本流动逆转。美联储退出量化宽松,进一步减少了由于货币供给极度膨胀而带来的投机需求。由于金融市场炒家继续以中东乱局为题材抬高油价的空间基本被消除,近两年在初级产品下行进程中最坚挺的油价因此丧失了强有力的支持。而且,此前持续十年之久的从发达国家到新兴市场的资本流动基础是新兴市场经济高增长,并得到了发达国家 Since January, the United States has reduced its quantitative easing monetary policy (QE) by 10 billion U.S. dollars each month. For the world market, it will accelerate the downturn in the prices of primary products as well as reverse the capital flow from developed countries to emerging markets. The Fed’s withdrawal from quantitative easing further reduced the speculative demand brought by the extreme expansion of the money supply. As financial market speculators continued to raise the price of oil in the Middle East as a theme, the space for raising oil prices was basically eliminated. As a result, the strongest oil prices in the downward movement of primary products in the past two years have lost strong support. Moreover, the previous 10 years of capital flows from developed countries to emerging markets were based on the high growth of the emerging market economy and the well-developed countries