全球经济失衡与新兴市场经济体主权财富基金的崛起

Global Economic Disequilibrium and Rise of Sovereign Wealth Funds in Emerging Economies

全球储备失衡和全球债务失衡导致新兴市场经济体持有庞大的对外净债权,新兴市场经济体对外净债权的扩张导致主权财富基金的崛起,这就是当代全球新兴市场经济体主权财富基金崛起的基本逻辑。我们有理由预期,随着全球经济失衡状况的进一步加剧,新兴市场经济体的主权财富基金规模还会持续增长。

The disequilibrium of global reserves and global debt led to a huge net external claims in emerging market economies, and the expansion of latter led to the rise of sovereign wealth funds, which is the basic logic of the rise of contemporary global sovereign wealth funds in emerging economies. So, it is reasonable to expect that, as the global economic disequilibrium is further deteriorating, the scale of sovereign wealth funds in emerging economies will continue to grow.