਀㰀䴀䔀吀䄀 渀愀洀攀㴀䜀䔀一䔀刀䄀吀伀刀 挀漀渀琀攀渀琀㴀∀䴀匀䠀吀䴀䰀 㠀⸀  ⸀㘀  ㄀⸀㄀㤀 ㄀㤀∀㸀㰀⼀䠀䔀䄀䐀㸀 ਀㰀倀㸀㰀䘀伀一吀 猀椀稀攀㴀㌀㸀㰀匀吀刀伀一䜀㸀䐀攀挀氀椀渀攀 愀渀搀 昀愀氀氀 漀昀 樀甀猀琀 愀戀漀甀琀 攀瘀攀爀礀漀渀攀㰀⼀匀吀刀伀一䜀㸀㰀⼀䘀伀一吀㸀 㰀䈀刀㸀䈀礀 倀攀瀀攀 䔀猀挀漀戀愀爀 㰀䈀刀㸀㰀⼀倀㸀

http://atimes.com/atimes/Global_Economy/MI27Dj01.html

਀㰀倀㸀㰀䈀刀㸀䴀漀爀攀 琀栀愀渀 ㄀  礀攀愀爀猀 愀最漀Ⰰ 戀攀昀漀爀攀 㤀⼀㄀㄀Ⰰ 䜀漀氀搀洀愀渀 匀愀挀栀猀 眀愀猀 瀀爀攀搀椀挀琀椀渀最 琀栀愀琀 琀栀攀 䈀刀䤀䌀 挀漀甀渀琀爀椀攀猀 ⠀䈀爀愀稀椀氀Ⰰ 刀甀猀猀椀愀Ⰰ 䤀渀搀椀愀Ⰰ 䌀栀椀渀愀⤀ 眀漀甀氀搀 洀愀欀攀 琀栀攀 眀漀爀氀搀 攀挀漀渀漀洀礀✀猀 琀漀瀀 ㄀  ⴀ 戀甀琀 渀漀琀 甀渀琀椀氀 ㈀ 㐀 ⸀ 匀欀椀瀀 愀 搀攀挀愀搀攀 愀渀搀 琀栀攀 䌀栀椀渀攀猀攀 攀挀漀渀漀洀礀 愀氀爀攀愀搀礀 栀愀猀 琀栀攀 渀甀洀戀攀爀 琀眀漀 猀瀀漀琀 愀氀氀 琀漀 椀琀猀攀氀昀Ⰰ 䈀爀愀稀椀氀 椀猀 渀甀洀戀攀爀 猀攀瘀攀渀Ⰰ 䤀渀搀椀愀 ㄀ Ⰰ 愀渀搀 攀瘀攀渀 刀甀猀猀椀愀 椀猀 挀爀攀攀瀀椀渀最 挀氀漀猀攀爀⸀ 䤀渀 瀀甀爀挀栀愀猀椀渀最 瀀漀眀攀爀 瀀愀爀椀琀礀Ⰰ 漀爀 倀倀倀Ⰰ 琀栀椀渀最猀 氀漀漀欀 攀瘀攀渀 戀攀琀琀攀爀⸀ 吀栀攀爀攀Ⰰ 䌀栀椀渀愀 椀猀 椀渀 猀攀挀漀渀搀 瀀氀愀挀攀Ⰰ 䤀渀搀椀愀 椀猀 渀漀眀 昀漀甀爀琀栀Ⰰ 刀甀猀猀椀愀 猀椀砀琀栀Ⰰ 愀渀搀 䈀爀愀稀椀氀 猀攀瘀攀渀琀栀⸀ 㰀䈀刀㸀㰀䈀刀㸀一漀 眀漀渀搀攀爀 䨀椀洀 伀✀一攀椀氀氀Ⰰ 眀栀漀 挀漀椀渀攀搀 琀栀攀 渀攀漀氀漀最椀猀洀 䈀刀䤀䌀 愀渀搀 椀猀 渀漀眀 挀栀愀椀爀洀愀渀 漀昀 䜀漀氀搀洀愀渀 匀愀挀栀猀 䄀猀猀攀琀 䴀愀渀愀最攀洀攀渀琀Ⰰ 栀愀猀 戀攀攀渀 猀琀爀攀猀猀椀渀最 琀栀愀琀 ∀琀栀攀 眀漀爀氀搀 椀猀 渀漀 氀漀渀最攀爀 搀攀瀀攀渀搀攀渀琀 漀渀 琀栀攀 氀攀愀搀攀爀猀栀椀瀀 漀昀 琀栀攀 唀匀 愀渀搀 䔀甀爀漀瀀攀∀⸀ 䄀昀琀攀爀 愀氀氀Ⰰ 猀椀渀挀攀 ㈀  㜀Ⰰ 䌀栀椀渀愀✀猀 攀挀漀渀漀洀礀 栀愀猀 最爀漀眀渀 戀礀 㐀㔀─Ⰰ 琀栀攀 䄀洀攀爀椀挀愀渀 攀挀漀渀漀洀礀 戀礀 氀攀猀猀 琀栀愀渀 ㄀─ ⴀ 昀椀最甀爀攀猀 猀琀愀爀琀氀椀渀最 攀渀漀甀最栀 琀漀 洀愀欀攀 愀渀礀漀渀攀 琀愀欀攀 戀愀挀欀 琀栀攀椀爀 瀀爀攀搀椀挀琀椀漀渀猀⸀ 㰀䈀刀㸀㰀䈀刀㸀䄀洀攀爀椀挀愀渀 愀渀砀椀攀琀礀 愀渀搀 瀀甀稀稀氀攀洀攀渀琀 爀攀愀挀栀攀搀 渀攀眀 栀攀椀最栀琀猀 眀栀攀渀 琀栀攀 氀愀琀攀猀琀 䤀渀琀攀爀渀愀琀椀漀渀愀氀 䴀漀渀攀琀愀爀礀 䘀甀渀搀 ⠀䤀䴀䘀⤀ 瀀爀漀樀攀挀琀椀漀渀猀 椀渀搀椀挀愀琀攀搀 琀栀愀琀Ⰰ 愀琀 氀攀愀猀琀 戀礀 挀攀爀琀愀椀渀 洀攀愀猀甀爀攀洀攀渀琀猀Ⰰ 琀栀攀 䌀栀椀渀攀猀攀 攀挀漀渀漀洀礀 眀漀甀氀搀 漀瘀攀爀琀愀欀攀 琀栀攀 唀匀 戀礀 ㈀ ㄀㘀⸀ ⠀唀渀琀椀氀 爀攀挀攀渀琀氀礀Ⰰ 䜀漀氀搀洀愀渀 匀愀挀栀猀 眀愀猀 瀀漀椀渀琀椀渀最 琀漀眀愀爀搀猀 ㈀ 㔀  昀漀爀 琀栀愀琀 昀椀爀猀琀ⴀ瀀氀愀挀攀 攀砀挀栀愀渀最攀⸀⤀ 㰀䈀刀㸀㰀䈀刀㸀圀椀琀栀椀渀 琀栀攀 渀攀砀琀 ㌀  礀攀愀爀猀Ⰰ 琀栀攀 琀漀瀀 昀椀瘀攀 眀椀氀氀Ⰰ 愀挀挀漀爀搀椀渀最 琀漀 䜀漀氀搀洀愀渀 匀愀挀栀猀Ⰰ 氀椀欀攀氀礀 戀攀 䌀栀椀渀愀Ⰰ 琀栀攀 唀匀Ⰰ 䤀渀搀椀愀Ⰰ 䈀爀愀稀椀氀 愀渀搀 䴀攀砀椀挀漀⸀ 圀攀猀琀攀爀渀 䔀甀爀漀瀀攀㼀 䈀礀攀ⴀ戀礀攀℀ 㰀䈀刀㸀㰀䈀刀㸀㰀䈀㸀䄀 猀礀猀琀攀洀 猀琀爀椀瀀瀀攀搀 琀漀 椀琀猀 攀猀猀攀渀挀攀㰀⼀䈀㸀㰀䈀刀㸀䤀渀挀爀攀愀猀椀渀最 渀甀洀戀攀爀猀 漀昀 攀砀瀀攀爀琀猀 愀最爀攀攀 琀栀愀琀 䄀猀椀愀 椀猀 渀漀眀 氀攀愀搀椀渀最 琀栀攀 眀愀礀 昀漀爀 琀栀攀 眀漀爀氀搀Ⰰ 攀瘀攀渀 愀猀 椀琀 氀愀礀猀 戀愀爀攀 最氀愀爀椀渀最 最愀瀀猀 椀渀 琀栀攀 圀攀猀琀✀猀 渀愀爀爀愀琀椀瘀攀 漀昀 挀椀瘀椀氀椀稀愀琀椀漀渀⸀ 夀攀琀 琀漀 琀愀氀欀 愀戀漀甀琀 ∀琀栀攀 搀攀挀氀椀渀攀 漀昀 琀栀攀 圀攀猀琀∀ 椀猀 愀 搀愀渀最攀爀漀甀猀 瀀爀漀瀀漀猀椀琀椀漀渀⸀ 䄀 欀攀礀 栀椀猀琀漀爀椀挀愀氀 爀攀昀攀爀攀渀挀攀 椀猀 伀猀眀愀氀搀 匀瀀攀渀最氀攀爀✀猀 ㄀㤀㄀㠀 攀猀猀愀礀 眀椀琀栀 琀栀愀琀 琀椀琀氀攀⸀ 匀瀀攀渀最氀攀爀Ⰰ 愀 洀愀渀 漀昀 栀椀猀 琀椀洀攀猀Ⰰ 琀栀漀甀最栀琀 琀栀愀琀 栀甀洀愀渀椀琀礀 昀甀渀挀琀椀漀渀攀搀 琀栀爀漀甀最栀 甀渀椀焀甀攀 挀甀氀琀甀爀愀氀 猀礀猀琀攀洀猀Ⰰ 愀渀搀 琀栀愀琀 圀攀猀琀攀爀渀 椀搀攀愀猀 眀漀甀氀搀 渀漀琀 戀攀 瀀攀爀琀椀渀攀渀琀 昀漀爀Ⰰ 漀爀 琀爀愀渀猀昀攀爀愀戀氀攀 琀漀Ⰰ 漀琀栀攀爀 爀攀最椀漀渀猀 漀昀 琀栀攀 瀀氀愀渀攀琀⸀ ⠀吀攀氀氀 琀栀愀琀 栀漀眀氀攀爀 琀漀 琀栀攀 礀漀甀渀最 䔀最礀瀀琀椀愀渀猀 椀渀 吀愀栀爀椀爀 匀焀甀愀爀攀⸀⤀ 㰀䈀刀㸀㰀䈀刀㸀匀瀀攀渀最氀攀爀 挀愀瀀琀甀爀攀搀 琀栀攀 圀攀猀琀攀爀渀ⴀ搀漀洀椀渀愀琀攀搀 稀攀椀琀最攀椀猀琀 漀昀 愀渀漀琀栀攀爀 挀攀渀琀甀爀礀⸀ 䠀攀 猀愀眀 挀甀氀琀甀爀攀猀 愀猀 氀椀瘀椀渀最 愀渀搀 搀礀椀渀最 漀爀最愀渀椀猀洀猀Ⰰ 攀愀挀栀 眀椀琀栀 愀 甀渀椀焀甀攀 猀漀甀氀⸀ 吀栀攀 䔀愀猀琀 漀爀 伀爀椀攀渀琀 眀愀猀 ∀洀愀最椀挀愀氀∀Ⰰ 眀栀椀氀攀 琀栀攀 圀攀猀琀 眀愀猀 ∀䘀愀甀猀琀椀愀渀∀⸀ 䄀 爀攀愀挀琀椀漀渀愀爀礀 洀椀猀愀渀琀栀爀漀瀀攀Ⰰ 栀攀 眀愀猀 挀漀渀瘀椀渀挀攀搀 琀栀愀琀 琀栀攀 圀攀猀琀 栀愀搀 愀氀爀攀愀搀礀 爀攀愀挀栀攀搀 琀栀攀 猀甀瀀爀攀洀攀 猀琀愀琀甀猀 愀瘀愀椀氀愀戀氀攀 琀漀 愀 搀攀洀漀挀爀愀琀椀挀 挀椀瘀椀氀椀稀愀琀椀漀渀 ⴀ 愀渀搀 猀漀 眀愀猀 搀攀猀琀椀渀攀搀 琀漀 攀砀瀀攀爀椀攀渀挀攀 琀栀攀 ∀搀攀挀氀椀渀攀∀ 漀昀 栀椀猀 琀椀琀氀攀⸀ 㰀䈀刀㸀㰀䈀刀㸀䤀昀 礀漀甀✀爀攀 琀栀椀渀欀椀渀最 琀栀愀琀 琀栀椀猀 猀漀甀渀搀猀 氀椀欀攀 愀渀 㰀䤀㸀愀瘀愀渀琀ⴀ氀愀ⴀ氀攀琀琀爀攀㰀⼀䤀㸀 䠀甀渀琀椀渀最琀漀渀攀猀焀甀攀 ∀挀氀愀猀栀 漀昀 挀椀瘀椀氀椀稀愀琀椀漀渀猀∀Ⰰ 礀漀甀 挀愀渀 戀攀 攀砀挀甀猀攀搀Ⰰ 戀攀挀愀甀猀攀 琀栀愀琀✀猀 攀砀愀挀琀氀礀 眀栀愀琀 椀琀 眀愀猀⸀ 㰀䈀刀㸀㰀䈀刀㸀匀瀀攀愀欀椀渀最 漀昀 挀椀瘀椀氀椀稀愀琀椀漀渀愀氀 挀氀愀猀栀攀猀Ⰰ 搀椀搀 愀渀礀漀渀攀 渀漀琀椀挀攀 琀栀愀琀 ∀洀愀礀戀攀∀ 椀渀 愀 爀攀挀攀渀琀 吀椀洀攀 挀漀瘀攀爀 猀琀漀爀礀 瀀椀挀欀椀渀最 甀瀀 漀渀 匀瀀攀渀最氀攀爀椀愀渀 琀栀攀洀攀猀 愀渀搀 栀攀愀搀氀椀渀攀搀 ∀吀栀攀 䐀攀挀氀椀渀攀 愀渀搀 䘀愀氀氀 漀昀 䔀甀爀漀瀀攀 ⠀愀渀搀 䴀愀礀戀攀 琀栀攀 圀攀猀琀⤀∀㼀 䤀渀 漀甀爀 瀀漀猀琀ⴀ匀瀀攀渀最氀攀爀椀愀渀 洀漀洀攀渀琀Ⰰ 琀栀攀 ∀圀攀猀琀∀ 椀猀 猀甀爀攀氀礀 琀栀攀 唀渀椀琀攀搀 匀琀愀琀攀猀Ⰰ 愀渀搀 栀漀眀 挀漀甀氀搀 琀栀愀琀 洀愀最愀稀椀渀攀 最攀琀 椀琀 猀漀 眀爀漀渀最㼀 䴀愀礀戀攀㼀 㰀䈀刀㸀㰀䈀刀㸀䄀昀琀攀爀 愀氀氀Ⰰ 愀 䔀甀爀漀瀀攀 渀漀眀 椀渀 搀攀攀瀀 昀椀渀愀渀挀椀愀氀 挀爀椀猀椀猀 眀椀氀氀 戀攀 ∀椀渀 搀攀挀氀椀渀攀∀ 愀猀 氀漀渀最 愀猀 椀琀 爀攀洀愀椀渀猀 椀渀攀砀琀爀椀挀愀戀氀礀 椀渀琀攀爀琀眀椀渀攀搀 眀椀琀栀 愀渀搀 挀漀渀琀椀渀甀攀猀 琀漀 搀攀昀攀爀 琀漀 ∀琀栀攀 圀攀猀琀∀ ⴀ 琀栀愀琀 椀猀Ⰰ 圀愀猀栀椀渀最琀漀渀 ⴀ 攀瘀攀渀 愀猀 椀琀 眀椀琀渀攀猀猀攀猀 琀栀攀 猀椀洀甀氀琀愀渀攀漀甀猀 攀挀漀渀漀洀椀挀 愀猀挀攀渀琀 漀昀 眀栀愀琀✀猀 猀漀洀攀琀椀洀攀猀 搀攀爀椀猀椀瘀攀氀礀 爀攀昀攀爀爀攀搀 琀漀 愀猀 ∀琀栀攀 匀漀甀琀栀⸀∀ 㰀䈀刀㸀㰀䈀刀㸀吀栀椀渀欀 漀昀 琀栀攀 瀀爀攀猀攀渀琀 最氀漀戀愀氀 挀愀瀀椀琀愀氀椀猀琀 洀漀洀攀渀琀 渀漀琀 愀猀 愀 ∀挀氀愀猀栀∀Ⰰ 戀甀琀 愀 ∀挀愀猀栀 漀昀 挀椀瘀椀氀椀稀愀琀椀漀渀猀∀⸀ 㰀䈀刀㸀㰀䈀刀㸀䤀昀 圀愀猀栀椀渀最琀漀渀 椀猀 渀漀眀 猀琀甀渀渀攀搀 愀渀搀 漀瀀攀爀愀琀椀渀最 漀渀 愀甀琀漀瀀椀氀漀琀Ⰰ 琀栀愀琀✀猀 椀渀 瀀愀爀琀 戀攀挀愀甀猀攀Ⰰ 栀椀猀琀漀爀椀挀愀氀氀礀 猀瀀攀愀欀椀渀最Ⰰ 椀琀猀 洀漀洀攀渀琀 愀猀 琀栀攀 最氀漀戀攀✀猀 ∀猀漀氀攀 猀甀瀀攀爀瀀漀眀攀爀∀ 漀爀 攀瘀攀渀 ∀栀礀瀀攀爀瀀漀眀攀爀∀ 戀愀爀攀氀礀 漀甀琀氀愀猀琀攀搀 䄀渀搀礀 圀愀爀栀漀氀✀猀 渀漀琀漀爀椀漀甀猀 ㄀㔀 洀椀渀甀琀攀猀 漀昀 昀愀洀攀 ⴀ 昀爀漀洀 琀栀攀 昀愀氀氀 漀昀 琀栀攀 䈀攀爀氀椀渀 圀愀氀氀 愀渀搀 挀漀氀氀愀瀀猀攀 漀昀 琀栀攀 匀漀瘀椀攀琀 唀渀椀漀渀 琀漀 㤀⼀㄀㄀ 愀渀搀 䜀攀漀爀最攀 圀 䈀甀猀栀✀猀 搀漀挀琀爀椀渀攀⸀ 吀栀攀 渀攀眀 䄀洀攀爀椀挀愀渀 挀攀渀琀甀爀礀 眀愀猀 猀眀椀昀琀氀礀 琀栀爀漀琀琀氀攀搀 椀渀 琀栀爀攀攀 栀甀戀爀椀猀ⴀ昀椀氀氀攀搀 猀琀愀最攀猀㨀 㤀⼀㄀㄀ ⠀戀氀漀眀戀愀挀欀⤀㬀 琀栀攀 椀渀瘀愀猀椀漀渀 漀昀 䤀爀愀焀 ⠀瀀爀攀攀洀瀀琀椀瘀攀 眀愀爀⤀㬀 愀渀搀 琀栀攀 ㈀  㠀 圀愀氀氀 匀琀爀攀攀琀 洀攀氀琀搀漀眀渀 ⠀挀愀猀椀渀漀 挀愀瀀椀琀愀氀椀猀洀⤀⸀ 㰀䈀刀㸀㰀䈀刀㸀䴀攀愀渀眀栀椀氀攀Ⰰ 漀渀攀 洀愀礀 愀爀最甀攀 琀栀愀琀 䔀甀爀漀瀀攀 猀琀椀氀氀 栀愀猀 椀琀猀 渀漀渀ⴀ圀攀猀琀攀爀渀 漀瀀瀀漀爀琀甀渀椀琀椀攀猀Ⰰ 琀栀愀琀Ⰰ 椀渀 昀愀挀琀Ⰰ 琀栀攀 瀀攀爀椀瀀栀攀爀礀 椀渀挀爀攀愀猀椀渀最氀礀 搀爀攀愀洀猀 眀椀琀栀 䔀甀爀漀瀀攀愀渀 ⴀ 渀漀琀 䄀洀攀爀椀挀愀渀 ⴀ 猀甀戀琀椀琀氀攀猀⸀ 吀栀攀 䄀爀愀戀 匀瀀爀椀渀最Ⰰ 昀漀爀 椀渀猀琀愀渀挀攀Ⰰ 眀愀猀 昀漀挀甀猀攀搀 漀渀 䔀甀爀漀瀀攀愀渀ⴀ猀琀礀氀攀 瀀愀爀氀椀愀洀攀渀琀愀爀礀 搀攀洀漀挀爀愀挀椀攀猀Ⰰ 渀漀琀 愀渀 䄀洀攀爀椀挀愀渀 瀀爀攀猀椀搀攀渀琀椀愀氀 猀礀猀琀攀洀⸀ 䤀渀 愀搀搀椀琀椀漀渀Ⰰ 栀漀眀攀瘀攀爀 昀椀渀愀渀挀椀愀氀氀礀 愀渀砀椀漀甀猀 椀琀 洀愀礀 戀攀Ⰰ 䔀甀爀漀瀀攀 爀攀洀愀椀渀猀 琀栀攀 眀漀爀氀搀✀猀 氀愀爀最攀猀琀 洀愀爀欀攀琀⸀ 䤀渀 愀渀 愀爀爀愀礀 漀昀 琀攀挀栀渀漀氀漀最椀挀愀氀 昀椀攀氀搀猀Ⰰ 椀琀 渀漀眀 爀椀瘀愀氀猀 漀爀 漀甀琀瀀愀挀攀猀 琀栀攀 唀匀Ⰰ 眀栀椀氀攀 爀攀最爀攀猀猀椀瘀攀 倀攀爀猀椀愀渀 䜀甀氀昀 洀漀渀愀爀挀栀椀攀猀 猀瀀氀甀爀最攀 漀渀 攀甀爀漀猀 ⠀愀渀搀 瀀爀椀洀攀 爀攀愀氀 攀猀琀愀琀攀 椀渀 倀愀爀椀猀 愀渀搀 䰀漀渀搀漀渀⤀ 琀漀 搀椀瘀攀爀猀椀昀礀 琀栀攀椀爀 瀀漀爀琀昀漀氀椀漀猀⸀ 㰀䈀刀㸀㰀䈀刀㸀夀攀琀Ⰰ 眀椀琀栀 ∀氀攀愀搀攀爀猀∀ 氀椀欀攀 琀栀攀 渀攀漀ⴀ一愀瀀漀氀攀漀渀椀挀 倀爀攀猀椀搀攀渀琀 一椀挀漀氀愀猀 匀愀爀欀漀稀礀Ⰰ 倀爀椀洀攀 䴀椀渀椀猀琀攀爀 䐀愀瘀椀搀 ⠀漀昀 䄀爀愀戀椀愀⤀ 䌀愀洀攀爀漀渀Ⰰ 倀爀攀洀椀攀爀 匀椀氀瘀椀漀 ⠀∀戀甀渀最愀 戀甀渀最愀∀⤀ 䈀攀爀氀甀猀挀漀渀椀Ⰰ 愀渀搀 䌀栀愀渀挀攀氀氀漀爀 䄀渀最攀氀愀 ⠀∀䐀攀愀爀 倀爀甀搀攀渀挀攀∀⤀ 䴀攀爀欀攀氀 氀愀爀最攀氀礀 氀愀挀欀椀渀最 椀洀愀最椀渀愀琀椀漀渀 漀爀 猀琀爀椀欀椀渀最 挀漀洀瀀攀琀攀渀挀攀Ⰰ 䔀甀爀漀瀀攀 挀攀爀琀愀椀渀氀礀 搀漀攀猀渀✀琀 渀攀攀搀 攀渀攀洀椀攀猀⸀ 㰀䈀刀㸀㰀䈀刀㸀䐀攀挀氀椀渀攀 漀爀 渀漀琀Ⰰ 椀琀 洀椀最栀琀 昀椀渀搀 愀 眀栀漀氀攀 渀攀眀 氀攀愀猀攀 漀渀 氀椀昀攀 戀礀 猀椀搀攀氀椀渀椀渀最 椀琀猀 䄀琀氀愀渀琀椀挀椀猀洀 愀渀搀 戀漀氀搀氀礀 戀攀琀琀椀渀最 漀渀 椀琀猀 䔀甀爀漀ⴀ䄀猀椀愀渀 搀攀猀琀椀渀礀⸀ 䤀琀 挀漀甀氀搀 漀瀀攀渀 甀瀀 椀琀猀 猀漀挀椀攀琀椀攀猀Ⰰ 攀挀漀渀漀洀椀攀猀Ⰰ 愀渀搀 挀甀氀琀甀爀攀猀 琀漀 䌀栀椀渀愀Ⰰ 䤀渀搀椀愀Ⰰ 愀渀搀 刀甀猀猀椀愀Ⰰ 眀栀椀氀攀 瀀甀猀栀椀渀最 猀漀甀琀栀攀爀渀 䔀甀爀漀瀀攀 琀漀 挀漀渀渀攀挀琀 昀愀爀 洀漀爀攀 搀攀攀瀀氀礀 眀椀琀栀 愀 爀椀猀椀渀最 吀甀爀欀攀礀Ⰰ 琀栀攀 爀攀猀琀 漀昀 琀栀攀 䴀椀搀搀氀攀 䔀愀猀琀Ⰰ 䰀愀琀椀渀 䄀洀攀爀椀挀愀Ⰰ 愀渀搀 䄀昀爀椀挀愀 ⠀愀渀搀 渀漀琀 瘀椀愀 昀甀爀琀栀攀爀 一漀爀琀栀 䄀琀氀愀渀琀椀挀 吀爀攀愀琀礀 伀爀最愀渀椀稀愀琀椀漀渀 ⠀一䄀吀伀⤀ ∀栀甀洀愀渀椀琀愀爀椀愀渀∀ 戀漀洀戀椀渀最猀 攀椀琀栀攀爀⤀⸀ 㰀䈀刀㸀㰀䈀刀㸀伀琀栀攀爀眀椀猀攀Ⰰ 琀栀攀 昀愀挀琀猀 漀渀 琀栀攀 最爀漀甀渀搀 猀瀀攀氀氀 漀甀琀 猀漀洀攀琀栀椀渀最 琀栀愀琀 最漀攀猀 眀攀氀氀 戀攀礀漀渀搀 琀栀攀 搀攀挀氀椀渀攀 漀昀 琀栀攀 圀攀猀琀㨀 椀琀✀猀 琀栀攀 搀攀挀氀椀渀攀 漀昀 愀 猀礀猀琀攀洀 椀渀 琀栀攀 圀攀猀琀 琀栀愀琀Ⰰ 椀渀 琀栀攀猀攀 氀愀猀琀 礀攀愀爀猀Ⰰ 椀猀 戀攀椀渀最 猀琀爀椀瀀瀀攀搀 琀漀 椀琀猀 最爀椀洀 攀猀猀攀渀挀攀⸀ 䠀椀猀琀漀爀椀愀渀 䔀爀椀挀 䠀漀戀猀戀愀眀洀 挀愀甀最栀琀 琀栀攀 洀漀漀搀 漀昀 琀栀攀 洀漀洀攀渀琀 眀栀攀渀 栀攀 眀爀漀琀攀 椀渀 栀椀猀 戀漀漀欀 㰀䤀㸀䠀漀眀 琀漀 䌀栀愀渀最攀 琀栀攀 圀漀爀氀搀㰀⼀䤀㸀 琀栀愀琀 ∀琀栀攀 眀漀爀氀搀 琀爀愀渀猀昀漀爀洀攀搀 戀礀 挀愀瀀椀琀愀氀椀猀洀∀Ⰰ 眀栀椀挀栀 䬀愀爀氀 䴀愀爀砀 搀攀猀挀爀椀戀攀搀 椀渀 ㄀㠀㐀㠀 ∀椀渀 瀀愀猀猀愀最攀猀 漀昀 搀愀爀欀Ⰰ 氀愀挀漀渀椀挀 攀氀漀焀甀攀渀挀攀 椀猀 爀攀挀漀最渀椀稀愀戀氀礀 琀栀攀 眀漀爀氀搀 漀昀 琀栀攀 攀愀爀氀礀 琀眀攀渀琀礀ⴀ昀椀爀猀琀 挀攀渀琀甀爀礀∀⸀ 㰀䈀刀㸀㰀䈀刀㸀䤀渀 愀 氀愀渀搀猀挀愀瀀攀 椀渀 眀栀椀挀栀 瀀漀氀椀琀椀挀猀 椀猀 戀攀椀渀最 爀攀搀甀挀攀搀 琀漀 愀 ⠀戀爀漀欀攀渀⤀ 洀椀爀爀漀爀 爀攀昀氀攀挀琀椀渀最 昀椀渀愀渀挀攀Ⰰ 愀渀搀 椀渀 眀栀椀挀栀 瀀爀漀搀甀挀椀渀最 愀渀搀 猀愀瘀椀渀最 栀愀瘀攀 戀攀攀渀 猀甀瀀攀爀猀攀搀攀搀 戀礀 挀漀渀猀甀洀椀渀最Ⰰ 猀漀洀攀琀栀椀渀最 猀礀猀琀攀洀椀挀 挀漀洀攀猀 椀渀琀漀 瘀椀攀眀⸀ 䄀猀 椀渀 琀栀攀 昀愀洀漀甀猀 氀椀渀攀 漀昀 瀀漀攀琀 圀椀氀氀椀愀洀 䈀甀琀氀攀爀 夀攀愀琀猀Ⰰ ∀琀栀攀 挀攀渀琀爀攀 挀愀渀渀漀琀 栀漀氀搀∀ ⴀ 愀渀搀 椀琀 眀漀渀✀琀 攀椀琀栀攀爀⸀ 㰀䈀刀㸀㰀䈀刀㸀䤀昀 琀栀攀 圀攀猀琀 挀攀愀猀攀猀 琀漀 戀攀 琀栀攀 挀攀渀琀攀爀Ⰰ 眀栀愀琀 攀砀愀挀琀氀礀 眀攀渀琀 眀爀漀渀最㼀 㰀䈀刀㸀㰀䈀刀㸀㰀䈀㸀䄀爀攀 礀漀甀 眀椀琀栀 洀攀 漀爀 愀最愀椀渀猀琀 洀攀㼀㰀⼀䈀㸀㰀䈀刀㸀䤀琀✀猀 眀漀爀琀栀 爀攀洀攀洀戀攀爀椀渀最 琀栀愀琀 挀愀瀀椀琀愀氀椀猀洀 眀愀猀 ∀挀椀瘀椀氀椀稀攀搀∀ 琀栀愀渀欀猀 琀漀 琀栀攀 甀渀爀攀氀攀渀琀椀渀最 瀀爀攀猀猀甀爀攀 漀昀 最爀椀琀琀礀 眀漀爀欀椀渀最ⴀ挀氀愀猀猀 洀漀瘀攀洀攀渀琀猀 愀渀搀 琀栀攀 攀瘀攀爀ⴀ瀀爀攀猀攀渀琀 琀栀爀攀愀琀 漀昀 猀琀爀椀欀攀猀 愀渀搀 攀瘀攀渀 爀攀瘀漀氀甀琀椀漀渀猀⸀ 吀栀攀 攀砀椀猀琀攀渀挀攀 漀昀 琀栀攀 匀漀瘀椀攀琀 戀氀漀挀Ⰰ 愀渀 愀氀琀攀爀渀愀琀攀 洀漀搀攀氀 漀昀 攀挀漀渀漀洀椀挀 搀攀瘀攀氀漀瀀洀攀渀琀 ⠀栀漀眀攀瘀攀爀 眀愀爀瀀攀搀⤀Ⰰ 愀氀猀漀 栀攀氀瀀攀搀⸀ 㰀䈀刀㸀㰀䈀刀㸀吀漀 挀漀甀渀琀攀爀愀挀琀 琀栀攀 唀匀匀刀Ⰰ 圀愀猀栀椀渀最琀漀渀✀猀 愀渀搀 䔀甀爀漀瀀攀✀猀 爀甀氀椀渀最 最爀漀甀瀀猀 栀愀搀 琀漀 戀甀礀 琀栀攀 猀甀瀀瀀漀爀琀 漀昀 琀栀攀椀爀 洀愀猀猀攀猀 椀渀 搀攀昀攀渀搀椀渀最 眀栀愀琀 渀漀 漀渀攀 戀氀甀猀栀攀搀 愀戀漀甀琀 挀愀氀氀椀渀最 ∀琀栀攀 圀攀猀琀攀爀渀 眀愀礀 漀昀 氀椀昀攀∀⸀ 䄀 挀漀洀瀀氀攀砀 猀漀挀椀愀氀 挀漀渀琀爀愀挀琀 眀愀猀 昀漀爀最攀搀Ⰰ 愀渀搀 椀琀 椀渀瘀漀氀瘀攀搀 挀愀瀀椀琀愀氀 洀愀欀椀渀最 挀漀渀挀攀猀猀椀漀渀猀⸀ 㰀䈀刀㸀㰀䈀刀㸀一漀 洀漀爀攀⸀ 一漀琀 椀渀 圀愀猀栀椀渀最琀漀渀Ⰰ 琀栀愀琀✀猀 漀戀瘀椀漀甀猀⸀ 䄀渀搀 椀渀挀爀攀愀猀椀渀最氀礀Ⰰ 渀漀琀 椀渀 䔀甀爀漀瀀攀 攀椀琀栀攀爀⸀ 吀栀愀琀 猀礀猀琀攀洀 猀琀愀爀琀攀搀 戀爀攀愀欀椀渀最 搀漀眀渀 愀猀 猀漀漀渀 愀猀 ⴀ 琀愀氀欀 愀戀漀甀琀 琀漀琀愀氀 椀搀攀漀氀漀最椀挀愀氀 琀爀椀甀洀瀀栀℀ ⴀ 渀攀漀ⴀ氀椀戀攀爀愀氀椀猀洀 戀攀挀愀洀攀 琀栀攀 漀渀氀礀 猀栀漀眀 椀渀 琀漀眀渀⸀ 吀栀攀爀攀 眀愀猀 愀 猀椀渀最氀攀 猀甀瀀攀爀栀椀最栀眀愀礀 昀爀漀洀 琀栀攀爀攀 愀渀搀 椀琀 猀眀攀瀀琀 琀栀攀 洀漀猀琀 昀爀愀最椀氀攀 猀琀爀愀渀搀猀 漀昀 琀栀攀 洀椀搀搀氀攀 挀氀愀猀猀 搀椀爀攀挀琀氀礀 椀渀琀漀 愀 渀攀眀 瀀漀猀琀ⴀ椀渀搀甀猀琀爀椀愀氀 瀀爀漀氀攀琀愀爀椀愀琀Ⰰ 漀爀 猀椀洀瀀氀礀 椀渀琀漀 甀渀攀洀瀀氀漀礀愀戀氀攀 猀琀愀琀甀猀⸀ 㰀䈀刀㸀㰀䈀刀㸀䤀昀 渀攀漀ⴀ氀椀戀攀爀愀氀椀猀洀 椀猀 琀栀攀 瘀椀挀琀漀爀 昀漀爀 渀漀眀Ⰰ 椀琀✀猀 戀攀挀愀甀猀攀 渀漀 爀攀愀氀椀猀琀Ⰰ 愀氀琀攀爀渀愀琀椀瘀攀 搀攀瘀攀氀漀瀀洀攀渀琀愀氀 洀漀搀攀氀 攀砀椀猀琀猀Ⰰ 愀渀搀 礀攀琀 眀栀愀琀 椀琀 栀愀猀 眀漀渀 椀猀 攀瘀攀爀 洀漀爀攀 椀渀 焀甀攀猀琀椀漀渀⸀ 䴀攀愀渀眀栀椀氀攀Ⰰ 攀砀挀攀瀀琀 椀渀 琀栀攀 䴀椀搀搀氀攀 䔀愀猀琀Ⰰ 瀀爀漀最爀攀猀猀椀瘀攀猀 琀栀攀 眀漀爀氀搀 漀瘀攀爀 愀爀攀 瀀愀爀愀氀礀稀攀搀Ⰰ 愀猀 椀昀 攀砀瀀攀挀琀椀渀最 琀栀攀 漀氀搀 漀爀搀攀爀 琀漀 搀椀猀猀漀氀瘀攀 戀礀 椀琀猀攀氀昀⸀ 唀渀昀漀爀琀甀渀愀琀攀氀礀Ⰰ 栀椀猀琀漀爀礀 琀攀愀挀栀攀猀 甀猀 琀栀愀琀Ⰰ 愀琀 猀椀洀椀氀愀爀 挀爀漀猀猀爀漀愀搀猀 椀渀 琀栀攀 瀀愀猀琀Ⰰ 礀漀甀 愀爀攀 愀猀 氀椀欀攀氀礀 琀漀 昀椀渀搀 琀栀攀 最爀愀瀀攀猀 漀昀 眀爀愀琀栀Ⰰ 爀椀最栀琀ⴀ眀椀渀最 瀀漀瀀甀氀椀猀琀ⴀ猀琀礀氀攀Ⰰ 愀猀 愀渀礀琀栀椀渀最 攀氀猀攀 ⴀ 漀爀 眀漀爀猀攀 礀攀琀Ⰰ 漀甀琀爀椀最栀琀 昀愀猀挀椀猀洀⸀ 㰀䈀刀㸀㰀䈀刀㸀∀吀栀攀 圀攀猀琀 愀最愀椀渀猀琀 琀栀攀 爀攀猀琀∀ 椀猀 愀 猀椀洀瀀氀椀猀琀椀挀 昀漀爀洀甀氀愀 琀栀愀琀 搀漀攀猀渀✀琀 戀攀最椀渀 琀漀 搀攀猀挀爀椀戀攀 猀甀挀栀 愀 眀漀爀氀搀⸀ 䤀洀愀最椀渀攀 椀渀猀琀攀愀搀Ⰰ 愀 瀀氀愀渀攀琀 椀渀 眀栀椀挀栀 ∀琀栀攀 爀攀猀琀∀ 愀爀攀 琀爀礀椀渀最 琀漀 猀琀攀瀀 戀攀礀漀渀搀 琀栀攀 圀攀猀琀 椀渀 愀 瘀愀爀椀攀琀礀 漀昀 眀愀礀猀Ⰰ 戀甀琀 愀氀猀漀 栀愀瘀攀 愀戀猀漀爀戀攀搀 琀栀愀琀 圀攀猀琀 椀渀 眀愀礀猀 琀漀漀 搀攀攀瀀 琀漀 搀攀猀挀爀椀戀攀⸀ 䠀攀爀攀✀猀 琀栀攀 椀爀漀渀礀Ⰰ 琀栀攀渀㨀 礀攀猀Ⰰ 琀栀攀 圀攀猀琀 眀椀氀氀 ∀搀攀挀氀椀渀攀∀Ⰰ 圀愀猀栀椀渀最琀漀渀 椀渀挀氀甀搀攀搀Ⰰ 愀渀搀 猀琀椀氀氀 椀琀 眀椀氀氀 氀攀愀瘀攀 椀琀猀攀氀昀 戀攀栀椀渀搀 攀瘀攀爀礀眀栀攀爀攀⸀ 㰀䈀刀㸀㰀䈀刀㸀㰀䈀㸀匀漀爀爀礀Ⰰ 礀漀甀爀 洀漀搀攀氀 猀甀挀欀猀㰀⼀䈀㸀 㰀䈀刀㸀匀甀瀀瀀漀猀攀 礀漀甀✀爀攀 愀 搀攀瘀攀氀漀瀀椀渀最 挀漀甀渀琀爀礀Ⰰ 猀栀漀瀀瀀椀渀最 椀渀 琀栀攀 搀攀瘀攀氀漀瀀洀攀渀琀愀氀 猀甀瀀攀爀洀愀爀欀攀琀⸀ 夀漀甀 氀漀漀欀 愀琀 䌀栀椀渀愀 愀渀搀 琀栀椀渀欀 礀漀甀 猀攀攀 猀漀洀攀琀栀椀渀最 渀攀眀 ⴀ 愀 挀漀渀猀攀渀猀甀猀 洀漀搀攀氀 琀栀愀琀✀猀 琀甀爀渀椀渀最 漀渀 琀栀攀 氀椀最栀琀猀 攀瘀攀爀礀眀栀攀爀攀 ⴀ 漀爀 搀漀 礀漀甀㼀 䄀昀琀攀爀 愀氀氀Ⰰ 琀栀攀 䌀栀椀渀攀猀攀 瘀攀爀猀椀漀渀 漀昀 愀渀 攀挀漀渀漀洀椀挀 戀漀漀洀 眀椀琀栀 渀漀 瀀漀氀椀琀椀挀愀氀 昀爀攀攀搀漀洀 洀愀礀 渀漀琀 琀甀爀渀 漀甀琀 琀漀 戀攀 洀甀挀栀 漀昀 愀 洀漀搀攀氀 昀漀爀 漀琀栀攀爀 挀漀甀渀琀爀椀攀猀 琀漀 昀漀氀氀漀眀⸀ 㰀䈀刀㸀㰀䈀刀㸀䤀渀 洀愀渀礀 眀愀礀猀Ⰰ 椀琀 洀愀礀 戀攀 洀漀爀攀 氀椀欀攀 愀渀 椀渀愀瀀瀀氀椀挀愀戀氀攀 氀攀琀栀愀氀 愀爀琀椀昀愀挀琀Ⰰ 愀 挀氀甀猀琀攀爀 戀漀洀戀 洀愀搀攀 甀瀀 漀昀 猀栀愀爀搀猀 漀昀 琀栀攀 圀攀猀琀攀爀渀 挀漀渀挀攀瀀琀 漀昀 洀漀搀攀爀渀椀琀礀 洀愀爀爀椀攀搀 琀漀 愀 䰀攀渀椀渀椀猀琀ⴀ戀愀猀攀搀 昀漀爀洀甀氀愀 眀栀攀爀攀 愀 猀椀渀最氀攀 瀀愀爀琀礀 挀漀渀琀爀漀氀猀 瀀攀爀猀漀渀渀攀氀Ⰰ 瀀爀漀瀀愀最愀渀搀愀Ⰰ 愀渀搀 ⴀ 挀爀甀挀椀愀氀氀礀 ⴀ 琀栀攀 倀攀漀瀀氀攀✀猀 䰀椀戀攀爀愀琀椀漀渀 䄀爀洀礀⸀ 㰀䈀刀㸀㰀䈀刀㸀䄀琀 琀栀攀 猀愀洀攀 琀椀洀攀Ⰰ 琀栀椀猀 椀猀 愀 猀礀猀琀攀洀 攀瘀椀搀攀渀琀氀礀 琀爀礀椀渀最 琀漀 瀀爀漀瘀攀 琀栀愀琀Ⰰ 攀瘀攀渀 琀栀漀甀最栀 琀栀攀 圀攀猀琀 甀渀椀昀椀攀搀 琀栀攀 眀漀爀氀搀 ⴀ 昀爀漀洀 渀攀漀ⴀ挀漀氀漀渀椀愀氀椀猀洀 琀漀 最氀漀戀愀氀椀稀愀琀椀漀渀 ⴀ 琀栀愀琀 猀栀漀甀氀搀渀✀琀 椀洀瀀氀礀 椀琀✀猀 戀漀甀渀搀 琀漀 爀甀氀攀 昀漀爀攀瘀攀爀 椀渀 洀愀琀攀爀椀愀氀 漀爀 椀渀琀攀氀氀攀挀琀甀愀氀 琀攀爀洀猀⸀ 㰀䈀刀㸀㰀䈀刀㸀䘀漀爀 椀琀猀 瀀愀爀琀Ⰰ 䔀甀爀漀瀀攀 椀猀 栀愀眀欀椀渀最 愀 洀漀搀攀氀 漀昀 猀甀瀀爀愀ⴀ渀愀琀椀漀渀愀氀 椀渀琀攀最爀愀琀椀漀渀 愀猀 愀 洀攀愀渀猀 漀昀 猀漀氀瘀椀渀最 瀀爀漀戀氀攀洀猀 愀渀搀 挀漀渀昀氀椀挀琀猀 昀爀漀洀 琀栀攀 䴀椀搀搀氀攀 䔀愀猀琀 琀漀 䄀昀爀椀挀愀⸀ 䈀甀琀 愀渀礀 猀栀漀瀀瀀攀爀 挀愀渀 渀漀眀 猀攀攀 攀瘀椀搀攀渀挀攀 漀昀 愀 䔀甀爀漀瀀攀愀渀 唀渀椀漀渀 漀渀 琀栀攀 瘀攀爀最攀 漀昀 挀爀愀挀欀椀渀最 愀洀椀搀 渀漀渀ⴀ猀琀漀瀀 椀渀琀攀爀ⴀ䔀甀爀漀瀀攀愀渀 戀椀挀欀攀爀椀渀最 琀栀愀琀 椀渀挀氀甀搀攀猀 渀愀琀椀漀渀愀氀 爀攀瘀漀氀琀猀 愀最愀椀渀猀琀 琀栀攀 攀甀爀漀Ⰰ 搀椀猀挀漀渀琀攀渀琀 漀瘀攀爀 一䄀吀伀✀猀 爀漀氀攀 愀猀 愀 最氀漀戀愀氀 刀漀戀漀挀漀瀀Ⰰ 愀渀搀 愀 猀琀礀氀攀 漀昀 漀渀最漀椀渀最 䔀甀爀漀瀀攀愀渀 挀甀氀琀甀爀愀氀 愀爀爀漀最愀渀挀攀 琀栀愀琀 洀愀欀攀猀 椀琀 椀渀挀愀瀀愀戀氀攀 漀昀 爀攀挀漀最渀椀稀椀渀最Ⰰ 琀漀 琀愀欀攀 漀渀攀 攀砀愀洀瀀氀攀Ⰰ 眀栀礀 琀栀攀 䌀栀椀渀攀猀攀 洀漀搀攀氀 椀猀 猀漀 猀甀挀挀攀猀猀昀甀氀 椀渀 䄀昀爀椀挀愀⸀ 㰀䈀刀㸀㰀䈀刀㸀伀爀 氀攀琀✀猀 猀愀礀 漀甀爀 猀栀漀瀀瀀攀爀 氀漀漀欀猀 琀漀 琀栀攀 唀渀椀琀攀搀 匀琀愀琀攀猀Ⰰ 琀栀愀琀 挀漀甀渀琀爀礀 猀琀椀氀氀 戀攀椀渀最Ⰰ 愀昀琀攀爀 愀氀氀Ⰰ 琀栀攀 眀漀爀氀搀✀猀 渀甀洀戀攀爀 漀渀攀 攀挀漀渀漀洀礀Ⰰ 椀琀猀 搀漀氀氀愀爀 猀琀椀氀氀 琀栀攀 眀漀爀氀搀✀猀 爀攀猀攀爀瘀攀 挀甀爀爀攀渀挀礀Ⰰ 愀渀搀 椀琀猀 洀椀氀椀琀愀爀礀 猀琀椀氀氀 渀甀洀戀攀爀 漀渀攀 椀渀 搀攀猀琀爀甀挀琀椀瘀攀 瀀漀眀攀爀 愀渀搀 猀琀椀氀氀 最愀爀爀椀猀漀渀椀渀最 洀甀挀栀 漀昀 琀栀攀 最氀漀戀攀⸀ 㰀䈀刀㸀㰀䈀刀㸀吀栀愀琀 眀漀甀氀搀 椀渀搀攀攀搀 猀攀攀洀 椀洀瀀爀攀猀猀椀瘀攀Ⰰ 椀昀 椀琀 眀攀爀攀渀✀琀 昀漀爀 琀栀攀 昀愀挀琀 琀栀愀琀 圀愀猀栀椀渀最琀漀渀 椀猀 瘀椀猀椀戀氀礀 漀渀 琀栀攀 搀攀挀氀椀渀攀Ⰰ 漀猀挀椀氀氀愀琀椀渀最 眀椀氀搀氀礀 戀攀琀眀攀攀渀 愀 氀愀洀攀 瀀漀瀀甀氀椀猀洀 愀渀搀 愀 猀琀愀氀攀 漀爀琀栀漀搀漀砀礀Ⰰ 愀渀搀 猀栀椀氀氀椀渀最 昀漀爀 挀愀猀椀渀漀 挀愀瀀椀琀愀氀椀猀洀 漀渀 愀 猀椀搀攀 猀琀爀攀攀琀 椀渀 椀琀猀 猀瀀愀爀攀 琀椀洀攀⸀ 䤀琀✀猀 愀 最椀愀渀琀 瀀漀眀攀爀 攀渀瘀攀氀漀瀀攀搀 椀渀 瀀漀氀椀琀椀挀愀氀 愀渀搀 攀挀漀渀漀洀椀挀 瀀愀爀愀氀礀猀椀猀 昀漀爀 愀氀氀 琀栀攀 眀漀爀氀搀 琀漀 猀攀攀Ⰰ 愀渀搀 渀漀 氀攀猀猀 瘀椀猀椀戀氀礀 椀渀挀愀瀀愀戀氀攀 漀昀 挀漀洀椀渀最 甀瀀 眀椀琀栀 愀渀 攀砀椀琀 猀琀爀愀琀攀最礀⸀ 㰀䈀刀㸀㰀䈀刀㸀刀攀愀氀氀礀Ⰰ 眀漀甀氀搀 礀漀甀 戀甀礀 愀 洀漀搀攀氀 昀爀漀洀 愀渀礀 漀昀 琀栀攀洀㼀 䤀渀 昀愀挀琀Ⰰ 眀栀攀爀攀 椀渀 愀 眀漀爀氀搀 椀渀 攀猀挀愀氀愀琀椀渀最 搀椀猀愀爀爀愀礀 椀猀 愀渀礀漀渀攀 猀甀瀀瀀漀猀攀搀 琀漀 氀漀漀欀 琀栀攀猀攀 搀愀礀猀 眀栀攀渀 椀琀 挀漀洀攀猀 琀漀 洀漀搀攀氀猀㼀☀渀戀猀瀀㬀㰀⼀倀㸀


One of the key reasons for the Arab Spring was out-of-control food prices, driven significantly by speculation. Protests and riots in Greece, Italy, Spain, France, Germany, Austria and Turkey were direct consequences of the global recession. In Spain, nearly half of 16- to 29-year-olds - an overeducated "lost generation" - are now out of jobs, a European record.

That may be the worst in Europe, but in Britain, 20% of 16- to 24-year-olds are unemployed, about average for the rest of the European Union. In London, almost 25% of working-age people are unemployed. In France, 13.5% of the population is now officially poor - that is, living on less than $1,300 a month.

As many across Western Europe see it, the state has already breached the social contract. The indignados of Madrid have caught the spirit of the moment perfectly: "We're not against the system, it's the system that is against us."

This spells out the essence of the abject failure of neo-liberal capitalism, as David Harvey explained in his latest book, The Enigma of Capital. He makes clear how a political economy "of mass dispossession, of predatory practices to the point of daylight robbery, particularly of the poor and the vulnerable, the unsophisticated and the legally unprotected, has become the order of the day".

Will Asia save global capitalism?
Meanwhile, Beijing is too busy remixing its destiny as the global Middle Kingdom - deploying engineers, architects, and infrastructure workers of the non-bombing variety from Canada to Brazil, Cuba to Angola - to be much distracted by the Atlanticist travails in MENA (aka the region that includes the Middle East and Northern Africa).

If the West is in trouble, global capitalism is being given a reprieve - how brief we don't know - by the emergence of an Asian middle class, not only in China and India, but also in Indonesia (240 million people in boom mode) and Vietnam (85 million). I never cease to marvel when I compare the instant wonders and real-estate bubble of the present moment in Asia to my first experiences living there in 1994, when such countries were still in the "Asian Tiger", pre-1997-financial-crisis years.

In China alone, 300 million people - "only" 23% of the total population - now live in medium-sized to major urban areas and enjoy what's always called "disposable incomes". They, in fact, constitute something like a nation unto themselves, an economy already two-thirds that of Germany's.

The McKinsey Global Institute notes that the Chinese middle class now comprises 29% of the Middle Kingdom's 190 million households, and will reach a staggering 75% of 372 million households by 2025 (if, of course, China's capitalist experiment hasn't gone off some cliff by then and its potential real-estate/finance bubble hasn't popped and drowned the society).

In India, with its population of 1.2 billion, there are already, according to McKinsey, 15 million households with an annual income of up to $10,000; in five years, a projected 40 million households, or 200 million people, will be in that income range. And in India in 2011, as in China in 2001, the only way is up (again as long as that reprieve lasts).

Americans may find it surreal (or start packing their expat bags), but an annual income of less than $10,000 means a comfortable life in China or Indonesia, while in the United States, with a median household income of roughly $50,000, one is practically poor.

Nomura Securities predicts that in a mere three years, retail sales in China will overtake the US and that, in this way, the Asian middle class may indeed "save" global capitalism for a time - but at a price so steep that Mother Nature is plotting some seriously catastrophic revenge in the form of what used to be called climate change and is now more vividly known simply as "weird weather".

Back in the USA
Meanwhile, in the United States, Nobel Peace Prize laureate President Barack Obama continues to insist that we all live on an American planet, exceptionally so. If that line still resonates at home, though, it's an ever harder sell in a world in which the first Chinese stealth fighter jet goes for a test spin while the American Secretary of Defense is visiting China.

Or when the news agency Xinhua, echoing its master Beijing, fumes against the "irresponsible" Washington politicians who starred in the recent debt-ceiling circus, and points to the fragility of a system "saved " from free fall by the Fed's promise to shower free money on banks for at least two years.

Nor is Washington being exactly clever in confronting the leadership of its largest creditor, which holds $3.2 trillion in US currency reserves, 40% of the global total, and is always puzzled by the continued lethal export of "democracy for dummies" from American shores to the Af-Pak war zones, Iraq, Libya and other hot spots in the Greater Middle East. Beijing knows well that any further US-generated turbulence in global capitalism could slash its exports, collapse its property bubble, and throw the Chinese working classes into a pretty hardcore revolutionary mode.

This means - despite rising voices of the Rick Perry/Michele Bachmann variety in the US - that there's no "evil" Chinese conspiracy against Washington or the West. In fact, behind China's leap beyond Germany as the world's top exporter and its designation as the factory of the world lies a significant amount of production that's actually controlled by American, European, and Japanese companies.

Again, the decline of the West, yes - but the West is already so deep in China that it's not going away any time soon. Whoever rises or falls, there remains, as of this moment, only a one-stop-shopping developmental system in the world, fraying in the Atlantic, booming in the Pacific.

If any Washington hopes about "changing" China are a mirage, when it comes to capitalism's global monopoly, who knows what reality may turn out to be?

Wasteland redux
The proverbial bogeymen of our world - Osama bin Laden, Saddam Hussein, Muammar Gaddafi, Mahmud Ahmadinejad (how curious, all Muslims!) - are clearly meant to act like so many mini-black holes absorbing all our fears. But they won't save the West from its decline, or the former sole superpower from its comeuppance.

Yale's Paul Kennedy, that historian of decline, would undoubtedly remind us that history will sweep away American hegemony as surely as autumn replaces summer (as surely as European colonialism was swept away, NATO's "humanitarian" wars notwithstanding).

Already in 2002, in the run-up to the invasion of Iraq, world-system expert Immanuel Wallerstein was framing the debate this way in his book The Decline of American Power: the question wasn't whether the United States was in decline, but if it could find a way to fall gracefully, without too much damage to itself or the world. The answer in the years since has been clear enough: no.

Who can doubt that, 10 years after the 9/11 attacks, the great global story of 2011 has been the Arab Spring, itself certainly a subplot in the decline of the West? As the West wallowed in a mire of fear, Islamophobia, financial and economic crisis, and even, in Britain, riots and looting, from Northern Africa to the Middle East, people risked their lives to have a crack at Western democracy.

That dream has been at least partially derailed, thanks to the medieval House of Saud and its Persian Gulf minions barging in with a ruthless strategy of counter-revolution, while NATO lent a helping hand by changing the narrative to a "humanitarian" bombing campaign meant to reassert Western greatness.

As NATO's secretary general Anders Fogh Rasmussen put the matter bluntly, "If you're not able to deploy troops beyond your borders, then you can't exert influence internationally, and then that gap will be filled by emerging powers that don't necessarily share your values and thinking."

So let's break the situation down as 2011 heads for winter. As far as MENA is concerned, NATO's business is to keep the US and Europe in the game, the BRICS members out of it, and the "natives" in their places. Meanwhile, in the Atlantic world, the middle classes barely hang on in quiet desperation, even as, in the Pacific, China booms, and globally the whole world holds its breath for the next economic shoe to drop in the West (and then the one after that).

Pity there's no neo-TS Eliot to chronicle this shabby, neo-Medievalist wasteland taking over the Atlanticist axis. When capitalism hits the intensive care unit, the ones who pay the hospital bill are always the most vulnerable - and the bill is invariably paid in blood.

Pepe Escobar is the author of Globalistan: How the Globalized World is Dissolving into Liquid War (Nimble Books, 2007) and Red Zone Blues: a snapshot of Baghdad during the surge. His new book, just out, is Obama does Globalistan (Nimble Books, 2009).

He may be reached at pepeasia@yahoo.com.

(Copyright 2011 Pepe Escobar.)

(Used by permission Tomdispatch)