經濟衰退又遇通膨,偏偏油價也漲,會出現本世紀的石油危機嗎?

"美國連續數月CPI(消費者物價指數)上漲超過5.4%,歐洲幾個主要國家的CPI已創13年來新高,長期擔心「通縮」的歐元區,預估年底通膨會達4%,超出目標一倍;官方原來咬定這是「短暫因素」,但日前也改口說這種情況「會比預期的時間長」。

接下去的情況,短期內改善機率不高,惡化的可能性更高─最明顯的就是馬上面臨的冬季因素,能源價格有再上漲之虞,中國放寬電價限制後,電價一口氣漲價2成左右,而貨運延誤、晶片缺貨、供應鏈混亂等因素則仍持續。大部份人都認為這些因素會延續到2022年,晶片缺貨甚至被認為全年都無法紓緩。

數據上也反應通膨壓力尚未結束─本周公布的中國9月份工業生產者出廠價格指數(PPI)同比上漲10.7%,是1995年以來的最高漲幅,其它國家8月份的PPI上漲9.5%,而歐美的PPI也都飆上10%左右,這代表還有物價壓力尚未反應到末端的消費端,通膨壓力仍將持續。"

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中國經濟在年底面臨的內外夾攻:

"Persistently high factory-gate prices in China will likely exacerbate inflationary anxiety in the U.S. and other western economies while causing limited pain for China’s own consumers, in large part because a recovery in domestic demand has fallen short of expectations, economists say.

Still, elevated commodity prices in the near term will limit Beijing’s options for stimulating an economy bruised by a rapidly cooling real-estate sector, ongoing power shortages and renewed outbreaks of Covid-19 cases."

wsj.com/articles/chinas-factor

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