贝莱德（BlackRock）：2025年全球投资展望报告：全球经济步入非典型周期（英文版）（18页）.pdf

1、BlackRock Investment Institute2025 GlobalOutlookBuilding the transformationFOR PUBLIC DISTRIBUTION IN THE U.S.,CANADA,LATIN AMERICA,ISRAEL,HONG KONG,SINGAPORE AND AUSTRALIA.FOR INSTITUTIONAL,PROFESSIONAL,QUALIFIED INVESTORS/CLIENTS IN OTHER PERMITTED COUNTRIES.BIIM1224U/M-4071082-1/1822025 Global Ou

2、tlookIntroductionTwice a year,BlackRocks senior portfolio managers and investment executives gather for two days to debate the outlook for economies and markets and its implications for portfolios.The Global Outlook is the culmination of that debate and discussion.That debate informs our macro frami

3、ng:we have more conviction we are in a very unusual environment.This is not a typical business cycle the world is undergoing an economic transformation driven by mega forces.Through this lens,we assess the investment opportunities and risks unfolding today and craft the themes of this outlook.Our th

4、ree themes are centered on three interconnecting ideas.First,that capital markets,including private markets,are pivotal in building the transformation we see ahead.Second,that investing itself needs a rethink in this unusual environment of transformation.And as the AI theme broadens out and supports

5、 U.S.corporate strength,we keep a pro-risk stance.Rob KapitoPresident BlackRock Philipp HildebrandVice Chairman BlackRockJean BoivinHead BlackRock Investment InstituteEd FishwickHead of Risk and Quantitative Analysis BlackRockWei LiGlobal Chief Investment Strategist BlackRock Investment InstituteViv

6、ek PaulGlobal Head of Portfolio Research BlackRock Investment InstituteRick RiederHead of Fundamental Fixed Income BlackRockRaffaele SaviGlobal Head of Systematic BlackRockAuthorsExecutive sponsorsRich KushelHead BlackRock Portfolio Management GroupFOR PUBLIC DISTRIBUTION IN THE U.S.,CANADA,LATIN AM