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# 《经济学人》2026年8月1日至7日号:巨无霸指数40年与全球货币错配
- URL: https://news.sisuer.cn/economist-2026-08-01-issue/
- Published: 2026-08-23T03:34:26.000Z
- Updated: 2026-08-23T03:34:26.000Z
- Description: 《经济学人》本期以“全球货币牛肉”为封面主题，借巨无霸指数40年追问汇率为何持续错配；同时关注亚洲安全、伊朗冲突、气候火灾、人工智能与量子计算。
- Author: rogerlan
- Tags: Economist, economy

# 《经济学人》2026年8月1日至7日号:巨无霸指数40年与全球货币错配

本期封面以“全球货币牛肉”为题，回望巨无霸指数诞生40年后的老问题：各国货币为何依然普遍错配，汇率失衡又如何映照贸易、储蓄与宏观政策的结构性矛盾。围绕这一主线，本期还把美国在亚洲的安全承诺、伊朗局势、欧洲野火、AI 写作与量子计算放入同一幅国际政治经济图景。

### 货币不是一道单选题

封面文章与 Briefing 都从巨无霸指数出发，但并不把“人民币升值”当作全球失衡的万能解方。受邀撰文者 **吉塔·戈皮纳特**(Gita Gopinath)、**皮埃尔-奥利维耶·古兰沙**(Pierre-Olivier Gourinchas) 与 **埃莱娜·雷伊**(Hélène Rey)认为，把问题归咎于低估的人民币，既误判病因，也误判疗法。编辑部则借指数40年历程指出，简单易懂的汉堡价格比较能照见失衡，却不能替代更难处理的财政、储蓄和投资问题。

### 美国承诺受考验的亚洲

从中国在第一岛链周边加大对美国盟友的施压，到日本青年重新进入政治、印度毕业生就业危机和老挝啤酒经济，本期亚洲报道的共同背景是政治与经济的不确定性。社论尤其强调，盟友加强自身防务固然必要，但美国是否仍愿承担承诺，才是区域安全的关键变量。

### 技术热潮的两面

本期技术线索横跨 AI、量子计算与创业。编辑部一面提醒，量子突破可能让今天被收集的数据在未来暴露，后量子加密必须提早部署；一面考察 AI 如何改变写作、工作和小企业创业。对于 AI 写作，文章的结论并不止于“识别机器文本”，而是把编辑能力视为人类写作者更重要的防线。

### 编辑按

**编辑按**: 巨无霸指数原本以一项轻巧的跨国价格比较进入公共讨论，本期却用它串起汇率、贸易失衡与国家政策的硬问题。与亚洲安全、海湾油价、野火和 AI 议题并读，可以看到《经济学人》的核心判断：看似彼此分离的危机，往往都取决于制度能否在长期成本真正到来前作出调整。

### 社论 · Leaders

| 页码 | 中文标题             | English Title                                                      |
| -- | ---------------- | ------------------------------------------------------------------ |
| 16 | 巨无霸指数如何揭示全球货币错配  | What the Big Mac index reveals about a global currency beef        |
| 18 | 现在就该升级到后量子加密     | It is past time to upgrade to post-quantum encryption              |
| 21 | 中国正在亚洲试探美国的防线    | China is testing America’s defence lines in Asia                   |
| 25 | 欧洲野火只是开始         | Europe’s fires are just the start                                  |
| 29 | AI 更会写了，人类必须更会编辑 | AI is getting better at writing. Humans must get better at editing |
| 33 | 美国创业潮为未来工作带来希望   | America’s startup boom offers hope for the future of work          |

### 读者来信 · Letters

| 页码 | 中文标题           | English Title                                             |
| -- | -------------- | --------------------------------------------------------- |
| 37 | 英国社会住房是否补贴错了人？ | Does Britain’s social housing subsidise the wrong people? |

### 特邀撰稿 · By Invitation

| 页码 | 中文标题             | English Title                                         |
| -- | ---------------- | ----------------------------------------------------- |
| 45 | 别把全球失衡归咎于被低估的人民币 | Don’t blame global imbalances on the undervalued yuan |

### 详报 · Briefing

| 页码 | 中文标题             | English Title                                                         |
| -- | ---------------- | --------------------------------------------------------------------- |
| 50 | 巨无霸指数40年后，货币依然错配 | Despite 40 years of our Big Mac index, currencies are still mispriced |

### 亚洲 · Asia

| 页码 | 中文标题                   | English Title                                                       |
| -- | ---------------------- | ------------------------------------------------------------------- |
| 52 | 中国押注特朗普不会在意其欺压美国盟友     | China bets that Donald Trump won’t mind it bullying American allies |
| 59 | 印度抗议背后是毕业生就业危机         | Behind India’s protests is a crisis in the graduate-jobs market     |
| 64 | 日本政治对年轻人不再那么令人却步       | Japanese politics is becoming less of a turn-off for the young      |
| 68 | Beerlao：或许是世界上最重要的拉格啤酒 | Beerlao: probably the most important lager in the world             |
| 70 | 纳伦德拉·莫迪正试图重拾政治光环       | Narendra Modi is on a quest to regain his aura                      |

### 中国 · China

| 页码 | 中文标题             | English Title                                                  |
| -- | ---------------- | -------------------------------------------------------------- |
| 74 | 中国最雄伟的河流正从危机边缘复苏 | China’s mightiest river is coming back from the brink          |
| 81 | 习近平：开创风险投资先河的资本家 | Xi Jinping, pioneering venture capitalist                      |
| 85 | 香港书商遭遇的奇异而无尽的打压  | The curious, never-ending crackdown on Hong Kong’s booksellers |
| 88 | 性、血腥与共产党价值观      | Sex, blood and Communist Party virtues                         |

### 美国 · United States

| 页码  | 中文标题                   | English Title                                                       |
| --- | ---------------------- | ------------------------------------------------------------------- |
| 91  | 反堕胎运动的新战场              | The anti-abortion crusade’s new fight                               |
| 97  | 唐纳德·特朗普正在向弗拉基米尔·泽连斯基靠拢 | Donald Trump is warming to Volodymyr Zelensky                       |
| 101 | 如何把解决办法变成问题            | How to turn solutions into problems                                 |
| 104 | 佛罗里达宠儿与加州失意者的风向逆转      | The tide turns for a Florida darling and California loser           |
| 110 | 唐纳德·特朗普的食品券改革开始让人感到痛楚  | Donald Trump’s food-stamp overhaul is beginning to bite             |
| 114 | 密歇根州参议员初选成为民主党控制权之争    | The Michigan Senate primary is a fight for control of the Democrats |

### 美洲 · The Americas

| 页码  | 中文标题             | English Title                                               |
| --- | ---------------- | ----------------------------------------------------------- |
| 118 | 加拿大转向欧洲寻求安全保障    | Canada turns to Europe for its security                     |
| 124 | 菲律宾移民如何振兴加拿大一座小镇 | How Filipino immigrants revitalised a small Canadian town   |
| 128 | 巴西拥有全球最严厉的仇恨言论法律 | Brazil has the world’s strictest laws against racist speech |

### 中东与非洲 · Middle East & Africa

| 页码  | 中文标题              | English Title                                                    |
| --- | ----------------- | ---------------------------------------------------------------- |
| 133 | 伊朗新一轮打击暴露特朗普协议的脆弱 | New strikes in Iran show the weakness of Donald Trump’s deal     |
| 138 | 沙特阿拉伯与胡塞武装陷入危险对峙  | Saudi Arabia is locked in a dangerous stand-off with the Houthis |
| 143 | 国际刑事法院整顿内部        | The International Criminal Court puts its house in order         |
| 146 | 西非已成为庞大的可卡因交易枢纽   | West Africa has become a huge cocaine-trading hub                |
| 152 | 卢旺达人为何重新接纳狗       | Why Rwandans are warming to dogs                                 |

### 欧洲 · Europe

| 页码  | 中文标题                | English Title                                                    |
| --- | ------------------- | ---------------------------------------------------------------- |
| 155 | 法国和西班牙遭遇有记录以来最严重的野火 | France and Spain are suffering their biggest wildfires on record |
| 157 | 柏林恐袭暴露国家体制的深层失职     | The Berlin terror attack exposes deep failings in the state      |
| 160 | 新党为土耳其反对派注入活力       | A new party breathes life into Turkey’s opposition               |
| 166 | 俄罗斯打击或令乌克兰粮食无法进入市场  | Russian strikes may keep Ukraine's grain from reaching markets   |
| 170 | 在意大利，美国在大使游艇上做生意    | In Italy, America does business on the ambassador’s yacht        |

### 英国 · Britain

| 页码  | 中文标题                    | English Title                                                          |
| --- | ----------------------- | ---------------------------------------------------------------------- |
| 173 | 安迪·伯纳姆夺权后想下放一些权力        | Having clawed his way to power, Andy Burnham wants to give some away   |
| 182 | 世界正在进入后明信片时代            | The world is entering a post-postcard era                              |
| 187 | 一项广为流传的统计正在塑造英国“诱骗团伙”争论 | A widely repeated statistic is shaping Britain’s grooming-gangs debate |
| 191 | 健康科技与 AI 进入马术运动         | Health tech and AI come to equestrianism                               |
| 194 | 英国艰难建设数据中心              | Britain is struggling to build data centres                            |
| 200 | 独立派建制                   | The indie establishment                                                |

### 国际 · International

| 页码  | 中文标题                | English Title                                               |
| --- | ------------------- | ----------------------------------------------------------- |
| 204 | 餐饮业正在发生翻天覆地的变化      | The restaurant business is changing beyond recognition      |
| 213 | 若特朗普抽身，法国核武器能保护欧洲吗？ | Can French nukes protect Europe if Donald Trump walks away? |

### 商业 · Business

| 页码  | 中文标题                  | English Title                                               |
| --- | --------------------- | ----------------------------------------------------------- |
| 217 | 美国已成为创业者的天堂           | America has become an entrepreneur’s paradise               |
| 226 | 从事金融欺诈从未如此容易          | There’s never been a better time to commit financial fraud  |
| 232 | 出售足球这项美丽运动的股份，会出什么问题？ | Selling stakes in the beautiful game. What could go wrong?  |
| 235 | 私募股权盯上印度超级板球联赛        | Private equity is coming for the Indian Premier League      |
| 238 | 忘掉空客和波音：巴西航空工业公司正在高飞  | Forget Airbus and Boeing. Embraer is soaring                |
| 243 | 雨果·博斯争夺战              | The battle for Hugo Boss                                    |
| 246 | 截止期限的妙处               | The delights of deadlines                                   |
| 250 | 韩国股市繁荣正戏剧性崩塌          | South Korea’s stock-market boom is collapsing spectacularly |

### 金融与经济 · Finance & economics

| 页码  | 中文标题              | English Title                                            |
| --- | ----------------- | -------------------------------------------------------- |
| 254 | AI 收入增长很快，但还不够快   | AI revenues are growing fast, but not fast enough        |
| 263 | 油价依然高度易燃          | Oil prices remain highly flammable                       |
| 272 | 如何设计代表欧洲的纸币       | How to design paper money that represents Europe         |
| 275 | 共同的欧洲安全资产仍不大可能出现  | A common European safe asset is still unlikely           |
| 280 | 日本推行不合时宜的财政刺激     | Japan pursues an ill-timed fiscal stimulus               |
| 286 | 散户投资者应当警惕永续期货     | Retail investors should beware perpetual futures         |
| 290 | 美国国际开发署消亡造成多少人死亡？ | How many people are dying as a result of USAID’s demise? |

### 科学与技术 · Science & technology

| 页码  | 中文标题           | English Title                                      |
| --- | -------------- | -------------------------------------------------- |
| 294 | 量子计算机承诺带来数学超能力 | Quantum computers promise mathematical superpowers |
| 307 | AI 与量子计算机将亦敌亦友 | AI and quantum computers will be frenemies         |

### 文化 · Culture

| 页码  | 中文标题                             | English Title                                                   |
| --- | -------------------------------- | --------------------------------------------------------------- |
| 312 | 如何识别 AI 写作                       | How to spot AI writing                                          |
| 323 | 汤姆·霍兰德何以成为全球票房最高的年轻演员            | How Tom Holland became the world’s highest-grossing young actor |
| 326 | 基因工程瘟疫的骇人威胁                      | The terrifying threat of a genetically engineered plague        |
| 330 | 大胆、张扬而充满争议：走进 Barstool Sports 帝国 | Bold, brash and divisive: inside the Barstool Sports empire     |
| 334 | 一场种族主义屠杀、一次白人至上主义政变与百年谎言         | A racist massacre. A white-supremacist coup. A century of lies  |
| 338 | 边境墙是权力的象征，也是幻觉的纪念碑               | Border walls are symbols of power—and monuments to delusion     |

### 经济与金融指标 · Economic & financial indicators

| 页码  | 中文标题          | English Title                           |
| --- | ------------- | --------------------------------------- |
| 342 | 经济、数据、大宗商品与市场 | Economic, data, commodities and markets |

### 讣告 · Obituary

| 页码  | 中文标题        | English Title                                           |
| --- | ----------- | ------------------------------------------------------- |
| 348 | 林荣基：不肯认输的书商 | Lam Wing-kee, the bookseller who would not admit defeat |

**如果以上某篇文章需要英译中，请留言告诉我们。** 本期原刊 PDF 可点击下载:[经济学人 期刊目录页](https://list.rlan84.cn:9700/%E6%9C%9F%E5%88%8A%E9%9B%86/%E7%BB%8F%E6%B5%8E%E5%AD%A6%E4%BA%BA/?ref=news.sisuer.cn)