随着全球经济复苏迹象日益明显,美国量化宽松货币政策渐趋尾声,国际资本市场出现波动,危机后表现相对良好的新兴市场普遍面临资本大量外流的挑战。在此背景下,分析研究新兴市场资本流动的近况、未来趋势及主要影响因素,有助于中国应对未来风险,加快与世界经济的融合。一、全球新兴市场资本流动现状2008年全球金融危机后,受发达经 As the signs of global economic recovery are becoming increasingly evident, the quantitative easing monetary policy of the United States is coming to an end and the international capital markets fluctuate. Emerging markets that have performed relatively well after the crisis generally face the challenge of massive capital outflows. In this context, the analysis of the recent capital flows in emerging markets, future trends and major influencing factors will help China to deal with future risks and speed up the integration with the world economy. First, the status of global capital flows in emerging markets After the 2008 global financial crisis, developed by the economy