贝莱德（BlackRock）：2026年中全球投资展望报告：稀缺与丰裕（英文版）

The world of scarcity is visible in resource constraints, tight labor markets and sticky inflation. A key feature is upward pressure on interest rates. Scarcity drives that through inflation and competition for capital. A growth breakout to abundance requires a huge AI buildout first, creating the same pressures. Investors face big macro calls in this new regime. We focus on six: AI-led growth, AI cost, interest rates, debt, geopolitical chokepoints and U.S. leadership. Each call contains com