Donald Trump’s election victory has sent a shudder through Europe and Asia as policymakers and executives digested the implications of a US-led lurch towards protectionism.
唐纳德•特朗普(Donald Trump)赢得大选震动欧洲和亚洲，这两个地区的政策制定者和高管都在消化美国主导的保护主义倾向所带来的影响。
Europe’s export-oriented countries — led by the region’s largest economy, Germany — are heavily exposed to the US president-elect’s claims that he would tighten trade restrictions and loosen security ties with the US’s allies.
欧洲出口导向型国家——以该地区最大经济体德国为首——更容易受到美国这位当选总统的影响，因为他声称将收紧贸易限制，放松与美国盟友的安全关系。
Moritz Schularick, president of the Kiel Institute for the World Economy, described a second Trump presidential term as “the most difficult economic moment” in Germany’s postwar history.
基尔世界经济研究所(Kiel Institute for the World Economy)所长莫里茨•舒拉里克(Moritz Schularick)将特朗普的第二个总统任期形容为德国战后历史上“最困难的经济时刻”。
Berlin was “not prepared” to deal with the challenges both in foreign trade and security policy that it will soon face, he said, adding that it would now need to “invest massively” in defence capabilities.
他表示，柏林方面“没有准备好”应对即将面临的外贸和安全政策方面的挑战，并补充称现在需要“大规模”投资于国防能力。
The repercussions for the global economy are neither immediate nor straightforward, however.
然而，这对全球经济的影响并非即时且直接的。
Many analysts expect the next president’s vow to make his 2017 tax cuts on corporates and the wealthy permanent to initially boost growth. “Fiscal stimulus might dominate and be a small positive” in the near term, said Innes McFee at Oxford Economics.
许多分析师预计，下一任总统誓言将其2017年对企业和富人的减税政策永久化，这将在初期促进经济增长。牛津经济研究院(Oxford Economics)的英尼斯•麦克菲(Innes McFee)说，“财政刺激可能会占主导地位，并在短期内成为一个小的利好因素”。
US equity markets surged to an intraday high after Trump’s decisive victory, as investors focused on the prospect for lower corporate taxes and deregulation.
特朗普取得决定性胜利后，美国股市一度飙升至盘中高点，因为投资者关注的是降低企业税和放松监管的前景。