硅谷银行：2025年全球私人市场趋势报告（英文版）

In some sense, the world has gotten riskier for investors, with geopolitical tensions, security issues and trade policies raising regional concerns. Investors are reacting to these issues by adjusting their cross-border strategies and international exposures. The bifurcation of the global tech market is perhaps one of the biggest drivers of change. In the 2010s, SinoAmerican investment surged; however, today the reversal of this trend is in full swing and is leading to a decoupling of US and