Le défi du Renminbi

SEOUL – Le mois dernier, la Chine a dévoilé son premier porte-avions, et continue de se préparer à défier les États-Unis dans la mer de Chine méridionale. De même, en lançant un programme destiné à internationaliser sa monnaie, la Chine cherche à contester la valeur du dollar sur la scène internationale.

C’est délibérément que les responsables chinois tentent de forger un rôle mondial pour le renminbi. Pour reprendre les mots du vénérable proverbe chinois, ils « traversent la rivière en tâtant du pied chaque pierre. »

La première décision prises par les autorités a été d'autoriser les entreprises chinoises à utiliser le renminbi pour régler les transactions commerciales transfrontalières. Lorsque que les entreprises étrangères exportant vers la Chine se sont mises à accepter des paiements en renminbi, la devise s’est accumulée sur leurs comptes bancaires à Hong Kong. Cela a mené à l'étape suivante: les entreprises étrangères souhaitant investir en Chine ont été autorisées à exploiter ces dépôts grâce à l’émission d’obligations libellées en renminbi, et les institutions financières offshore éligibles ont été autorisées à investir leurs renminbis sur le marché obligataire interbancaire chinois.

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