Un Capital, Des Capitales

NEW YORK – Le gouvernement chinois a annoncé récemment qu’il voulait, d’ici 2020, faire de Shanghai une capitale financière mondiale, au même titre que Londres ou New York. Un objectif ambitieux, qu’il atteindra ou n’atteindra pas. Mais ces aspirations chinoises dénotent par ailleurs un fait nouveau, angoissant et de plus en plus envahissant: les responsables politiques s’arrogent des décisions habituellement dévolues aux marchés, et ce phénomène se développe à une échelle qui ne s’est pas vue depuis des décennies.

Comme la crise financière, cette tendance est aujourd’hui globale. Les décisions que prennent des dirigeants de dizaines de pays vont avoir, à court terme, un impact sur les performances des marchés locaux (et globaux).

En Chine, les exportations ont baissé de plus de 25% en février. Que l’on ne s’en inquiète pas, assure le premier ministre Wen Jiabao: le gouvernement chinois a “ce qu’il faut comme munitions” pour arrondir son plan de relance, un plan de 586 milliards de dollars destiné à créer des millions d’emplois, via d’énormes investissements que le gouvernement engage dans les transports, les infrastructures énergétiques, l’immobilier et autres projets d’envergure.

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