La Chine et la crise financière mondiale

GENÈVE – La Chine est-elle un havre de stabilité au milieu de la tempête financière mondiale, ou va-t-elle, à son tour, se faire aspirer par l’œil du cyclone ?

Les représentants chinois ont déclaré que la crise qui a commencé aux États-Unis ne ralentirait pas les réformes des marchés financiers chinois prévues de longue date. Ils insistent sur le fait que la Chine maintiendra ses projets d’introduction du trading sur marge, de vente à découvert et des contrats à terme sur les cours des actions. Mais le pays a ralenti sa libéralisation du marché des capitaux après la crise asiatique d’il y a dix ans, il est donc possible que les difficultés des États-Unis la rendent plus prudente.

La Chine a joué un rôle important dans le financement du déficit budgétaire des États-Unis ces dernières années, grâce à ses efforts pour maintenir le taux de change du yuan face au dollar. Elle ne veut pas que son important excédent de la balance courante ne pousse sa monnaie trop loin, et peut désormais vouloir ralentir l’appréciation du yuan, inquiète du ralentissement économique mondial.

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