Shanghai Stock Exchange Featurechina/Ropi/ZumaPress

Las contradicciones del capitalismo comunista de China

BERKELEY – El reciente desplome vertiginoso de las bolsas de valores de Shanghái y Shenzhen ha sido una prueba excepcional para los gobernantes comunistas de China. Mientras los mercados subían, la paradoja del vigoroso desarrollo capitalista  supervisado por el mayor y más potente Partido Comunista del mundo sólo desconcertaba al mundo académico y a los marxistas de la vieja escuela. Mientras la minoría dominante del Partido Comunista y sus familiares, las entidades financieras extranjeras y algunos pequeños inversores chinos (gracias al crédito marginal) ganaban dinero con las acciones, nadie se molestaba en entender el ser mutante que estaban ordeñando.

Pero ahora, al comprenderse que los precios de los valores chinos no seguirán subiendo indefinidamente, el PCC está adoptando medidas desesperadas, pero torpes, para controlar la corrección. Ahora se han parado todas las ofertas públicas iniciales y se han restringido muchas transacciones; se ha pedido al Banco Central que ayude a la Corporación Financiera de Valores de China a inducir a los inversores para que compren acciones y con ello estabilizar el mercado. De hecho, incluso los fondos soberanos del país se han puesto a hacerlo.

Pero, a diferencia de lo que ocurre en otras economías capitalistas, el dinero no es el único instrumento a disposición de las autoridades. Si tus agentes de bolsa en China te aconsejan que vendas acciones, deben procurar no parecer creadores de rumores, sujetos al castigo oficial. Y se tienen noticias de que las ventas de grandes sociedades de cartera pueden desencadenar investigaciones de las autoridades. El de causar desorden público o inestabilidad financiera puede ser un delito grave en China, donde abundan las teorías conspirativas sobre los intentos por parte de extranjeros de socavar la economía.

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