Vive les déficits américains !

Au moment où le dollar faible pend comme une épée de Damoclès au-dessus de l’économie mondiale, presque tout le monde déplore la prodigalité des Américains. Mais savez-vous à quel point les Américains doivent travailler dur pour la bonne image du reste du monde ?

Grâce aux déficits commerciaux béants de l’Amérique, le plus grand souci des ministres des finances des pays développés est aujourd’hui d’empêcher leurs monnaies de grimper trop vite face au dollar. Cela n’arrive pas si souvent ! Les pays frappés de façon chronique par des crises d’endettement, du Mexique à la Russie en passant par la Corée du Sud, doivent tous repousser les capitaux d’investisseurs à la recherche d’une issue alors que le dollar s’effondre.

Généralement, lorsque le monde sort d’une période de récession et que les taux d’intérêts augmentent, au moins un ou deux marchés émergents explosent de façon spectaculaire. Et pourtant, probablement pas cette fois-ci, du moins pas cette année.

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