La finance chinoise après l'OMC

The paper demonstrates the continuing ability of the Chinese state to effectively provide a direction to its financial sector by foreclosing its speculatory options, largely with capital account controls and strict regulatory provisions. China?s entry to the WTO may not tilt the balance in terms of a greater sphere for speculation as long as China maintains its vigil over the financial sector. Success of China?s state capitalism in gearing finance to industry, in avoiding the risk hazards of footloose mobile capital and, above all, in entering the global market at its own terms should not, however, lead us to forget its policy failures to address issues of internal distribution, especially with rising inequalities and discontent affecting large sections of people.