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{"id":29677,"date":"2017-04-28T15:51:29","date_gmt":"2017-04-28T13:51:29","guid":{"rendered":"https:\/\/asialyst.com\/fr\/2017\/04\/28\/comment-chine-deploie-reseau-intelligent-smart-grid-copy\/"},"modified":"2017-04-28T16:56:48","modified_gmt":"2017-04-28T14:56:48","slug":"chine-shadow-banking-bombe-retardement","status":"publish","type":"post","link":"https:\/\/asialyst.com\/fr\/2017\/04\/28\/chine-shadow-banking-bombe-retardement\/","title":{"rendered":"Chine : le \u00ab\u00a0Shadow Banking\u00a0\u00bb, la bombe \u00e0 retardement"},"content":{"rendered":"<div class=\"container\">\n\t<meta itemprop=\"keywords\" content=\"Economie\" \/>\n\t<a href=\"https:\/\/asialyst.com\/fr\/economie\/\" class=\"category category-37\">Economie<\/a><br \/>\n\t<time datetime=\"2017-04-28T15:51:29Z\" itemprop=\"datePublished\">\n\t\tPubli\u00e9 28 Avril 2017<br \/>\n\t\tMis \u00e0 jour 28 Avril 2017\t<\/time>\n\t<meta itemprop=\"dateModified\" content=\"2017-04-28T16:56:48Z\" \/>\n<\/div>\n<div class=\"container\">\n<div class=\"surtitre\" itemprop=\"headline\">Analyse<\/div><\/div>\n<div class=\"container\">\n\t<h1 itemprop=\"name\">Chine : le \"Shadow Banking\", la bombe \u00e0 retardement<\/h1>\n<\/div>\n<div class=\"container\">\n  <div class=\"authors\">\n    <ul>\n    \t        <li class=\"author\" itemprop=\"author\" itemscope itemtype=\"http:\/\/schema.org\/Person\">\n          <a href=\"https:\/\/asialyst.com\/fr\/auteur\/vivienfortat\/\" class=\"category-color\" itemprop=\"url\">\n            <span itemprop=\"name\" class=\"name\">\n              Vivien Fortat            <\/span>\n            <img data-del=\"avatar\" alt=\"Vivien Fortat\" src='https:\/\/asialyst.com\/fr\/wp-content\/uploads\/2021\/02\/purple-clouds-palace-150x101.jpg' class='avatar pp-user-avatar avatar-150 photo ' height='150' width='150'\/>          <\/a>\n        <\/li>\n    \t    <\/ul>\n  <\/div>\n<\/div>\n<div class=\"container\">\n  <div class=\"photo-une\" itemprop=\"image\" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\">\n    <figure>\n      <a href=\"https:\/\/asialyst.com\/fr\/wp-content\/uploads\/2017\/04\/chine-monnaie-yuan-finance-ombre-e1493391064343.jpg\" class=\"article-image\" title=\"Si le \"shadow banking\" ou \"finance de l'ombre\" s'effondrait, des pans entiers de l'\u00e9conomie chinoise seraient menac\u00e9s. (Cr\u00e9dits : AFP PHOTO\/FRANKO LEE)\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"675\" src=\"https:\/\/asialyst.com\/fr\/wp-content\/uploads\/2017\/04\/chine-monnaie-yuan-finance-ombre-e1493391064343.jpg\" class=\"img-responsive\" alt=\"Si le &quot;shadow banking&quot; ou &quot;finance de l&#039;ombre&quot; s&#039;effondrait, des pans entiers de l&#039;\u00e9conomie chinoise seraient menac\u00e9s. (Cr\u00e9dits : AFP PHOTO\/FRANKO LEE)\" \/><\/a>\n      <meta itemprop=\"height\" content=\"1024\"\/>\n      <meta itemprop=\"width\" content=\"675\"\/>\n      <meta itemprop=\"contentUrl\" content=\"https:\/\/asialyst.com\/fr\/2017\/04\/28\/chine-shadow-banking-bombe-retardement\/\"\/>\n      <figcaption class=\"legend\" itemprop=\"description\">\n      \t<div class=\"container\">\n        \tSi le \"shadow banking\" ou \"finance de l'ombre\" s'effondrait, des pans entiers de l'\u00e9conomie chinoise seraient menac\u00e9s. (Cr\u00e9dits : AFP PHOTO\/FRANKO LEE)        <\/div>\n      <\/figcaption>\n    <\/figure>\n  <\/div>\n<\/div>\n\n<div class=\"container\">\n\t<div class=\"chapo\" itemprop=\"description\">\n\t\tFace au durcissement des conditions d\u2019octroi de cr\u00e9dit, de nombreuses entreprises chinoises se tournent vers des cr\u00e9anciers en dehors du secteur bancaire. C\u2019est le <em>Shadow Banking<\/em>, ou la \u00ab\u00a0finance de l&rsquo;ombre\u00a0\u00bb. App\u00e2t\u00e9s par des taux d\u2019int\u00e9r\u00eats \u00e9lev\u00e9s, de nombreux bailleurs de fonds, dont les collectivit\u00e9s locales, se positionnent sur ce march\u00e9. Ce syst\u00e8me \u00e9chappe \u00e0 tous les cadres de r\u00e9gulations du secteur financier. S\u2019il se met \u00e0 tousser, ce sont des pans entiers de l\u2019\u00e9conomie chinoise et les responsables politiques qui trembleront. Les premiers sympt\u00f4mes commencent \u00e0 apparaitre. P\u00e9kin tente de pr\u00e9venir l\u2019effet domino.\t<\/div>\n<\/div>\n<div class=\"container\">\n\t<div class=\"text\" itemprop=\"articleBody\">\n\t\tQui est Xing Libin ? Cet ex-tycoon chinois du charbon est un illustre inconnu en Occident. Pourtant, son nom fait frissonner tous les r\u00e9gulateurs en Chine jusque dans les couloirs de la puissante People&rsquo;s Bank of China (la banque centrale chinoise). En 2012, au sommet de sa gloire il d\u00e9pense 11 millions de dollars pour le mariage de sa fille \u00e0 Hainan. Moins d\u2019un an apr\u00e8s, sa compagnie fait faillite. Deux milliards de dollars de dettes contract\u00e9es via le <em>shadow banking<\/em> apparaissent au grand jour. Les bailleurs n\u2019ont presque rien r\u00e9cup\u00e9r\u00e9.\t<\/div>\n<\/div>\n\n<div class=\"container\">\n\t<h2>Une solution flexible en forte croissance<\/h2>\n<\/div>\n<div class=\"container\">\n\t<div class=\"text\" itemprop=\"articleBody\">\n\t\tMalgr\u00e9 cette histoire, le <em>shadow banking<\/em> est en forte croissance en Chine. Avec 4,1 trillions de dollars en 2016, il est en grande partie responsable de l\u2019explosion du ratio dette\/PIB en Chine (277 % fin 2016 selon UBS). Pourquoi une telle popularit\u00e9 ? Selon Andrew Kemp Collier, ancien pr\u00e9sident de Bank of China aux \u00c9tats-Unis (voir notre encadr\u00e9 en bas d&rsquo;article \u00ab\u00a0Pour aller plus loin\u00a0\u00bb), il <em>\u00ab\u00a0offre une source alternative de financement lorsque les banques ne veulent pas ou ne peuvent pas pr\u00eater. C\u2019est particuli\u00e8rement vrai pour les petites entreprises et les secteurs que le gouvernement cherche \u00e0 r\u00e9guler comme celui de l\u2019immobilier.\u00a0\u00bb<\/em>\t<\/div>\n<\/div>\n\n<div class=\"container\">\n\t<div class=\"text\" itemprop=\"articleBody\">\n\t\tLe <em>shadow banking<\/em> permet aussi de s\u2019affranchir de certaines contraintes telles que le montant maximum de pr\u00eats autoris\u00e9s, les niveaux d\u2019apports personnel ou le capital d\u00e9tenu. En contrepartie, les taux d\u2019int\u00e9r\u00eats sont plus \u00e9lev\u00e9s qu\u2019aupr\u00e8s d\u2019une banque officielle. Les 67 Trusts qui dominent le march\u00e9, ainsi que les nombreux gestionnaires de fortune, agissent comme des banques sans pour autant \u00eatre soumis aux obligations de celles-ci. Aucune contrainte de contr\u00f4le du risque financier de l\u2019emprunteur, pas de fonds de garantie, pas de soutien de la banque centrale en cas de d\u00e9faut de paiement. Dans une moindre mesure, les particuliers n\u2019ayant pas les moyens de r\u00e9aliser de gros placements commencent \u00e0 s\u2019int\u00e9resser \u00e0 ce march\u00e9. Les plateformes de crowdfunding et crowdlending \u00e9mergent en Chine (3-4 % du march\u00e9 aujourd\u2019hui). Elles sont dans le viseur des gros \u00e9tablissements bancaires. Tr\u00e8s li\u00e9es aux autorit\u00e9s chinoises, les banques veulent proposer des solutions similaires et r\u00e9cup\u00e9rer les b\u00e9n\u00e9fices li\u00e9s \u00e0 ce nouveau march\u00e9.\t<\/div>\n<\/div>\n\n<div class=\"container\">\n\t<h2>Un sc\u00e9nario qui se rapproche de la crise des subprimes<\/h2>\n<\/div>\n<div class=\"container\">\n\t<div class=\"text\" itemprop=\"articleBody\">\n\t\tDepuis quelques ann\u00e9es, le ph\u00e9nom\u00e8ne devient encore plus dangereux. La Chine conna\u00eet une financiarisation croissante de son \u00e9conomie. Coupl\u00e9e \u00e0 une restriction de sortie des capitaux, cela cr\u00e9e une demande pour de nouveaux produits financiers. A l\u2019image de ce qu\u2019il s\u2019est pass\u00e9 aux \u00c9tats-Unis avant la crise des <em>subprimes<\/em>, les cr\u00e9ateurs de pr\u00eats externalisent le risque. Ils revendent le pr\u00eat \u00e0 des tiers (collectivit\u00e9s locales, particuliers, entreprises&#8230;) qui toucheront les int\u00e9r\u00eats. S\u00e9duits par des taux avantageux, en comparaison des placements financiers classiques, les cr\u00e9anciers oublient que ces placements, effectu\u00e9s hors du syst\u00e8me bancaire officiel, ne sont absolument pas garantis !\t<\/div>\n<\/div>\n\n<div class=\"container\">\n\t<div class=\"text\" itemprop=\"articleBody\">\n\t\tDe nombreux pr\u00e9teurs ignorent m\u00eame \u00e0 quel projet est associ\u00e9 le pr\u00eat. <em>\u00ab\u00a0Je crois que c\u2019est un esp\u00e8ce de pont mais je ne sais pas o\u00f9\u00a0\u00bb,<\/em> confie un jour un investisseur \u00e0 Andrew Kemp Collier. C\u2019est pourtant un \u00e9l\u00e9ment d\u00e9terminant pour estimer la viabilit\u00e9 d\u2019un placement non garanti. Cette r\u00e8gle s\u2019est rappel\u00e9e brutalement aux cr\u00e9anciers de Xing Libin lorsqu\u2019ils se sont rendu compte avec effarement qu\u2019ils ne r\u00e9cup\u00e9reraient rien.\t<\/div>\n<\/div>\n\n<div class=\"container\">\n\t<h2>Des acteurs trop interd\u00e9pendants<\/h2>\n<\/div>\n<div class=\"container\">\n\t<div class=\"text\" itemprop=\"articleBody\">\n\t\tR\u00e9guler cette activit\u00e9 rel\u00e8ve du num\u00e9ro d\u2019\u00e9quilibriste tant les acteurs sont devenus interd\u00e9pendants. Si les risques sont importants pour la stabilit\u00e9 de l\u2019\u00e9conomie chinoise, le <em>shadow banking<\/em> contribue largement \u00e0 soutenir la croissance par le maintien des niveaux d\u2019investissements. C\u2019est un enjeu politique, car le soutien de l\u2019activit\u00e9 \u00e9conomique aide \u00e0 contr\u00f4ler la hausse du ch\u00f4mage en cours dans le pays. Surtout, il permet de remplir les objectifs de croissance assign\u00e9s par les \u00e9chelons sup\u00e9rieurs.\t<\/div>\n<\/div>\n\n<div class=\"container\">\n\t<div class=\"text\" itemprop=\"articleBody\">\n\t\tLa situation est \u00e9galement t\u00e9nue du point de vue financier. Les 67 Trusts sont partiellement poss\u00e9d\u00e9s par des gouvernements provinciaux qui y ont vu un moyen de s\u2019enrichir. Dans un contexte de \u00ab\u00a0lutte anti-corruption\u00a0\u00bb, certains responsables y ont \u00e9galement vu une source de revenus alternative. En compl\u00e9ment, le soutien de la croissance permet d\u2019assurer d\u2019importantes rentr\u00e9es fiscales. Pour Chen Bo, directeur de l\u2019Universit\u00e9 des Sciences et Technologies de Huazhong, le march\u00e9 de l\u2019immobilier repr\u00e9sente en moyenne 29 % des recettes fiscales des collectivit\u00e9s locales. L\u2019effondrement de ce secteur n\u2019est pas une option.\t<\/div>\n<\/div>\n\n<div class=\"container\">\n\t<h2>Un probable ralentissement forc\u00e9<\/h2>\n<\/div>\n<div class=\"container\">\n\t<div class=\"text\" itemprop=\"articleBody\">\n\t\tSoucieux de ne pas s\u2019exposer \u00e0 des mesures de r\u00e9torsion qui pourraient \u00eatre mises en place, ou tout simplement conscient que les risques sont devenus trop important, certains bailleurs de fonds commencent \u00e0 ne plus r\u00e9injecter leurs gains. Cela ne suffit pas encore \u00e0 ralentir la machine. L\u2019absence, jusqu\u2019\u00e0 pr\u00e9sent, de grosses pertes collectives emp\u00eache les investisseurs de tirer les le\u00e7ons qui s\u2019imposent.\t<\/div>\n<\/div>\n\n<div class=\"container\">\n\t<div class=\"text\" itemprop=\"articleBody\">\n\t\tPour Andrew Kemp Collier, <em>\u00ab\u00a0le gouvernement proc\u00e9dera probablement \u00e0 une r\u00e9forme forc\u00e9e\u00a0\u00bb<\/em>. En Chine, 70 % des d\u00e9penses sociales sont assur\u00e9es par les collectivit\u00e9s locales. Si des collectivit\u00e9s venaient \u00e0 ne pas r\u00e9cup\u00e9rer leur mise de d\u00e9part, ce sont \u00e0 la fois des pans entiers de l\u2019\u00e9conomie, dont les secteurs sous assistance respiratoire publique (y compris les nombreuses entreprises d\u2019\u00c9tat non rentables), mais \u00e9galement le syst\u00e8me de protection sociale qui s\u2019\u00e9crouleraient simultan\u00e9ment. L\u2019effet ciseaux entre une explosion du ch\u00f4mage et une implosion du syst\u00e8me social serait terrible. Le co\u00fbt social, donc politique, serait immense et P\u00e9kin ne le tol\u00e9rerait pas.\t<\/div>\n<\/div>\n\n<div class=\"container\">\n\t<div class=\"text\" itemprop=\"articleBody\">\n\t\t<strong>Par Vivien Fortat<\/strong>\t<\/div>\n<\/div>\n\n<div class=\"large large\" style=\"background-color:#007DB0;\">\n\t<div class=\"container\">\n\t\t<div class=\"sub-article\">\n\t\t\t<h2>Pour aller plus loin<\/h2>\n\t\t\t<p>&#8211; Douglas Elliott, Arthur Kroeber, Yu Qiao, <em>Shadow Banking : A primer,<\/em> Brookings Institution, 2015.<\/p>\n<p>&#8211; Andrew Kemp Collier, <em>Shadow Banking and the Rise of Capitalism in China,<\/em> Palgrave Macmillan, 2017.<\/p>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<div class=\"container\">\n\t<div class=\"text\" style=\"background:#d9463d; padding:20px 20px 30px 20px; text-align:center; border-radius:8px;\">\n\t\t<h3 style=\"color:#fff; font-weight:700;\">Soutenez-nous !<\/h3>\n\t\t<p style=\"color:#fff; font-size:0.8em; line-height:1.5em; margin-bottom:30px;\">Asialyst est con\u00e7u par une \u00e9quipe compos\u00e9e \u00e0 100 % de b\u00e9n\u00e9voles et gr\u00e2ce \u00e0 un r\u00e9seau de contributeurs en Asie ou ailleurs, journalistes, experts, universitaires, consultants ou anciens diplomates... Notre seul but : partager la connaissance de l'Asie au plus large public.<\/p>\n\t\t<a href=\"https:\/\/www.helloasso.com\/associations\/les-amis-d-asialyst\/formulaires\/1\" target=\"_blank\" style=\"display:inline; background:#fff; padding:10px 25px; font-weight:700; border-radius:4px; color:#000; font-size:0.9em;\">Faire un don<\/a>\n\t<\/div>\n<\/div>\n<div class=\"container\">\n\t<div class=\"tags\">\n\t\t<h5>Tags de l'article<\/h5>\n\t\t<ul><li><a href=\"https:\/\/asialyst.com\/fr\/tag\/asie-du-nord-est\/\" rel=\"tag\">Asie du Nord-Est<\/a><\/li><li><a href=\"https:\/\/asialyst.com\/fr\/tag\/chine\/\" rel=\"tag\">Chine<\/a><\/li><li><a href=\"https:\/\/asialyst.com\/fr\/tag\/finance\/\" rel=\"tag\">finance<\/a><\/li><li><a href=\"https:\/\/asialyst.com\/fr\/tag\/regards\/\" rel=\"tag\">Regards<\/a><\/li><\/ul><ul>\t<\/ul><\/div>\n<\/div>\n\n\t\t<div class=\"social-sharing ss-social-sharing\">\r\n\t\t\t\t        <a onclick=\"return ss_plugin_loadpopup_js(this);\" rel=\"external nofollow\" class=\"ss-button-facebook\" href=\"http:\/\/www.facebook.com\/sharer\/sharer.php?u=https%3A%2F%2Fasialyst.com%2Ffr%2F2017%2F04%2F28%2Fchine-shadow-banking-bombe-retardement%2F\" target=\"_blank\">Share on Facebook<\/a><a onclick=\"return ss_plugin_loadpopup_js(this);\" rel=\"external nofollow\" class=\"ss-button-twitter\" href=\"http:\/\/twitter.com\/intent\/tweet\/?text=Chine+%3A+le+%22Shadow+Banking%22%2C+la+bombe+%C3%A0+retardement&url=https%3A%2F%2Fasialyst.com%2Ffr%2F2017%2F04%2F28%2Fchine-shadow-banking-bombe-retardement%2F&via=asialyst\" target=\"_blank\">Share on Twitter<\/a><a onclick=\"return ss_plugin_loadpopup_js(this);\" rel=\"external nofollow\" class=\"ss-button-linkedin\" href=\"http:\/\/www.linkedin.com\/shareArticle?mini=true&url=https%3A%2F%2Fasialyst.com%2Ffr%2F2017%2F04%2F28%2Fchine-shadow-banking-bombe-retardement%2F&title=Chine+%3A+le+%22Shadow+Banking%22%2C+la+bombe+%C3%A0+retardement\" target=\"_blank\">Share on Linkedin<\/a><a onclick=\"return ss_plugin_loadpopup_js(this);\" rel=\"external nofollow\" class=\"ss-button-pinterest\" href=\"http:\/\/pinterest.com\/pin\/create\/button\/?url=https%3A%2F%2Fasialyst.com%2Ffr%2F2017%2F04%2F28%2Fchine-shadow-banking-bombe-retardement%2F&media=https%3A%2F%2Fasialyst.com%2Ffr%2Fwp-content%2Fuploads%2F2017%2F04%2Fchine-monnaie-yuan-finance-ombre-300x198.jpg&description=Chine+%3A+le+%22Shadow+Banking%22%2C+la+bombe+%C3%A0+retardement\" target=\"_blank\">Share on Pinterest<\/a>\t        \t    <\/div>\r\n\t    \n<div class=\"container\">\n\t<div class=\"auteurs-a-propos\">\n\t\t<h5>A propos de l'auteur<\/h5>\n\t\t\t\t\t<div class=\"author\">\n\t\t\t\t<img data-del=\"avatar\" src='https:\/\/asialyst.com\/fr\/wp-content\/uploads\/2021\/02\/purple-clouds-palace-150x101.jpg' class='avatar pp-user-avatar avatar-150wp-user-avatar wp-user-avatar-150 photo ' height='150' width='150'\/>\t\t\t\t<div class=\"infos\">\n\t\t\t\t\t<div class=\"name\">\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/asialyst.com\/fr\/auteur\/vivienfortat\/\">\n\t\t\t\t\t\t\tVivien Fortat\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div class=\"description\">\n\t\t\t\t\t\tVivien Fortat est sp\u00e9cialis\u00e9 sur les questions \u00e9conomiques chinoises et les \"Nouvelles routes de la soie\". Il a r\u00e9sid\u00e9 pendant plusieurs ann\u00e9es \u00e0 Tokyo et Taipei. Docteur en \u00e9conomie, il travaille comme consultant en risque entreprise, notamment au profit de soci\u00e9t\u00e9s fran\u00e7aises implant\u00e9es en Chine, depuis 2013.\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t<\/div>\n<\/div>\n<div class=\"block3news\">\n\t<div class=\"container\">\n\t\t<div class=\"recommand\">\n\t\t\t<h5>On vous recommande<\/h5>\t\t\t<ul class=\"row\">\n\t\t\t\t<li class=\"col-md-12 col-sm-12 col-xs-12 news\"><a href=\"https:\/\/asialyst.com\/fr\/2017\/04\/28\/chine-shadow-banking-bombe-retardement\/\"><span class=\"photo\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"400\" src=\"https:\/\/asialyst.com\/fr\/wp-content\/uploads\/2017\/04\/chine-monnaie-yuan-finance-ombre-600x400.jpg\" class=\"img-responsive wp-post-image\" alt=\"Si le &quot;shadow banking&quot; ou &quot;finance de l&#039;ombre&quot; s&#039;effondrait, des pans entiers de l&#039;\u00e9conomie chinoise seraient menac\u00e9s. (Cr\u00e9dits : AFP PHOTO\/FRANKO LEE)\" srcset=\"https:\/\/asialyst.com\/fr\/wp-content\/uploads\/2017\/04\/chine-monnaie-yuan-finance-ombre-600x400.jpg 600w, https:\/\/asialyst.com\/fr\/wp-content\/uploads\/2017\/04\/chine-monnaie-yuan-finance-ombre-300x200.jpg 300w, https:\/\/asialyst.com\/fr\/wp-content\/uploads\/2017\/04\/chine-monnaie-yuan-finance-ombre-900x600.jpg 900w, https:\/\/asialyst.com\/fr\/wp-content\/uploads\/2017\/04\/chine-monnaie-yuan-finance-ombre-1280x853.jpg 1280w, https:\/\/asialyst.com\/fr\/wp-content\/uploads\/2017\/04\/chine-monnaie-yuan-finance-ombre-1600x1067.jpg 1600w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/span><span class=\"info\"><span class=\"metadata category category-\">Economie<\/span><h4>Chine : le \"Shadow Banking\", la bombe \u00e0 retardement<\/h4><\/span><\/a><\/li>\t\t\t<\/ul>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<div class=\"container\">\n\t<div class=\"comments\">\n\t\t\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>De nombreuses entreprises en Chine se tournent vers des cr\u00e9anciers hors r\u00e9gulation bancaire. Un effondrement de ce syst\u00e8me menacerait l&rsquo;\u00e9conomie.<\/p>\n","protected":false},"author":642,"featured_media":29682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[23,22,288,194],"class_list":["post-29677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economie","tag-asie-du-nord-est","tag-chine","tag-finance","tag-regards"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Chine : le &quot;Shadow Banking&quot;, la bombe \u00e0 retardement - Asialyst<\/title>\n<meta name=\"description\" content=\"De nombreuses entreprises en Chine se tournent vers des cr\u00e9anciers hors r\u00e9gulation bancaire. 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