One does not become an international financial place in a single day. Shanghai is now becoming aware of it. Chinese leaders, facing the collapse of financial markets seem to have trouble finding the right attitude as they are used to be always in control of the situation. But markets do not work like that. However, the way international media rejoice themselves while reporting the fall of the stock exchanges in Shanghai and Shenzhen and implying against all odds, that the economic and political consequences would weaken the country, is suspect.

(Almost) nobody predicted the Chinese “Thirty Glorious”. Whenever the country ...

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For once, the final statement of Aix Economic Forum – bringing together hundreds of business leaders, economists and journalists from July 3 to July 5 – sparked controversy. Point n°6 recommended to essentially cut taxes on the wages that are lower than 1.6 times the minimum wage while the measures announced by the government with the CICE in 2014 and the “Responsibility Pact” apply to wages up to 3.5 times the SMIC. One could also include in this debate the Research Tax Refund (CIR) that also has a very wide base and whose tax incentive covers salary expenditures that ...

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L’Agence France Trésor a publié ce matin son indicateur quotidien du taux d’intérêt à dix ans sur la dette française. Il est inchangé à 1,22% par rapport aux taux observés à la fin de la semaine dernière et inférieur de 12 points de base au niveau atteint le 11 juin. Ainsi, au plus fort de la crise européenne consécutive au refus du gouvernement grec de se soumettre aux injonctions, justifiées ou non, de ses créanciers, et d'en appeler à un référendum, la confiance des marchés financiers ...

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