American Miracle? Dream on …

Published in La Tribune
(France) on 6 January 2012
by Eric Walther (link to originallink to original)
Translated from by Rachel Towers. Edited by Jenette Axelrod  .
Specialists have long since formalized it: America will get out of whatever it falls into and will emerge from any crisis “stronger than ever.” The cliché seems to have faded away. What haven’t we heard this past summer about this economy hit with extravagant financial scandals, agitated in the face of a galloping globalization and destroying entire parts of its industry? What haven’t we touched on this side of the Atlantic about the somber future of a tired superpower-turned-simple consummation machine and creator of deficits? The descent into the hells of automobile makers constituted a formidable symbol of this hopelessness — GM's failing, Chrysler being taken over by Fiat after its umpteenth quasi-disappearance ...

And there you have it: The American car is looking awesome. Certainly, a lot of work has been done. Detroit’s factories have spent a lot of money on relocations. These are the huge 4x4s that are leading the market, to the contempt of all the environmental restrictions the Big Three will one day have to truly take into account. But the essential is elsewhere. An essential that the followers of this “formidable America who will never stop giving us lessons” forget too easily: This is America with its more than 300 million consumers who are both wealthy and share a common culture. It is a situation still unique in a world that generates considerable large-scale effects. The impact of a 5 percent increase in a market of over 12 million vehicles is another thing entirely than the “small” French market (2 million). The dream of a large, unified European market has fed itself on this American miracle. The story is far from being anywhere close to that.



Les spécialistes ont longtemps été formels : l'Amérique s'en sort quoi qu'il advienne et émerge d'une crise "plus forte que jamais". Le cliché semblait avoir jauni. Que n'a-t-on entendu cet été sur cette économie minée par des dérives financières délirantes, désemparée face à une mondialisation galopante et détruisant des pans entiers de son industrie ? Que n'a-t-on asséné de ce côté de l'Atlantique sur le sombre avenir d'une superpuissance fatiguée, devenue une simple machine à consommer et à créer des déficits ? La descente aux enfers de ses constructeurs automobiles constituait un formidable symbole de cette désespérance. GM en faillite, Chrysler repris par Fiat après sa énième quasi-disparition...

Et voilà que la bagnole américaine pète à nouveau la forme. Certes, beaucoup de ménage a été fait. Les usines de Detroit ont payé cher les vagues de délocalisations. Et ce sont les gros 4×4 qui tirent le marché, au mépris de toutes les contraintes environnementales que les Big Three devront bien un jour réellement prendre en compte. Mais l'essentiel est ailleurs. Un essentiel que les apôtres de cette "formidable Amérique qui ne cessera jamais de nous donner des leçons" oublient trop facilement : cette Amérique, c'est aussi et surtout 300 millions de consommateurs riches et de culture commune. Une situation encore unique au monde qui génère des effets d'échelle considérables. L'impact d'une progression de 5% sur un marché de 12 millions de véhicules, c'est autre chose que sur le "petit" marché français (2 millions). Le rêve d'un grand marché européen unifié s'était bien évidemment nourri de ce miracle américain. L'histoire est loin d'en être là.
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