Included in many private and national interest

It is one of those paradoxes that the Russia has the secret. A phenomenon without equal. Renationalisation nor néo-privatisation, but a mix of these two methods. A "neither - nor" Russian which, for three years, introduces in a dizzying opacity "bureaucratic capitalism". A coups expropriations of tax intimidation, even physical, mergers, capital increases, the major companies operating in strategic as the energy sectors, mining and metals, the weapons are to "consolidate". Under the aegis of a class of very specific entrepreneurs, of "oligarchs-clerk of the State" from the KGB. Their mission Be six or seven "champions" in the service of the Russia. Translate: which cede to the temptation to illegally export capital and pay their taxes Ruby on the nail to the renovation of infrastructure and decrepit social services... Champions able to compete with the majors, sources so pride for a population which still has memory humiliation at the end of the Soviet regime, devaluation of the ruble and the IMF credits use.

Accelerated consolidation

It is clear that the State rises dramatically in the economy. It now controls one-third of the oil production from 10 in 2003. This via Rosneft, recipient of the expropriation of Yukos, and subsidiaries of the Gazprom gas, which notably acquired Sibneft last year. Similarly, Rosoboronexport, the State arms export monopoly, put the hand in 2005 on Kamov, one of the two domestic helicopter producers, then, for a bite of bread, on the number one national automobile, Avtovaz, constructor of the Lada and the famous Zhiguli, these clones of Fiat 127, which were once almost any fleet. A few weeks ago, Rosoboronexport has also become the reference shareholder of VSMO, only domestic producer of titanium and major supplier of Airbus. The State has also set up in the capital of the national monopolies of the diamond, Alrosa, which could to acquire of an another monopoly, Norilsk Nickel, controlled by Vladimir Potanin, one of the last four oligarchs of the era Yeltsin to be in prison or in exile.

Vladimir Poutine has often repeated that he would not return on the privatizations of sinister memory, 1995. Yet that is what is happening quietly for three years. However, the policy of renationalisation is not systematic. Sometimes even the public sector it opens to the private sector. Through wagering on the market, like that of Rosneft in July, which the Kremlin says, without really convinced that it will be fully privatized within three years. And through measures such as suppression, last year, of the Covenant which prohibited foreigners to hold online actions of Gazprom. Other introductions on the stock exchange are in the program, particularly in electricity. "In fact, warns Fedor Lioukanov, analysis centre"Russia in world politics", do not understand this phenomenon in ideological terms, public against private." The State can be temporary Portage of shares on behalf of private interests, or vice versa. He is creating huge fair companies, related to the State, but not necessarily owned by him. "Included in many private and national interest.

Logic of vertical integration

The project is to "establish lasting almost single-party dominance in the political field and to create private conglomerate related to the State, as are the South Korean chaebols," summarizes Fedor Lioukanov. To see that "this feeds in general corruption and that the chaebol have poorly finished." In Russia, these "mega concerns" will have role completely dominate their domestic markets. The list is to be drawn up on a corner of the table, it is in what Sergei Markov, close political scientist of the theses of the Kremlin. "Gazprom in gas, Rosneft after absorption of Lukoil and Surgut oil, aluminum, Alrosa in diamond, Rosoboronexport arms and aviation Roussal, Sberbank and Vneshtorgbank more may be a third facility in the Bank, the Group of Abramovich in the metallurgy.". Seven behemoths, almost seven monopolies. And the car "The cars, it is not yet sure that they meet this logic..." ", slice.

Because there are economic, simplistic, but coherent doctrine that favors the vertical integration where the Russia has obvious comparative advantages behind this movement. That is, a historical tradition, the metallurgy, armaments and especially the basement as in gas, oil, diamonds, copper, nickel, uranium, iron, rare metals, the country in fact Siberia figure to the first or second in the world in terms of reserves. He comes to "recover" for the benefit of a single player value added dispersed between upstream and downstream, and to control the entire chain, there where "the critical size is above all" and is the only way to exist in a global marketplace. Without being alone by a competition including Sergei Markov on the other hand recognizes the virtues in research and high technology, hence the lack of the mobile in the list of the Kremlin, since, in the eyes of the latter, the Russia lack of assets in the material. Diagnosis surprising in a country where it meets an engineer at every street corner.

"An obese at the Olympic Games."

This speech based on mixed economy, voluntarism, industrial policy for the general interest was what seduce a French spirit. Indeed, the acolytes of the Kremlin often cite De Gaulle and Napoleon. But this doctrine is also open to severe criticism. Such as Michael Porter, the Institute for strategy and competitiveness at Harvard, who recently said at a symposium organized by a "think tank" Moscow, "the theory of national champions died, no one is seriously believes outside the Russia." Adding that the current concentration in natural resources undermines competitiveness. Because, in the image of the canon of the Kremlin so large that it never succeeded to get a shell, can fear that mastodons in the process of constitution do not keep their promises. The example of a Rosneft, whose production is almost, stagnant or a Gazprom investing little in the exploration and pipeline installation costs are unusually high even taking into account a thankless and geography. "If the priority of the country is the bureaucratic capitalism, there is a risk of experiencing much more bureaucracy and capitalism", across an observer. Development Minister German Gref acknowledged one that "anyone does think align an obese at the Olympic Games." But it seems well isolated Government.

Can still objected that these giants will stifle the other sectors of the economy, monopolizing talents and financial resources, or that they abuse their power at the expense of their clients, including SMEs, already unusually few in Russia. That refutes Al Breach, analyst of the brokerage firm UBS, convinced that "the ambient speech on the necessary diversification of the economy is an absurdity" and "must be what it is good, where it has comparative advantages, the rest of the waste of resources".

The obsession of the control

But this vertical integration, in reverse of what is practised almost everywhere elsewhere in the world and reminiscent of the "power vertical" implemented by Vladimir Putin, in clear authoritarianism, seems especially inspired by the fear of not being able to control everything. As an echo of the Soviet era where large companies had their own power plant, mines and farms to escape the system failures. "These are wonks of the control, fun Konstantin Simonov, the national fund of energy security, which is normal for the KGB from types where all unexpected is threat, any competition disorder.". An in fact pervasive KGB in the staff of existing or future national champions. Hence the question: the discourse on the national interest and the "strategic consolidation" is not only a curtain of smoke If it is not in fact allow a handful of Vladimir Putin's, moreover without large industrial experience, to appropriate the wealth of the country sole discretion.