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Sovereign Wealth Funds : a Strategy for France ? The rise of SWFs is an irreversible phenomenon. This is because it flows from two deep seated trends : namely rising raw materials prices, and the structural nature of current account surpluses. Similarly, the emergence of sovereign wealth funds (SWFs) as front-rank investors, and in particular as significant shareholders of large western firms, is the logical consequence of the diversification of their assets. The issue for France is to assess this phenomenon without preconceptions, in order to make the most -for its economy and its businesses -of a process still only in its infancy.
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Alain Demarolle (2009) studied this question.
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