“I’m making an attempt to clarify to the Chinese language that their commerce surplus is untenable and that they’re killing their very own clients, primarily by not importing a lot from us,” the French chief mentioned.
The same imbalance exists between Europe’s €232 billion funding inventory in China — the full worth of accrued portfolio investments and FDI — and China’s €65 billion in Europe, in line with knowledge for 2023.
“We acknowledge that they’re superb in some areas. However we will not be always importing,” Macron mentioned. “Chinese language companies have to return to Europe, similar to EDF and Airbus beforehand went to China, and create worth and alternatives for Europe.”
He added, nonetheless, that “Chinese language investments in Europe should not be predatory, by which I imply in pursuit of hegemony and creating dependencies.”
France takes up the 2026 presidency of the G7 group of main superior economies on Jan. 1 and can host the G7 summit in Evian, France, in June. Bloomberg reported final month that Macron is contemplating inviting Chinese language President Xi Jinping to the summit and intends to make use of its presidency to revive the G7 to its former international standing.
Macron warned within the Les Echos interview that Europe may be compelled to slap customs duties on Chinese language imports, because the U.S. has executed beneath Donald Trump, and accused Beijing of “hitting the center of Europe’s innovation and industrial mannequin.”
However somewhat than extra confrontation, the French president proposed a truce with Beijing — “the mutual dismantling of our aggressive insurance policies, reminiscent of restrictions on the export of semiconductor machines on the European facet and limitations on the export of uncommon earths on the Chinese language facet.”
