Macron wants to involve China in a dialogue with the G7 on trade imbalances
French President Emmanuel Macron plans to organize a video conference between the G7 countries and China to discuss the issue of global trade imbalances. The online meeting could take place on June 11, on the eve of the G7 leaders’ summit, which France will host next week.
According to sources, the initiative will be an important step for the G7, which has taken an increasingly tough stance toward China in recent years.
At the same time, during its presidency of the G7, Paris is emphasizing the search for compromises and cooperation in the field of international trade.
France believes that the causes of current economic imbalances are linked not only to overproduction in China, but also to insufficient investment in Europe and excessive consumption in the United States. That is why Paris is calling for a move away from the policy of mutual recriminations.
Earlier, French representative Roland Lescure stated that the country seeks to establish a constructive dialogue with all partners, including China.
Macron has long been trying to develop cooperation with Chinese President Xi Jinping. French diplomats have been working for several months to ensure that China participates in some form in the discussions at the upcoming G7 summit.
At the same time, U.S. President Donald Trump has also recently softened his rhetoric toward Beijing, expressing a positive view of the prospects for trade relations between the world’s two largest economies.
It has not yet been definitively determined at what level the countries will participate in the video conference, but several world leaders are expected to be involved.
The European Commission generally welcomed France’s attempt to engage China in dialogue but expressed doubts about the chosen format. One European official noted: “The G7 is perceived as anything but a neutral party. China would be happy if the G7 softened its rhetoric, but not at the cost of acknowledging that their (overproduction—ed.) is a problem.”
The issue of global trade imbalances is expected to be one of the key topics at the upcoming G7 summit in France.
Politico reports this, citing officials from three G7 member countries.
French President Emmanuel Macron plans to organize a video conference involving the G7 countries and China to discuss global trade imbalances.
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