French President Emmanuel Macron recently made headlines by calling for a reset of economic ties with China. As Chinese President Xi Jinping prepares to visit France, the stakes are high. Here’s what you need to know about this crucial development.
The Current Situation
Europe has long maintained economic relations with China, but Macron emphasizes the need for more reciprocity. He points out that China exports massively to Europe, while Europe faces challenges in accessing the Chinese market. Macron’s call for an “aggiornamento” (an update) aims to address this imbalance.
Key Issues
Excessive Subsidies: The European Union has been investigating China’s excessive subsidies, which distort fair competition.
Spying and Cyberattacks: Accusations of spying and statesponsored cyberattacks have strained relations.
Investment: Macron seeks Chinese investment, but also defends Europe’s role as a balancing power.
Balancing Act
Macron clarifies that he isn’t proposing to distance Europe from China. Instead, he believes Europe can play a crucial role in global discussions on climate and safety. “We need the Chinese,” he asserts.
As Xi Jinping’s visit approaches, the reset of economic ties remains a critical topic. Europe’s delicate balancing act will shape the future of these relations.