Macron’s brutal analysis of the European financial system | EUROtoday
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DReturning from his fourth official journey to China, the French president launched probably the most direct risk ever made to Beijing. “I am trying to explain to the Chinese that their trade surplus is not sustainable because they are killing their own customers, in particular by importing more from us,” says the President of the Republic in The Echoes. “I instructed them that if they didn’t react, we Europeans could be pressured, within the coming months, to take sturdy measures and de-cooperate, just like the United States, reminiscent of customs duties on Chinese merchandise. » The president has already mentioned it with Ursula von der Leyen. The tone is ready.
The double lure that’s suffocating Europe
Between the American hammer and the Chinese anvil, Europe is toasting. Trump’s tariffs divert Chinese exports to the European market, which turns into the worldwide “adjustment market.” “The American response is inappropriate and increases our problems,” asserts the French president.
Consequence: “China is hitting the heart of the European industrial and innovation model, historically based on machine tools and automobiles. » Batteries, wind power, photovoltaics, electric vehicles, heat pumps, robotics… everything goes. For Emmanuel Macron, it is “a question of life or death”.
The Macron revolution: reverse funding flows
His shock answer: carry within the Chinese en masse to provide in Europe, however with obligatory expertise transfers, precisely as EDF and Airbus did in China twenty-five years in the past. “Chinese companies must come to European soil, create value and opportunities for Europe,” he explains, citing round ten strategic sectors (batteries, lithium, photo voltaic, recycling, robotics, and many others.). Be cautious, nonetheless: these investments “must not be predatory” or create new dependencies.
Another demand made in the course of the interview: Beijing should open its inside market, decrease its limitations and increase its consumption. In change, Europe is able to carry sure restrictions, reminiscent of these on semiconductor machines, if China stops its limitations on uncommon earths.
Pressure on the ECB and name for unity
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At residence, Emmanuel Macron additionally hits Frankfurt. The present financial coverage, which is just too inflexible, is pushing up the euro and long-term charges. “It seems to me that it can be clearly adjusted today,” he says, calling for a development and employment goal along with inflation. “Revaluing the European internal market means that we cannot have inflation as our only objective, but also growth and employment. » He also wants a real European preference, the completion of the single market, massive investments in innovation and, ultimately, common European obligations to finance defense and tech.
Germany, still very established in China, “is moving but is not completely on our line”, he admits. However, time is operating out. Without a fast frequent entrance and with out rebalancing with Beijing, Europe dangers fracturing and seeing its historic trade merely wiped off the map by the Chinese steamroller.
https://www.lepoint.fr/politique/la-chine-tue-ses-clients-le-diagnostic-brutal-de-macron-sur-l-economie-europeenne-07-12-2025-2604860_20.php