Emmanuel Macron has home-field advantage at the ongoing G7 summit in the resort town of Évian-les-Bains, and the French president wants the participating countries to help him address Chinese trade. But while China isn’t a G7 member, it has an advantage of its own, given its power in the global trade market. So Macron may have to perform a delicate balancing act.
What did the commentators say? The French president expects the G7 nations to “converge on the need to tackle a flood of subsidized Chinese exports that’s disrupting global markets,” said Politico. But it’s becoming increasingly clear that “credible action is one deliverable he won’t be able to land.” Macron is pushing for Europe and the U.S. to come together for a solution, but meetings are “unlikely to deliver answers.”
The problem is two-pronged: Beijing is “curling its lip” at Macron, while Europe and the U.S. are “diverging on how to contain China’s $1.2 trillion trade surplus,” said Politico. Macron wants the EU to present a unified front on China, and Europe has “made strides on its China policy since the Covid-19 pandemic” but “still struggles to align internally,” said the Chicago Council on Global Affairs.
France and Macron’s ultimate goal is to “make the reduction of global imbalances and inequalities the priority and position the G7 as a space for dialogue among the major advanced industrialized democracies,” said the Chicago Council. Macron also believes that talks between China and France “signal a ‘new willingness’ by China, the U.S. and Europe to coordinate economic approaches,” said Bloomberg. President Donald Trump, however, appears “ready to use the G7 stage to berate allies for what he views as inadequate support,” said the Council on Foreign Relations.
What next? The Évian-les-Bains summit will be Macron’s last, as his term expires in 2027. The U.S. is hosting next year’s G7 summit. China, meanwhile, maintains that it’s ready and willing to engage in economic cooperation with the EU, said Bloomberg, even as these discussions come “against the backdrop of talks in Europe over possible new restrictions to counter China’s export surge.”
|