Macron calls for Chinese investment in Europe after returning home
French President Macron has just concluded a four-day visit to China and, upon returning home, continues to call on China to increase its investment, offering assistance to European industry facing a "crisis of survival."
According to reports from Politico EU and Reuters, on December 7 local time, Macron made the above statements during an interview with French media. He said that European industry is at a critical moment, squeezed by the strong competitiveness of China and the protectionism of the United States. He claimed that China should rescue Europe through foreign investment.
In recent times, EU leaders such as Macron have been hyping up issues such as the China-EU trade deficit and so-called "overcapacity," urging China to invest more.
However, data show that actually, since 2022, the EU's trade deficit with China has generally been declining, and it decreased by 27% in 2023. Jia Guide, Chinese Ambassador to Italy, recently stated that the current EU trade deficit with China is the result of a combination of factors such as the macroeconomic environment, industrial structure, changes in demand, and international trade conditions between China and the EU. Moreover, the EU maintains a service trade surplus with China, and the market space in China is continuously expanding.
"The Chinese must do what Europeans did in China 25 years ago, invest in Europe," Macron continued, claiming that the huge trade deficit between China and France, as well as between China and the EU, is "unsustainable." "They do not import heavily from us, which is actually killing their own customers."
Macron said: "We acknowledge that they are very good in certain areas. But we cannot keep importing. Chinese companies must come to Europe, just like EDF and Airbus did before when they went to China, to create value and opportunities for Europe."
Macron said that the pillars of European industry are under threat. According to him, China is hitting the core of European industry and innovation models. The protectionism of the Trump administration has exacerbated this pressure. "Now we are in a dilemma, and it is a matter of life or death for European industry. We have become the ones adjusting the market, which is the worst situation."
Original article: toutiao.com/article/1850923878898698/
Statement: This article represents the views of the author."