In the runup to the G7 summit, hosted by France in Évian-les-Bains on Monday, 15 June, China has addressed global economic balances in a videoconference hosted by French President Emmanuel Macron. It is a rarity for Beijing to engage directly with the group.
G7 countries are expected to discuss how to respond to the growing volume of low-priced Chinese exports entering their markets at the conference.
Macron has named the upcoming summit Global Convergence for Growth, where leaders, along with China and representatives from other major economies, their views on trade, investment and global market stability.
The videoconference helped clarify Beijing’s priorities for the meeting: Chinese Vice Premier Zhang Guoqing called for a free and convenient trade environment and said countries should take an objective view of each other's comparative advantages.
He added that China would continue to expand its efforts to open up economically and share development opportunities with other countries to bring stability to the world.
Beijing's position, in short, is that its manufacturing competitiveness reflects legitimate economic strengths rather than unfair practices which - a view that not all of its trading partners share.
Macron has been using France's G7 presidency to push for cooperative solutions to what he describes as global economic imbalances, with China producing too much, the United States consuming too much, and Europe investing too little.
French officials said the conference call was part of an effort to engage Beijing constructively before the European Union decides whether to tighten its trade policy toward China. EU leaders are scheduled to meet immediately after the G7 summit, with China expected to feature prominently on the agenda.
A major context to all of this is a Europe that is genuinely divided on how to handle its relationship with China. Germany, Europe's largest trading economy, has long been cautious about imposing tariffs on China given how much it exports there.
But as Chinese carmakers increasingly compete with German manufacturers, some German lawmakers have begun pushing for a firmer approach. Other EU members, meanwhile, have been more willing to consider imposing protective measures, and the gap between those positions has made a unified European response difficult to agree on.
Macron met with Xi Jinping in Beijing in December, where he told the Chinese president that Beijing should help rebalance economic relations cooperatively, or Europe would have little choice but to move toward more protectionist measures.
This call was a follow-up to that conversation - an attempt to keep dialogue open and give China a seat at the table before harder decisions are made at the summit.
Since December, Beijing has received leaders from five G7 nations for high-level meetings, an indication that both sides are paying close attention to what comes next.
Pakistan has called on Afghanistan’s Taliban authorities to crack down on militants operating from Afghan territory, warning that cross-borde...
Ukrainian President Volodymyr Zelenskyy says Russia hit at least six energy targets in deadly strikes across Ukraine, showing Moscow is unwilling t...
Saudi Arabia has vowed to remain resilient after a wave of Houthi missile and drone attacks killed around 20 people at Riyadh's main airp...
One person was killed and nearly a dozen hurt in a fresh attack on Riyadh's international airport on Sunday, Saudi authorities reported, a day after a strike claimed by Yemen's Houthis killed 13 people and wounded more than 300.
The Saudi-led coalition in Yemen said late Monday that it intercepted and destroyed two ballistic missiles launched by the Houthi group toward Khamis Mushait in southwestern Saudi Arabia.
The Houthi movement has escalated their attacks on Saudi Arabia, targeting the airport in Riyadh and other cities, killing more than a dozen people.
The Kremlin on Monday rejected a 60-day ceasefire idea proposed by Ukrainian President Volodymyr Zelenskyy to allow his country to hold presidential elections, saying it wanted an overall peace deal instead.
Ukrainian President Volodymyr Zelenskyy says Russia hit at least six energy targets in deadly strikes across Ukraine, showing Moscow is unwilling to accept the energy ceasefire announced by U.S. President Donald Trump.
Ukrainian President Volodymyr Zelenskyy says Russia hit at least six energy targets in deadly strikes across Ukraine, showing Moscow is unwilling to accept the energy ceasefire announced by U.S. President Donald Trump.
Climate activist Greta Thunberg joined high school students protesting outside a school in the Paris suburb of Saint-Denis on Tuesday, as a wave of student demonstrations continues across France.
North Korean leader Kim Jong Un has visited a newly opened defence museum displaying weapons developed under his leadership, including an intercontinental ballistic missile capable of reaching the United States.
Southeast Asian foreign ministers are set to discuss measures to tackle transboundary haze during preparatory meetings ahead of the ASEAN summit in November, as forest and land fires in Indonesia continue to affect air quality across the region, the Philippines said on Tuesday.
Britain's Prime Minister Andy Burnham has said the United Kingdom believes Iran was likely behind an alleged plot connected to RAF Fairford, a military airbase in Gloucestershire in England that has played a role in U.S. operations against Iran, escalating tensions between London and Tehran.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment