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France says it is breaking with Washington over relations with Beijing

by SuperiorInvest

French Economy and Finance Minister Bruno Le Maire spoke at a CNBC panel in Davos.

Ludovic Marin | Afp | Getty Images

DAVOS, Switzerland — The European Union does not see eye to eye with the United States when it comes to opposition to China, France’s finance minister told CNBC on Friday.

Speaking on a panel at the World Economic Forum in Davos, Switzerland, looking at the economic outlook, France’s Bruno Le Maire said: “China cannot be out, China must be in. That is the difference we have between the US and Europe.” .”

“We don’t want to oppose China, we want to engage with China, we want China to follow the same rules,” he said, “this is our policy.”

The United States has taken a confrontational approach with China, especially when it comes to the technology sector. However, the European Union has struggled to find a balance between its political friendship with the US and its economic ties with China.

Although European officials have said China is a strategic rival, they also acknowledge they want to develop trade ties with Beijing and cooperate on climate change.

French President Emmanuel Macron is reportedly planning a trip to China in the coming weeks to discuss energy and trade, as well as the wider implications of Russia’s invasion of Ukraine.

Data from the European Statistics Office showed that China was the EU’s third largest export partner for goods and the largest import partner in 2021.

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