Story perspectives

Macron pushes G7 to curb China, Europe surpluses

6/13/2026

Left

Macron Calls Action

France is leveraging its G7 presidency to spotlight widening global trade and capital imbalances that threaten financial stability.
President Emmanuel Macron urged coordinated action on global economic imbalances at the G7 summit.
China's current-account surplus hit US$735 billion, driven by export growth, subsidies and a weak currency.
Europe's surplus stems from high savings and low investment, prompting calls to fund productive projects.

Right

Macron Leads Coordination

A video conference will unite China, the United States and Europe in a newly declared willingness to coordinate economic policies.
French President Emmanuel Macron will chair the June 11 video meeting with G-7 members and invited nations to address economic imbalances.
Participants include Brazil, South Korea, India, Kenya, Egypt, China and the International Monetary Fund.
Macron’s office says the G-7 will assign imbalance responsibility and feed into week’s Evian summit.

History

Historical Context

The 1985 Plaza Accord—signed by the United States, Japan, West Germany, France and the United Kingdom—drove the dollar down about 30% against the yen and trimmed the U.S. trade deficit by $50 billion in two years. Its success led to the 1987 Louvre Accord to stop further dollar falls. Macron’s G7 video summit with China and the United States revives that coordinated-policy spirit.

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Macron Calls Action

France is leveraging its G7 presidency to spotlight widening global trade and capital imbalances that threaten financial stability.
President Emmanuel Macron urged coordinated action on global economic imbalances at the G7 summit.
China's current-account surplus hit US$735 billion, driven by export growth, subsidies and a weak currency.
Europe's surplus stems from high savings and low investment, prompting calls to fund productive projects.

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