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French Minister: Economic separation from China is an "illusion"

2023-07-30 10:32:08, Kosova & Bota CNA
French Minister: Economic separation from China is an "illusion"
The Minister of Finance in France, Bruno Le Maire

The Minister of Finance in France, Bruno Le Maire, said during a visit to Beijing on Sunday that the severing of all economic ties with China is an "illusion".

He made these statements as many Western countries try to reduce their dependence on the Asian giant.

"We completely oppose the idea of ??secession. Separation is an illusion," Le Maire told reporters at the French Embassy.

"There is no possibility that there will be any separation between the American, European and Chinese economies."

However, he has defended France's ambition to become more independent in some sectors, but added that the concept of risk reduction - which has become a buzzword in recent months in the West - "does not mean that China poses a risk". .

"Decreasing the risk means that we want to be more independent... we don't want to be at the point where we were during the coronavirus pandemic, realizing that we are very dependent on some components," he added, mentioning microchips as one of the examples.

Le Maire's statements come as several Western countries try to reduce their dependence on China, especially Germany, which considers the Asian country a key trading partner and an important market for its automotive industry.

The United States has also called for less dependence on China, although the US Secretary of the Treasury, Janet Yellen, said during a visit to China earlier this month that the separation of the US economy from that of China, is "virtually impossible".

China, on the other hand, has criticized the West for attempts to reduce dependence, as Prime Minister Li Qiang has called this concept a "false theory".

Le Maire is in China for high-level economic negotiations and will travel to China's economic hub, Shenzhen, on Monday to meet with business leaders./ REL





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