By Ginika Igboke
Chinese Vice Premier Zhang Guoqing participated in a video conference hosted by French President Emmanuel Macron on Thursday as concerns over global economic imbalances intensify ahead of next week’s G7 summit.
The meeting, titled “Global Convergence for Growth,” was held just days before leaders of the Group of Seven nations are scheduled to gather in Évian-les-Bains from June 15–17. Trade tensions and China’s growing export surplus are expected to be among the key topics of discussion at the summit.
Opening the conference, Macron emphasized the need for international cooperation to strengthen the global economy.
“Our common goal should be clear. It is to put the global economy back on a stronger growth path,” Macron said. He added that “coordination is key” to preventing sudden economic and financial disruptions.
China’s Foreign Ministry said Zhang attended the event at the invitation of the French government, marking a relatively rare instance of direct Chinese participation in a forum connected to the G7. Beijing has frequently criticized the group as failing to represent the broader international community.
France, which currently holds the G7 presidency, has made global economic imbalances a major focus of its agenda. French officials view the discussions as an opportunity to explore cooperative solutions before the European Union considers whether to adopt a tougher trade policy toward China.
European concerns have grown as China’s trade and current-account surpluses continue to expand. According to Chinese foreign exchange data, the country’s current-account surplus reached a record $735 billion in 2025.
Critics argue that rapidly growing Chinese exports, particularly in sectors such as electric vehicles and batteries, are increasing pressure on European manufacturers. Chinese officials, however, reject claims that government support provides their exporters with an unfair advantage.
The talks build on months of diplomatic engagement between Paris and Beijing. Macron met with Xi Jinping in Beijing in December 2025, urging China to help rebalance economic relations through cooperation rather than policies that could push Europe toward greater protectionism.
Since then, several G7 leaders have traveled to China as governments seek to manage rising economic tensions and maintain stable trade relations.
The issue has also gained prominence within the G7 itself. Finance ministers meeting last month agreed that coordinated efforts were needed to address what they described as excessive global imbalances, reflecting concerns that widening trade disparities could create broader economic and financial risks.
Although China is not a member of the G7, its role in the global economy is expected to be a central topic of discussion at both the upcoming summit and a subsequent meeting of European Union leaders.
As of Thursday evening, neither French nor Chinese authorities had released a joint statement summarizing the outcome of the video conference.
Original article
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