Tags: EU | France | Macron

Decrying Crisis, France's Macron Urges New Economic Order

Decrying Crisis, France's Macron Urges New Economic Order

Tuesday, 27 August 2019 06:37 AM

PARIS (AP) — French President Emmanuel Macron is calling for a new global economic order, decrying an "unprecedented crisis" in the market economy.

Amid uncertainty over U.S. trade policies, Macron said the market economy has become too finance-driven, creating inequalities "that are shaking up our political order." He called for a global "rethink," but did not offer details.

In a sweeping diplomatic speech Tuesday, Macron said "we are living the end of Western hegemony" in the world, in part as a result of Western "errors" over past centuries.

Macron spoke the day after hosting an intense G-7 summit clouded by concerns about U.S. trade policies and tensions with China and an economic slowdown. The G-7 ended with a call for "fair" and "open" trade but no mention of currencies or fiscal stimulus.

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French President Emmanuel Macron is calling for a new global economic order, decrying an "unprecedented crisis" in the market economy.Amid uncertainty over U.S. trade policies, Macron said the market economy has become too finance-driven, creating inequalities "that are...
EU,France,Macron
131
2019-37-27
Tuesday, 27 August 2019 06:37 AM
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