· François Villeroy de Galhau Wiki · Banque de France WikiEurope and China - a key economic relationship under the pressure of great uncertainty and growing imbalances
Read full speech on bis.org ↗ContextSpeech by the Governor of the Banque de France at the People's Bank of China in Beijing, before Governor Pan Gongsheng.
Why it mattersRaises Europe's trade imbalances with China face to face with Chinese officials, an unusually direct message.
Problems raised
- Energy shocks from the Middle East raise euro area inflation.
- Trade imbalances with China fuel tensions and fragmentation.
- European firms lack equity and venture capital.
Solutions proposed
- Keep a close watch on energy-driven inflation scenarios.
- Address imbalances through dialogue between Europe and China.
- Speed up the Savings and Investments Union.