As part of its G7 Presidency, France brought together representatives of several major world economies on Thursday 11 June for a videoconference organised ahead of the Summit of Heads of State or Government, scheduled to take place in Évian-les-Bains from 15 to 17 June.
In addition to the G7 members (Germany, Canada, the United States, France, Italy, Japan, and the United Kingdom), China was invited to this meeting, represented by its Vice-Premier, Zhang Guoqing.
On the occasion of this ‘Global Convergence Summit for Growth’, French President Emmanuel Macron called on the countries concerned to act “urgently” in order to better coordinate their economic policies and reduce global imbalances, with the aim of avoiding “brutal” adjustments, AFP reported.
The participants agreed on the existence of macroeconomic imbalances and on the need to act in the common interest, the Élysée confirmed. The work undertaken in this context will feed into discussions at the next G20 Summit, due to be held in the United States in December and in which China will take part.
The Élysée also indicated that the International Monetary Fund (IMF) would be associated with these initiatives. Earlier in the day, the institution had revised down its growth forecasts for the euro area because of the conflict between the United States and Iran.
The war in the Middle East will be among the main topics of discussion for the G7 leaders in the Alps. The question of relations between the European Union and China is also expected to be addressed, following a policy debate within the European Commission at the end of May (see EUROPE 13877/15). (Original version in French by Juliette Verdes)