Emmanuel Macron, President of France, clarified his position on the future of Europe and its relations with China and the US in the short term. Returning from his visit to Beijing, Macron believes that Europe should avoid getting caught up in a US-China conflict and reduce its dependence on the US dollar to avoid becoming “vassals”, applying his concept of “strategic autonomy”.
Emmanuel Macron believes that Europe must remain autonomous from the United States and China
French President Emmanuel Macron recently revealed his stance on the current geopolitical and macroeconomic issues facing Europe, amid the Russia-Ukraine war and a possible Taiwan conflict. Returning from a three-day visit to China, where he met Chinese President Xi Jinping, Macron said Europe often gets caught up in third-party affairs that affect its chances of developing “strategic autonomy.”
Macron also pointed out that this behavior of the European Union bloc is reducing it to being considered a mere patron of the US In this regard, he said political:
The paradox would be that, overcome by panic, we believe that we are only followers of the United States.
As part of his “strategic autonomy” determination, Macron acknowledged that Europe had no chance of influencing the future of a potential conflict in Taiwan, and that any attempt to do so would only increase tensions between the parties.
Analysts believe that the doctrine of strategic autonomy has more to do with the US than with countries like China and Russia. On this, Cui Hongjian, director of European studies at the China Institute of International Studies, explained:
It means that Europe does not want to be overshadowed in “great power” rivalry and needs to have its own say on security, defense and foreign policy issues that have normally been controlled by the US.
Avoid ‘vassal’ status by reducing reliance on the US dollar
Macron also claimed that Europe had become dependent on the US on the energy and military front, and proposed promoting the development of European alternatives. Macron also criticized the bloc’s dependence on the US dollar, explaining that it could hurt them in the future.
On how this dependency could affect Europe, Macron stated:
If tensions between the two superpowers escalate, we will not have the time or resources to finance our strategic autonomy and we will become vassals.
While European countries have not been targeted by US dollar-focused sanctions, European companies often complain that they cannot conduct business with sanctioned countries and entities due to the risk of being subject to secondary sanctions. China, Russia and other BRICS countries are currently working on developing alternatives to using the US dollar to carry out these activities.
President Xi had called on the European bloc before, asking it to “oppose hegemonism, unilateralism and attempts to decouple economies or cut supply chains,” calling against adopting or supporting these sanctions.
What do you think of President Macron’s position on Europe’s dependence on the dollar? Tell us in the comment section below.
image credits: Shutterstock, Pixabay, Wiki Commons, Frederic Legrand – COMEO / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
