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Jun 15, 2026
Barry Eichengreen
The French G7 presidency’s focus on global imbalances is both welcome and problematic. While long-standing trade imbalances between the United States, Europe, and China are, if anything, becoming even more troublesome, the leaders’ summit in Évian-les-Bains will do nothing to address the problem.
FALMOUTH, UK—The French government of President Emmanuel Macron has made the most of its six-month presidency of the G7, the hoary club of large high-income economies. France’s term will conclude this week with a leaders’ summit in the spa town of Évian-les-Bains. The question is whether anything more than a spectacle of bonhomie can be achieved.
