As we know the US trade deal with China has affected global trade, while certain economies are being challenged, some economies are reaping the benefits. In recent economic news, China signed a $15 billion contract with France. This contract represents trade deals between the two countries in terms of aeronautics, as well as energy and agriculture; this contract also led to the approval of 20 French companies to export poultry, beef and pork to China. China and France also discussed agreements such as food protocols, as well as climate control. In terms of working together more closely, China and France also collaborated on natural gas, energy and technology deals as well as joint ventures. For example, Beijing Gas Group and French utility Engie are joining forces on the topic of liquefied natural gas storage: the agreements include France providing the technology needed for gas storage projects in China which ultimately will be used for gas leak preventions. This joint venture also includes France’s Total (TOTF.PA) (which is French Oil & Gas Company) and China’s Shenergy Group which will work together in the distribution of the liquefied natural gas travels. Ultimately, China is sending a message to the US and to the rest of our economy that cooperation and collaboration is possible, and is in the best interest of our global economy. China’s president Xi Jinping stated that this is a mere example of two leaders that "sent a strong signal to the world about steadfastly upholding multilateralism and free trade, as well as working together to build open economies."

E-mail me when people leave their comments –

You need to be a member of UNH Economics Collective to add comments!

Join UNH Economics Collective