French president Macron sees a paradigm shift unfolding in global trade rules as China and the U.S. channel billions of dollars in subsidies toward homegrown industries

"In April, Macron delivered a speech warning that the European project of economic cooperation "can die" if the continent doesn't wake up to the new state of affairs.

"With many others starting to change the rules of the game and over-subsidizing, from China to the United States of America," Macron said, Europe can't continue imposing strict environmental and economic norms, and underinvesting in its industries." [1]

1. Xi Arrives In Europe As Global Tensions Intensify --- Macron is expected to press China's president on trade, the conflict in Ukraine. Bisserbe, Noemie.  Wall Street Journal, Eastern edition; New York, N.Y.. 06 May 2024: A.1.