" Yes, there is a risk for the world economy ", said this Wednesday morning the Minister of Economy and Finance, Bruno Le Maire on the Public-Séna t channel. Returning from Ryad where a G20 meeting was held which brings together the largest state powers, the minister did not hide the common concerns of the heads of state. " There are real concerns from the finance ministers of the 20 wealthiest states on the planet about the consequences of the coronavirus on global growth ," he warned.
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Asked about the impact of the epidemic on the French economy, the boss of Bercy clarified the consequences on two " major channels". Regarding tourism, the Chinese represent " 2.5 million travelers each year " said Bruno Le Maire. “ There will be between 30% and 40% fewer Chinese tourists, especially in the regions where they are most present, that is to say the Paris region, Burgundy and the Côte d'Azur. "
" The second financial channel impacted is the value chain ," he said. " Many Chinese ports are idling which cuts certain supply sectors, and poses logistical problems ", explained the minister who wants to " draw the long term consequences from this situation ", by " relocating certain strategic activities in France or Europe ”. " I have been saying for several months that we must strengthen the sovereignty and independence of our country, " he said. The minister clarified that he had telephoned the managing director of the IMF on Tuesday evening and announced " working on a series of possible responses with the IMF as part of the G20 ", faced with the financial threat of the coronavirus.
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Pointing to the Chinese dependence of the French economy on certain products, Bruno Le Maire explained that “ 80% of the active ingredients in pharmaceutical products are produced in China. I welcome Sanofi's decision to repatriate part of its production. It is a question of sovereignty for our country . ” Asked about the Boeing-Airbus conflict that scleroses trade relations with the United States, leading to Trump's reprisals on French viticulture, the minister brought " all his support " to the viticulturalists impacted by the 25% of American taxes. “ We are going to ask our European partners to create a compensation fund in the face of financial sanctions, which can be around 300 million euros. I fight daily for there to be an agreement on the Boeing-Airbus conflict. Wine growers have nothing to do with it . ”
