French President Emmanuel Macron stated on Tuesday that the European Union must address the issue of low economic growth through protection measures, simplification, and increased investment. He emphasized that protecting European companies and markets is not an act of protectionism, but a reaction to the behaviors of countries that do not respect the principle of a level playing field. Macron highlighted that the EU is facing a lack of private investment, with most savings directed towards bonds or foreign stocks. He estimated that between 65% and 70% of the GDP per capita difference between the United States and the EU is due to this lack of investment and innovation. Additionally, Macron stressed the need to attract Chinese investments in key sectors to stimulate economic growth in Europe.
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