FRANCE PERSPECTIVE
CHINA: THE 2026 TWO SESSIONS LAUNCH THE 15TH FIVE-YEAR PLAN UNDER THE SIGN OF TECHNOLOGICAL SELF-SUFFICIENCY
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DOMINANT ANGLE
The Chinese plan between admiration for industrial strategy and concern over protectionism.
ANALYSIS
Le Monde devotes a lengthy analysis to the 15th five-year plan, highlighting the paradox of a growth target of around 5% when indicators suggest structural slowdown. Les Echos focus on new productive forces and the target of 3.2% of GDP in R&D, favorably comparing this industrial voluntarism to the absence of an equivalent strategy in Europe.
France 24 and La Tribune note that China's slowdown directly impacts French luxury: LVMH, Kering, Hermès depend on China for 25 to 35% of their revenue. Conversely, nuclear and aeronautics remain areas of cooperation.
European de-risking policy is at the heart of the commentary. France cannot afford the total decoupling advocated by the Americans, cites Le Figaro. China's recourse to rare earth restrictions is presented as a warning about Europe's strategic vulnerability.
KEY POINTS
- Admiration for Chinese industrial voluntarism contrasted by concern over overcapacity
- Direct impact on French luxury (LVMH, Kering, Hermès)
- France caught between American decoupling and its commercial interests
COGNITIVE BIASES IDENTIFIED
Structural ambivalence: fascination with the Chinese industrial model and criticism of its excesses