“Let's stop criticizing our banks!”

More than ten years after the subprime mortgage crisis, all the light has not been shed, and yet the idea of ​​the guilt of the banks has taken hold firmly in people's minds. They are even blamed for the double fault, since after playing with fire and triggering the crisis, they allegedly asked for help from the States. This unanimous condemnation, the result of incomplete analyzes, is a heavy component of the bank bashing that has raged since then and unfortunately works against our interests. We are indeed at a critical moment when Europe, faced with the domination of American finance and the dollar, must develop its own financial capacities. The development of a strong pan-European financial sector is therefore essential if we particularly want to foster the emergence of future European gafas. 
If it is vain to hope for the complete disappearance of this bank bashing and, one might say, of the bashing market whose roots plunge both in history and in ignor…

Huawei at the heart of the Chinese foreign minister's visit to Europe

Expected in Italy this Tuesday, August 25, the Chinese Minister of Foreign Affairs begins a tour in five European countries, including France. This is Wang Yi's first overseas visit since the Covid-19 outbreak. Preserving multilateralism should be on the agenda, as should the reorganization of global supply chains. But the hottest topic will undoubtedly be the awarding of contracts for 5G, from which Chinese telecom giant Huawei is gradually being pushed aside in Europe. 

Huawei at the heart of the Chinese foreign minister's visit to Europe

The Chinese foreign minister will try to stem the tide of anti-Huawei regulations, which are slowly blocking the 5G route for the Chinese telecom giant in Europe.

Close to the American position, the United Kingdom is not on the program. London has already banned the purchase of new Huawei equipment from next December.

The first stage of the official tour of the Chinese Foreign Minister is to take place in Italy, the only country on the list to have officially integrated the Chinese infrastructure project of the "New Silk Roads", recalls our correspondent in Beijing, Zhifan Liu.

Germany to decide Huawei's fate in September

Wang Yi will have to convince his Italian counterpart not to exclude Huawei from the development of 5G, a world leader in the field, but presented as close to the communist power.

After Italy, Wang Yi will also travel to Norway, where operator Telenor has preferred Sweden's Ericsson to Chinese Huawei, then to the Netherlands, which plan to ban certain operators from critical parts of their network.

Another obstacle foreseen in France where the government has an ambivalent position, no total ban on Huawei but non-renewable authorizations of less than 5 years, which threatens the profitability of the Chinese equipment manufacturer's investments. Wang Yi’s final stop: Germany, which is due to decide Huawei’s fate in September.

Next summit with Xi Jinping

The first official visit since the epidemic spread is also intended to reconnect with Europe at a time when relations between Beijing and the United States are increasingly strained.

China sees this stay as an opportunity to promote multilateralism to restart the world economy while the communist power, eager to demonstrate the superiority of the Chinese health model, has scalded several European chanceries. An offensive attitude symbolized by the establishment in the middle of the summer of a freedom-killing national security law in Hong Kong.

These meetings should also help prepare the next summit in mid-September between European leaders and President Xi Jinping, which should revolve around a trade agreement between the EU and the second world power.