France could be risking a fatal economic decline

According to a report issued by the audit firm PwC, the forecasts of the future economic weight of France are worrying. France would be caught up by Mexico in 2030 and then by Turkey in 2050.

France’s economic growth has stalled for almost nine years (2008) while other European countries like Germany and the United Kingdom have continued to develop and therefore should not suffer a similar decline. For France, this downgrade would be fatal to its geopolitical power indispensable to the preservation of its interests and would inevitably eventually risk the loss of its seat on the UN Security Council (UNSC).

According to Cyceon, this report adds to many unsatisfactory indicators that force French political leaders to urgently reassess their economic and trade policies. The latest trade balance figures set the deficit of France at 48.1 billion euros in 2016 while the surplus of Germany amounts to nearly 253 billion euros. A (former) heavyweight in Europe, France is slowly slipping into the list of countries in serious difficulty, like Greece and Italy.

Finally, considering the repeated warnings from France’s Court of Auditors in recent years without any major change, the French decline seems inevitable in the longer term in the absence of significant political change. While positive factors such as innovation, territory and the francophonie nuance such a bleak picture, France must also be able to exploit its full potential in a profitable way.