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Europe wants a new Plaza Accord for China – seriously?

Europe wants a new Plaza Accord for China – seriously?
South China Morning Post Friday 26 June 2026, 12:30 UTC By Alex Lo 1 min read
Key Points

Leaders of the G7 rich nations might have gone into this month’s summit in France hoping for a united front against China. But, overshadowed by the conflicts in Iran and Ukraine and alienated by a mercurial US President Donald Trump, the lacklustre gathering came up short. There was no public agreement on how to address the so-called China shock 2.0, the supposed overcapacity issues and currency manipulation that is considered to be the cause of Chinese exports flooding into Europe.

Leaders of the G7 rich nations might have gone into this month’s summit in France hoping for a united front against China. But, overshadowed by the conflicts in Iran and Ukraine and alienated by a mercurial US President Donald Trump, the lacklustre gathering came up short. There was no public agreement on how to address the so-called China shock 2.0, the supposed overcapacity issues and currency manipulation that is considered to be the cause of Chinese exports flooding into Europe. Instead of...
Europe (LOCATION) Plaza Accord (LOCATION) China (LOCATION) G7 (ORG) France (LOCATION) Iran (LOCATION) Ukraine (LOCATION) US (LOCATION) Donald Trump (PERSON) Chinese (ORG)
Originally published by South China Morning Post Read original →

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