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Nov26
French President Nicolas Sarkozy Lands $29.62 Billion in Deals with China

The visit by French president Nicolas Sarkozy to China, was primarily with an economic focus, and measured by the almost $30 billion in deals he secured for France, was highly successful.

The majority of the deals were connected to the airline and nuclear industries, with the largest agreement the purchase of 160 commercial passenger jets from Airbus, based in France, worth about $14.8 billion.

In the nuclear reactor sector, Sarkozy secured a deal to sell two of them to the China Guangdong Nuclear Power Corp. for around $11.9 billion, through the French state-owned Areva SA. There has been a strong battle to build nuclear plants in China, as they have plans to build 32 of them by 2020. America, Russia and France have been the main competitors in that field.

Concerning the sensitive area of currency rates, Sarkozy said in his visit that "We need to arrive at currency rates that are harmonious and fair and that will benefit the global economy. This means that, for its own sake as well, China needs to accelerate the appreciation of the yuan against the euro."

French%20President%20Nicolas%20Sarkozy%20lands%2030%20billion%20in%20business%20with%20China.jpg
AP Photo/Claro Cortes IV

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