Since the middle of last year, countries in the Muslim world have been talking about boycotting French goods. But later, countries like Saudi Arabia were France’s biggest arms buyers.
Now the question is, can any state boycott the French economy if it wants to? In fact, the boycott depended entirely on a state-controlled by several factors.
So the focus of today’s discussion is on the French economy and its position in the global arena.
the French economy
According to the PPP report of 2020, France is the 10th largest economy in the world. In addition, France is the third largest country in the European Union in terms of economy.
With a GDP of $3.23 trillion (according to PPP 2021), France is one of the most advanced economies in the world. It’s also a member state of WTO and OECD.
Paris, the capital and leading city of France, is one of the most beautiful cities in the world. It is also one of the most industrialized cities in the world with thousands of businesses.
The country’s economic driving force is machinery, aircraft, plastics, iron, and steel. France also exports packaged food, including pharmaceutical products, chemicals, and beverages.
Domestically, however, the country’s economy is governed by a variety of factors, including agriculture and tourism.
the French trade
French trade is naturally dependent on the European Union. About 14.8 percent of French trade exports go to EU member Germany. Again, 18 percent of total imports come from Germany. Then it is followed by Spain and Italy.
France exports 7.2 percent of its total exports to the United States and imports 5.2 percent of its total imports from the United States. (Source: Economy of France, Wikipedia).
The free-market economy, France also has trade relations with China, one of the world’s leading economies. However, China exports more goods to France than France exports to China.
Similarly, France and other developing countries, including India, have trade deficits with France. However, France is a long-term market for countries like Bangladesh and India.
French economy and Muslim world
France’s relations with the Muslim world have not been very good due to its mockery of Islam.
In doing so, Turkey, Pakistan, Bangladesh, the United Arab Emirates, and other countries have spoken out against the boycott of French goods.
However, it should be noted that the Muslim world was divided over the boycott of French goods, one led by radical Turkey and the other by Western-backed Saudi Arabia.
But in the real sense, it was not possible for the Muslim world to boycott French goods, because economic boycotts are always reciprocated by the two countries.
France imports more goods than it exports to the Muslim world, including oil and gas. As a result, France is one of the largest markets in the Muslim world.
Therefore, if the countries of the Muslim world boycott French products, it will boycott the products of Muslim countries in protest. As a result, even if the loss of France is very small, the countries of the Muslim world will lose a huge market like France.
can others boycott French goods
How developed the French economy depends on the answer to a question. And the question is, is it possible to boycott French products at all?
In fact, whether a country will boycott French products depends on a number of factors, including the global market, geopolitical importance, and the demand and dominance of French products as well as politics.
As a member of the European Union, European Union states will never boycott French goods unless it harms the interests of the EU.
On the other hand, the United States and France have been friends since independence. As a result, French trade with the United States is likely to be cut off for geopolitical and state interests.
If we look at South and East Asia, China and India have the largest trade with France. However, France exports very few products to India and China but they do a large. As a result, France is a huge market for China and India.
On the other hand, if we talk about Bangladesh and these types of economies, France is a big market for Bangladeshi garments. Bangladesh exports packaged food such as processed fish to France.
Strength of French economy
However, these are the limitations of different countries and the discussion on why they will not boycott French products. But economically, France’s economy is advanced and developed.
The country usually produces aircraft products, including machinery and chemicals. This things have higher price and higher market demand.
In fact, the mechanisms of an electronic device are translated. As a result, even if the device or electronic product is apparently made in another country, the mechanisms inside it are made by France. Due to this, it is not possible to make these products without French goods.
France is currently producing machinery products that meet the demand for other products. As a result, it would be possible to boycott French drinks or perfumes, but it would not be possible to boycott French products.