Macron’s Southeast Asia Gambit: EU Courts Tech Titans & Dodges Dollar Dominance

France’s president kicks off a high-stakes tour—because nothing says ’geopolitical pivot’ like chasing Asian blockchain hubs while Europe’s CBDC lags behind.

Subheader: Eurocrats Play Catch-Up

Macron’s itinerary reads like a Web3 investor’s dream: Vietnam’s digital ID schemes, Singapore’s DeFi sandbox, and Thailand’s tokenized bond market. Meanwhile, Brussels still debates MiCA compliance timelines.

Subheader: The Real Trade War

Forget tariffs—this is about who controls the rails of the next financial system. Spoiler: SWIFT won’t be invited to the afterparty.

Closer: Watch those ’economic partnership’ MOUs. Every handshake comes with a side of regulatory arbitrage—and Goldman Sachs already booked the conference rooms.

Human rights groups have urged Macron to press Vietnam on civil liberties

Benedicte Jeannerod, France director at Human Rights Watch, said, “The Vietnamese government’s broad and intense crackdown on freedom of speech and assembly is the opposite of what it pledged to France and the EU. The authorities have jailed an increasing number of democracy advocates and dissidents and are resisting reforms.”

On Tuesday, Macron will visit the University of Science and Technology in Hanoi. There, he will deliver a speech on the future of France’s relationship with Vietnam, highlighting shared strategic interests and economic cooperation.

Throughout the tour, Macron aims to reinforce France’s role in Asia and secure partnerships that span trade, technology, and defense. By sealing new agreements and engaging in high-level dialogue, he seeks to strengthen France’s presence in a region marked by rapid change and growing geopolitical significance.

Macron has been seeking closer ties with China

Meanwhile, as Europe adjusts to U.S. tariff uncertainties, Macron has sought closer economic ties with China. After a call with President Xi Jinping earlier this week, he posted on X: “Chinese investment is welcome in France. But our companies must benefit from fair competition in our two countries.”

Xi told Macron that China and France, both permanent members of the UN Security Council, should join forces to “safeguard international trade rules” and uphold the world economic order while pursuing “genuine multilateralism,” according to China’s state broadcaster CCTV.

The leaders spoke as international trade has been shaken by US President Donald Trump’s threats to impose steep tariffs on China, the European Union, and other nations, sparking retaliatory duties against US goods.

“The more complicated the international situation becomes, the more China and France should make the right strategic choices and work together to be a reliable force in maintaining international order,” Xi said, CCTV reported.

Xi went on to say that China “has always regarded Europe as an independent pole in the multi-polar world,” supports the EU in strengthening its strategic autonomy and playing a larger role in global affairs, and is ready to partner with Europe to tackle worldwide challenges and secure benefits for both sides and the world.

The call followed a visit last week by Chinese Vice Premier He Lifeng to France, during which he urged for “a more fair, just and predictable business environment.”

Macron and Xi also discussed the war in Ukraine. In his post on X, Macron said the two agreed the goal must be “a lasting and robust peace” that “begins with an immediate and unconditional ceasefire.”

Macron also pledged to work with China to bring an end to the war in Gaza. He said, “We will work with China to prepare the Conference on [a] Two-State Solution, scheduled for June in New York, which France is co-chairing with Saudi Arabia.”

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