2024-08-27 04:44:14
Unprecedented uncertainty is facing business leaders this autumn, who gathered at the Longchamps racecourse on Monday and Tuesday for the Medef Summer School. “We had a record first half, but I have no vacation this summer and everything could change because of the international tensions, whether political, commercial or regulatory,” concluded Guy Sidos, general manager of Vicat, France’s third largest cement manufacturer.
A study on the reconfiguration of global flows published in July by McKinsey, a consultancy that regularly surveys 1,000 leaders, found that geopolitical instability actually topped the list of 12-month risk factors “by far.” France’s openness to foreign trade stands at 73%, compared with 27% for the United States and 38% for China, and for good reason. French companies rely on foreign markets for two-thirds of their revenues, while American companies derive just 32% of their business from international markets.
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