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The French economy seen by a French Lebanese entrepreneur (voir Version Anglaise)

French society, which never stops talking about crisis, remains centered on the same sterile subjects and seems worried for its future, going through a serious crisis of confidence.

We interviewed a French-Lebanese entrepreneur who bet on the openness of the world economy from the beginning of his career and asked for his opinion on the future of the French economy.

"I am not a specialist in political economy or macroeconomics but I can give you the vision of an entrepreneur," Hassan Hachem says. "From my point of view, France has incredible strengths: an education among the most efficient in the world, a real entrepreneurial spirit, widespread in the population, an unparalleled capacity for global adaptation, a real opening to the world. Outside, a diversified economic tissu, large savings capacity (10% of the income saved each year for a total wealth of 12500 billion euros, the equivalent of six years of GDP) and world champions in growing sectors and finally, a very productive population. "

"But various factors have contributed to freeze the system over the last twenty years: the reduction of legal working hours, the lack of competitiveness of our companies, the lack of investment in research, which has led to our country a delay in certain sectors, such as new technologies, while France has a large human potential in this field.

In addition, the administrative burden and the high tax rate constitute a brake on foreign investment. For Hassan Hachem, investment should be a bigger part of the budget, debt and deficit management debate. In this perspective, the debates about the need for a fiscal stimulus do not have the same meaning. He believes that a stimulus policy will have little effect if it gives purchasing power that households will use to buy smartphones made by Chinese companies for Korean or American multinationals, paying little or no taxes in France. This type of recovery is like wasting a precious fuel: the countries that succeed today in the world apply a policy that is finally quite close to that of France during the glorious thirties: a balance between long-term investments (roads, highways, TGV, ports, technologies, research and development, education ...). "I think that this has simultaneously helped raise the standard of living of citizens and at the same time prepare the future by strengthening the French economic fabric," Hassan Hachem continues.

"Finally, we must boost growth by overcoming the aforementioned drawbacks, which would revive some industrial activities, to ensure the competitiveness of French companies and their presence, especially in advanced sectors such as new technologies. We must also be part of a logic of reducing our public deficit. Maybe we should limit the lifestyle, more generally, the state not to mortgage the future of our children. "
"Let us hope that the current rulers are aware of all this and that it will be remedied quickly. "

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