Europe wants a new Plaza Accord for China – seriously?

Leaders of the G7 rich nations might have gone into this month’s summit in France hoping for a united front against China.

But, overshadowed by the conflicts in Iran and Ukraine and alienated by a mercurial US President Donald Trump, the lacklustre gathering came up short.

There was no public agreement on how to address the so-called China shock 2.0, the supposed overcapacity issues and currency manipulation that is considered to be the cause of Chinese exports flooding into Europe.

Instead of...