Business Standard

Prez Macron wins commanding parliament­ary majority: Pollsters

- INGRID MELANDER & MAYA NIKOLAEVA 18 June

President Emmanuel Macron won a commanding majority in France’s parliament­ary election on Sunday, pollsters' estimates showed, sweeping aside the mainstream parties and securing a powerful mandate to push through his pro-business reforms.

The result, if confirmed, redraws France’s political landscape, humiliatin­g the traditiona­l Socialist and conservati­ve parties that alternated in power for decades until Macron’s election in May blew apart the left-right divide.

Two pollsters projected that Macron’s Republic on the Move (LREM) and its Modem allies would win 355-360 seats in the 577-seat lower house, lower than previously forecast.

Turnout, though, was on course for a record low, a sign of voter fatigue after seven months of campaignin­g and voting — and also of disillusio­nment and anger with politics that could eventually complicate Macron's reform drive.

Interior Ministry data showed turnout reached 17.75 per cent by 1200 (1000 GMT), its lowest ever at that time of day for a second round of parliament­ary elections since at least 1997.

"People know it's already a done deal," Alex Mpoy, a 38-year-old security guard said, echoing the apathy of many voters who intend to abstain.

Macron cast his vote early in the morning in the seaside resort of Le Touquet before flying to a ceremony outside Paris to mark the anniversar­y of Charles de Gaulle's 1940 appeal for French resistance to Nazi Germany's occupation.

Polls show Macron is on course to win the biggest parliament­ary majority since de Gaulle's own conservati­ves in 1968.

Many of Macron's lawmakers will be political novices, something which will change the face of parliament at the expense of the conservati­ve and socialist

Pollsters project Emmanuel Macron's Republic on the Move party will win as many as 75 to 80% of the seats in the 577-seat house Turnout was on course for a record low, a sign of voter fatigue after seven months of campaignin­g and voting — and also of anger with politics Macron is on course to win the biggest parliament­ary majority since de Gaulle's own conservati­ves in 1968, say polls

parties that have ruled France for decades.

One of the challenges for Macron will be to keep such a diverse and politicall­y raw group of lawmakers united behind him, as he sets out to overhaul labour rules, cut tens of thousands of public-sector jobs and invest billions in areas like job training and renewable energy.

"There has never been such a paradox between a high concentrat­ion of power and strong tensions and expectatio­ns in terms of changes," Laurent Berger, head of France's CFDT union, told the weekly Journal du Dimanche.

"There is no place for euphoria in victory. There is no providenti­al man, no miracle solution".

Macron's rivals have urged voters not to stay at home, warning power would be concentrat­ed in the hands of one party and democratic debate stifled.

"We need other parties to have some weight," 54-year-old assembly line worker Veronique Franquevil­le said on the parking lot of a tumble-dryer factory in the northern town of Amiens.

"If he wins it all there will be no debate." Among Macron supporters the mood is very different, with an overwhelmi­ng feeling that the president needs to be given a strong enough majority to carry out the policies on which he was elected just over a month ago.

The election is set to send shockwaves through the older parties, with their unity, and even survival, at stake.

The conservati­ve The Republican­s are expected to be the biggest opposition group in parliament. But polls see them securing no more than 90 to 95 seats out of 577.

Some Republican lawmakers could create a separate group to back Macron on a case-by-case basis. Others may see a future firmly in the opposition.

The Socialist Party, which ruled France until last month, faces a humiliatin­g defeat, which could see them with no more than 25 to 35 seats.

The election also spells trouble for the far-right National Front (FN), which is expected to win only one to six seats, when it had hoped to secure a "massive" presence in parliament. Its leader, Marine Le Pen, is expected to be among those who will be elected. REUTERS Exports from Asia totalled about $5.858 trillion in 2016, down -3.9% since 2012 when Asian shipments were valued at $6.094 trillion. Calculatio­ns were done using statistics from the Internatio­nal Monetary Fund’s World Economic Outlook database; the total gross domestic product for the selected 36 Asian countries on a purchase power parity basis amounted to roughly $51.225 trillion in 2016. Therefore, exports accounted for an estimated 11.4% of Asia’s total economic output.

Given Asia’s population of approximat­ely 4.1 billion people, the total $5.858 trillion in 2016 Asian exports comes to roughly $1,419 for every person living within that continent.

Below are the top 10 Asian export countries that attained the highest dollar value in global shipments during 2016. Rank Exporter

China

2016 ($ bn)

2,119

644.9

Asian total (%) 36.2

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