French President Emmanuel Macron has said that globalization is facing a "major crisis" and that collective action is needed to confront the challenge.
"Let us not be naive, globalization is going through a major crisis and this challenge needs to be collectively fought by states and civil society in order to find and implement global solutions," he said at the World Economic Forum in Davos, Switzerland, on Wednesday.
"I want to come here (to Davos) to make a call to action. France has been affected by structural change and this relationship with globalization," he added.
Macron was tipped as the European leader to watch at the Forum, particularly as he appears to be the strongest leader in the region at the moment while Germany's Chancellor Angela Merkel continues in her long-running attempt to form a coalition government with a rival party.
Speaking to CNBC after the speech, Macron said "more cooperation" was needed and a "global compact" was necessary to mitigate the negative consequences of globalization. The compact would see governments, companies and investors finance "the common good," Macron said.