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The EU should embark on a 10-year plan to become a major power that will act differently than the USA and China, French President Emmanuel Macron said on Wednesday at the World Economic Forum.

President Donald Trump finally plans to hold his first state dinner.

"We've also decided to make France a model in the fight against climate change", Macron said.

Mr Macron, who swept to power past year after defeating right-wing politician Marine Le Pen with a promise of economic reform, said that countries were "moving back to strategies of non-co-operation, undoing what globalisation has been able to achieve".

In a much-awaited speech less than nine months after his election, Macron's 20-minute discourse on Wednesday, chiefly in English, saw him unveil his vision on how to deliver reforms "to "make France more competitive" and "more flexible". He underscored the importance of visibility as critical to guaranteeing predictability, and thus stability.

"This year will be the year where we have to redesign a ten-year strategy for Europe", said Macron. Carbon markets work by providing a financial incentive to pollute less; many experts have called for a minimum price on carbon to boost progress.

He voiced concern over the ability of large tech firms to avoid effective taxation and regulation.

Trump was so impressed that he told Macron: "We're going to have to try and top it", adding, "we're actually thinking about Fourth of July, Pennsylvania Avenue, having a really great parade to show our military strength".

Macron also expressed concern over the "race to the bottom" between countries competing for corporations and the jobs they create through ever-lower corporate tax rates.

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