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France has an important aerospace industry (lead by Airbus Industrie) and is the only European power to have its own national space centre. France is also the most energy independent Western country due to heavy investment in nuclear power, which also makes France the smallest producer of carbon dioxide among the seven most industrialised countries in the world. Large tracts of fertile land, the application of modern technology, and EU subsidies have combined to make France the leading agricultural producer in Western Europe.

After the war of 1689-1697 gained France only Haiti (lost to a slave revolt a century later), the War of the Spanish Succession (1701-1713) ended with the undoing of Louis's dreams of a Franco-Spanish Bourbon empire: the two conflicts strained French resources already weakened by disastrous harvests in the 1690s and in 1709, as well as by the revocation (1685) of the Edict of Nantes and the consequent loss of Huguenot support and manpower.

It has long been customary for members of parliaments to have, in addition to their mandate as deputy or senator, some local mandate, such as mayor of a city; thus, the phrases "deputy-mayor" (député-maire) and "senator-mayor" (sénateur-maire). This is known as the cumul of electoral mandates. Proponents of the cumul allege that having local responsibilities ensures that members of parliament stay in contact with the reality of their consistuency; also, they are said to be able to defend the interest of their city etc. better by having a seat in parliament.

The Parliament of France consists in two houses: the National Assembly and the Senate; the Assembly is the pre-eminent body. The National Assembly is the principal legislative body. Its 577 deputies are directly elected for 5-year terms in local majority votes, and all seats are voted on in each election.

As France is the most popular touristic country in the world, tourism is a significant contributor to the French Economy. In the 1960s the government heavily promoted the development of skiing in the French Alps through the development of new high level resorts including some of the World's most extensive.

Under the constitution, the president was originally elected for a seven year term; this has been reduced to five years. The president names the prime minister, presides over the cabinet, commands the armed forces, and concludes treaties. The president may submit questions to national referenda and can dissolve the National Assembly. In certain emergencies, the president may assume special, comprehensive powers.

Today, France is at the forefront of European states seeking to exploit the momentum of monetary union to advance the creation of a more unified and capable European political, defence and security apparatus.

Dirigisme came to be highly contested in the 1980s, with complaints of bureaucracy and lack of reactivity to new challenges. As a result the government largely retreated from economic intervention; Dirigisme has now essentially receded. Despite significant reform and privatization over the past 15 years, the government continues to control a large share of economic activity: Government spending, at 53% of GDP in 2000, is the highest in the G-7. Labour conditions and wages are highly regulated. The government continues to own shares in corporations in a range of sectors, including banking, energy production and distribution, automobiles, transportation, and telecommunications.

Current President Jacques Chirac assumed office May 17, 1995, after a campaign focused on the need to combat France's stubbornly high unemployment rate. The center of domestic attention soon shifted, however, to the economic reform and belt-tightening measures required for France to meet the criteria for Economic and Monetary Union (EMU) laid out by the Maastricht Treaty. In late 1995, France experienced its worst labor unrest in at least a decade, as employees protested government cutbacks.

Starting with the 19th century, the historical evolution of the population in France has been extremely atypical in the Western World. Unlike the rest of Europe, France did not experience a strong population growth in the 19th century and first half of the 20th century. Conversely, it experienced a much stronger growth in the second half of the 20th century than the rest of Europe or indeed its own growth in the previous centuries.

France's founding membership in the European Union largely defines France's current foreign policy. The French Republic is furthermore a member of the Secretariat of the Pacific Community (SPC) and of the Indian Ocean Commission (COI), and an associate member of the Association of Caribbean States (ACS). France is also a leading member or the International Organisation of Francophonie (OIF) which gathers 51 fully or partly French-speaking countries.

While France continues to revere its rich history and independence, French leaders increasingly tie the future of France to the continued development of the European Union (EU). During President Mitterrand's tenure, he stressed the importance of European integration and advocated the ratification of the Maastricht Treaty on European economic and political union, which France's electorate narrowly approved in September 1992.