France weighs very heavily. With Germany, they led the move earlier this year for the investment deal with China. The decision was made to become reliant on China, and the pandemic significantly worsened this dependency because China's faster recovery essentially mitigated the economic effect of the pandemic.

But it was a choice. Germany's politics appears to have been totally compromised at the highest level by Russia and China (Scholz seems to have been hand-picked by China, his positions on China couldn't be more worrying regardless of what he has said in the past month). France is moving in the same direction, although it is hard to separate this from the profound weakness of Macron.

There is no equivalence with the US either. The French position (and German) position on Iran makes no sense, it is the equivalent of: pretend the problem doesn't exist, and it won't exist (again, with policy being led by business interests). The interests of the US overlap totally with the EU, the US has been funding European defence for decades to the tune of tens of trillions but, of course, France and Germany will continue to nuzzle up to Iran, China, and Russia because they waved their chequebook in front of exporters in economically weak regions.

The only saving grace has been the EU which has effectively counterbalanced France and Germany in these areas (they stopped the investment deal with China). But, again, the policy positions of France and Germany are incomprehensible. It is not that France is insignificant but that their policy is totally at odds with the US and the EU. The reason they aren't opposing China is because there is a strong desire to support China.