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Reply #17: China Signals Reluctance to Rescue E.U. MUST READ [View All]

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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-05-11 07:45 AM
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17. China Signals Reluctance to Rescue E.U. MUST READ
http://www.nytimes.com/2011/12/05/business/global/china...

The Chinese government over the weekend sought to tamp down international expectations that Beijing might use its large financial reserves to help ease the European debt crisis.

The two government agencies that control the reserves face heavy restrictions on their use, Chinese government officials and economists said.

The argument that China should rescue Europe does not stand, as reserves are not managed that way, Chinas vice minister for foreign affairs, Fu Ying, said in comments prominently reported by the state news media over the weekend.

Ms. Fus statements were significant because Chinese diplomats and political leaders had been less publicly hostile to the idea of helping Europe than Chinese economic policy makers, who had been strongly opposed...
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