Chinese Premier Demands More Euro Action

commentary by Roger Erickson

http://www.guardian.co.uk/business/2012/aug/30/eurozone-crisis-merkel-china-debt-talks?newsfeed=true

What do you suppose that means? They want reassurances that whatever China invests in will be safe?

Here's the context. First, the person he's speaking to, summarizing how she'd answered the good Premier's questios.

Where there's a will.....

Angela Merkel's message to China is that the eurozone has an "absolute political will" to solve the crisis.

[Uh ... she might want to clear that with the people on the streets in Athens.]

She made the comments after her meeting with Wen Jiabao this morning.

Merkel has a two-fold mission.

1) to ressure Beijing that the euro crisis is in hand, thus encouraging them to keep buying European debt

2) to build trade links with China.

On that second point, several business deals were signed. As well as Airbus's 50-plane deal (see 8.38am), the conglomerate has also agreed to invest $1.6 billion in a new assembly plant in Tianjin, while Volkswagen is investing $219 million in an "environmentally friendly production facility" and vocational training initiative, also in Tianjin (Wen's home city)

Translation: China's elites & Europe's elites signed more deals agreeing to co-own both regions?  Is this rather like the infamous deal between an early Pope & germanic war chiefs to "invent" Royalty as permanent war chiefs?

Now on to the good Premier's own comments.


Wen Jiabao urges more action on euro crisis

Here's the full quotes from Chinese premier Wen Jiabao this morning, expressing his concern over the situation in the eurozone and calling for more action

"The European debt crisis has continued to worsen, giving rise to serious concerns in the international community. Frankly speaking, I am also worried.

The main worries are two-fold: first is whether Greece will leave the eurozone...The second is whether Italy and Spain will take comprehensive rescue measures. Resolving these two problems rests with whether Greece, Spain, Italy and other countries have the determination for reform."

Wen also said that solving the crisis required a two-fold strategy of "fiscal tightening", and rebalancing individual country's economies.


Translation: China's elite is siding with Germany's elite, to secure dominance of both China & Europe?  Is this foreign policy, or political racketeering?

Do you suppose Wen is wondering why Bonn can't control Europe the same way that Beijing controls China?  Is he comparing Greece to his view of Tibet & Taiwan?