Europe on a Chinese Shoestring
For months, EU leaders and IMF officials have been hoping that China would lend a hand to save the euro. But China will give nothing unless the EU makes certain concessions, including conferral of market-economy status.
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BEIJING – Will China help to rescue the euro, or not? In August, Premier Wen Jiabao said that China was ready to assist Europe in its hour of need. But, in December, at the Lanting Forum in Beijing, Deputy Foreign Minister Fu Ying declared that China could not. “The argument that China should rescue Europe does not stand, as reserves are not managed that way,” she announced.