China is very likely to contribute to the eurozone’s bail-out fund but the scope of its involvement will depend on European leaders satisfying some key conditions, two senior advisers to the Chinese government have told the Financial Times.
When China announced a nearly $600 billion package to ward off the 2008 global financial crisis, city planners across the country happily embarked on a frenzy of infrastructure projects, some of them of arguable need.
The defining geopolitical drama of the next century will be the battle for power and influence between China and America. That emerging struggle is already posing awkward choices for Asian countries, caught between the two global giants. Continue reading »
Beijing accuses U.S. senate of “politicising” trade issues
A U.S. bill to pressure China into letting its currency rise in value, which has drawn warnings from Beijing of a possible trade war, ran into opposition from the top Republican in Congress on Tuesday.
Mr Wen said he had spoken to José Manuel Barroso, the president of the European Commission, laying the conditions for Chinese intervention. Photo: Reuters
China has called for major strategic concessions from Europe before agreeing to rescue the eurozone, chilling hopes for immediate purchases of Italian bonds.
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China announced on Monday it will provide $1 billion in loans to Caribbean countries to finance infrastructure projects as it deepens ties in a region historically linked with the United States.
Italy’s centre-right government is turning to cash-rich China in the hope that Beijing will help rescue it from financial crisis by making “significant” purchases of Italian bonds and investments in strategic companies.
Workers are seen on the deck of China’s first aircraft carrier, which finished its maiden sea trial and arrived at Dalian Port, Liaoning province August 14, 2011.
Credit: Reuters/China Daily
China’s state news agency on Thursday condemned a Pentagon report on China’s growing military might, calling its account of Beijing’s weapons modernization drive an alarmist “cock-and-bull story.”
The man who leads one of China’s top rating agencies says the greenback’s status as the world’s reserve currency is set to wane as the world’s most powerful policy makers convene to examine the implication of S&P’s decision to strip the United States of its triple “A” rating.
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