"Wen said China also planned to provide a $5 billion credit line to Greek shipowners to help boost the purchase of Chinese-built vessels".
China is not only working with Greece improve its economy but Wen Jiabao seems to be visiting many other EU countries that have been hit with the recent recession and is making deals and agreements on helping them recover too.
Why do you think China is taking it upon them to get countries back in to the global market?
2 comments:
I am sure that China is looking to expand its global market and thus not solely relying upon the US for their export revenues. China's step into the European countries sounds entrepreneurial and opportunistic. I am sure that this is an attempt to ease the US's pressure to appreciate its yuan currency.
I agree with Mesaban. I think China is taking this chance to step into a position of trade with Europe much like that it has with the US. This would ease the pressure the US can put on China through economic means. It may also signal a shift in China's support of the US dollar to the Euro. Ultimately only China knows what their true intentions are, but it is likely that they are acting in their own self-interest.
Post a Comment