China helps ease euro debt crisis (2)

08:48, January 12, 2011      

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"The purchase is certainly perceived as a positive gesture, but it will not take away the worries about the deeper structural impact of Chinese growth," Gustaaf Geeraerts, vice dean of the Faculty of Economic, Social and Political Sciences at the Vrije Universiteit Brussel, said in an e-mail to the Global Times.

"To do away with these fears, China will have to make its market more accessible, also for services, (as well as) open up its public procurement and improve the protection of intellectual property rights," he said.

"China's ascent engenders not only a fundamental change in the distribution of power and influence but also, in another sense, engenders a change in the distribution of identities."

"Understandably, the EU would prefer to integrate China in the global governance structures it helped establish and safeguard in the past few decades, and hope for a reproduction of the existing system," he added.
Zhang Shengjun, a professor of international politics at Beijing Normal University, told the Global Times that European countries need China's cash to overcome the debt crisis.

"China needs Europe in the sense that Europe is a key part of its global strategic deployment. A closer Sino-European relationship can balance increasing influence of the US in Asia, to some extent," he said.

However, Shi Zhiqin, a professor of European studies at Tsinghua University, denied that China has a hidden reason for wanting to warm ties with EU countries, such as balancing Sino-US relations.

"China won't use Europe or any other country to balance the US' Asian strategy, and China will not ignore its relations with the US or other countries simply because its relations with the EU become warmer," he said.

Liu Linlin, Huang Jingjing and agencies contributed to this story

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