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People's Daily Online>>Foreign Affairs

Merkel in Beijing amid debt crisis

By Zhu Shanshan (Global Times)

08:30, February 02, 2012

German Chancellor Angela Merkel is set to arrive in Beijing today for a two-day visit in which the eurozone debt crisis and China's oil imports from Iran could be the topics up for discussion.

Merkel will hold talks with President Hu Jintao and Premier Wen Jiabao. She will also make a key speech on the eurozone debt crisis at the Chinese Academy of Social Sciences (CASS), a key think-tank based in Beijing.

A German government source told AFP that Merkel plans to meet investors and canvass for increased confidence in Europe with an eye on an EU-China summit later in the month.

"China has repeatedly stressed its interest in a stable euro. It is in China's interests, too, that Europe returns to growth," the source said Wednesday, adding that there will also be discussion on possible increased Chinese involvement in the International Monetary Fund (IMF).

Jürgen Matthes, a senior Economist at the Cologne Institute for Economic Research, told the Global Times that during the visit, Merkel is very likely to seek help from China to deal with the eurozone crisis.

"There will be some hope that China will contribute to the enlargement of IMF's available funds so that the organization can be more capable of helping the world economy, especially the eurozone," Matthes said.

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  1. Name

PD User at 2012-02-0480.94.16.*
2012-2-3.Time of China.Merkel not any money.First-to abolish all technology embargo against China.Two-the end aggressive wars.Three-to accept new formula free trade and market.
Chinhomiah at 2012-02-03124.197.96.*
I maintain now, as I have done in the past, that it is not prudent for China to throw good money at bad one. There is simply no telling the extent of the European debt problem, and Beijing would be better off spending her hard-earned money within China. This include building up sufficient pension funds in the light of an aging population. The stock markets of China are set to grow considering the recentness of China"s development and the room for further growth. Prudent investments by government pension funds in the Chinese stock markets will reap hefty returns, compared to the risks inherent in buying more European debt instruments. If Beijing is so inclined, devise a payback scheme where Chinese citizens are given shares in quality government-linked companies once every two years, with the stipution that those shares can be cashed out upon the attainment of age 50. In this way, not only will China have given its people a vested interest in the continued development of its Socialism with Chinese characteristics, but also strengthen the bonds between the people and the CCP.
Chinhomiah at 2012-02-03124.197.96.*
I maintain now, as I have done in the past, that it is not prudent for China to throw good money at bad one. There is simply no telling the extent of the European debt problem, and Beijing would be better off spending her hard-earned money within China. This include building up sufficient pension funds in the light of an aging population. The stock markets of China are set to grow considering the recentness of China"s development and the room for further growth. Prudent investments by government pension funds in the Chinese stock markets will reap hefty returns, compared to the risks inherent in buying more European debt instruments. If Beijing is so inclined, devise a payback scheme where Chinese citizens are given shares in quality government-linked companies once every two years, with the stipution that those shares can be cashed out upon the attainment of age 50. In this way, not only will China have given its people a vested interest in the continued development of its Socialism with Chinese characteristics, but also strengthen the bonds between the people and the CCP.
Hammad Sethi at 2012-02-0392.25.130.*
Merkel is not naive enough not to understand that China knows that West is against any Asian progressing country including both Iran and China. Asia will only advance as a whole. And all Asians have to stick together to make the Asian century work. Western loss is Asian gain, due to the confrontational nature of European thinking.
Mishra,India at 2012-02-022.50.224.*
Merkel is playing Sarkozy now ,so sad ,all Europeans leaders are pimping on behalf on US.She is in China :To ask for Money & to pressurize China against Syria veto.She is not there for China for sure.
  

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