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Helping Europe is 'helping ourselves': Premier Wen

(Shanghai Daily)

09:17, February 06, 2012

CHINA has a stake in helping eurozone countries get through their debt crisis, Premier Wen Jiabao said in comments published yesterday, pointing to Europe's importance as a market and hinting at more possible support for beleaguered exporters.

Wen's remarks built on comments he made during German Chancellor Angela Merkel's recent visit to China, when he said Beijing was considering increasing its participation in rescue funds to address the European debt crisis.

This time, Wen urged skeptical Chinese citizens to understand that supporting Europe was also in their own benefit.

"Now Europe is facing a debt crisis and we must consider relations with Europe strategically to protect our national interests," Wen said while visiting the export-dependent southern Chinese province of Guangdong.

The Chinese premier's latest comments on the euro crisis again did not include any specific commitments to European economies. But he stressed the stake that China holds in defusing the situation.

"On the one hand, our biggest export market is Europe," said Wen. "On the other hand, Europe is our biggest source for importing technology.

"From this perspective, helping to stabilize European markets in fact amounts to helping ourselves. We must make all quarters of society understand this point."

China's exports to advanced economies, including Europe, have been hit by their continued woes, and Wen said domestic manufacturers would have to adapt and open up new markets. He also hinted that more support might come.

"Import and export policy must maintain overall stability," said Wen in a discussion with Guangdong manufacturers.

"If there must be adjustments, it should be more in the form of encouragement than restrictions," said Wen.


Leave your comment5 comments

  1. Name

Ernest in USA at 2012-02-0768.77.27.*
Premier Wen complains about US military power in Asia, then he talks about stabilizing Europe (which will include the US banking system). Big mistake sir. As a patriotic American who wants to see his White race freed from Jewish racist domination, I and other patriots would like nothing better than to see our economies crash so that we could have a popular uprising against these power mad people. True American patriots do NOT want our military forces to police this world. We do not want our troops in Asia, Africa, Latin America, or even in Europe. We"re sick and tired of watching our people be manipulated by the Jewish controlled media into supporting all of these wars for Israel, as well as being the worlds policemen. If China wants the US out of Asia, then it should do everything it can to crash the US and Euro economy. This will only hurt China temporarily, in the long term it will be a great benefit to China.
Pa,India at 2012-02-062.50.224.*
Help but abstain from buying any of their debt.
helen at 2012-02-06203.82.82.*
In the geo-political and geo-economic games, China has to help the EU in some aspects.Both the United States and its fifth column - the piggy-backing United Kingdom in the EU midst, are out to undermine the Euro so as to continue the use of the Weimar US$ as the World Reserve Currency! And both these countries know very well that the demise of the US$ would herald the beginning of the end of US Global Tyranny - something entirely not acceptable to these two evils.Restraint on buying Eurozone debt is prudent but China investment in EU would help to reduce its US$ foreign reserves before the United States make a fool of every Central Bank in the World by going to the printing press more and more often.
Richard at 2012-02-0660.49.122.*
>Helping Europe is "helping ourselves": Premier Wen<Helping our rural and urban poor, however, is a waste of money. We should help Europe more and our own people less. Wen is a patriot.
wende at 2012-02-0671.255.83.*
Wen is wrong about this. EU is not worth the helping hands of China as many times they bite China"s hand when they are being fed. China ought to be careful about being fooled and overstretch China"s capability. These whites are surely very tricky. They beat Chinese in trickiness.

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