China’s Aid on Europe is Uncertain

As reported by WSJ’s Aaron Back and Esther Fung, Chinese Premier Wen Jiabao voiced support for Europe but offered no new specific help for the debt-battered continent, and emphasized China‘s own demands that European leaders take “bold steps” to improve economic ties with the Asian giant. The associated issues will be discussed more in detail at Golden Networking‘s China Leaders Forum 2011, October  7.

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Speaking Wednesday at a World Economic Forum meeting in this northeastern coastal city, Mr. Wen gave the U.S. and Europe a vote of confidence, saying he believes they will overcome their current economic difficulties. He said the focus must now be on preventing the further spread of the European sovereign debt crisis.

China believes the EU will be able to overcome its difficulties and China remains willing to expand its investment in the EU,” Mr. Wen told the audience of global business leaders. “We have on many occasions expressed our readiness to extend a helping hand.”

But Mr. Wen gave no indication of what specific support or investments China is prepared to undertake for Europe. And his comments came as current and former advisers to China‘s central bank stressed the need for caution in investing in troubled European countries.

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