| China ready to rescue Spain |
 |
 |
 |
|
(January 4, 2011) CHINA is willing to make "positive efforts" to help Spain with its economic recovery. Its ambassador to Madrid confirmed the news yesterday as a top Chinese official prepared for a visit. Vice-Premier Li Keqiang will pay a three-day visit to Spain from today for talks likely to touch on Spain's financial woes amid fears of a sovereign debt crisis in Europe, China's biggest export market. Mr Li's meetings with Prime Minister Jose Luis Rodriguez Zapatero and Finance Minister Elena Salgado will "play a key role" in financial stabilisation, Xinhua news agency quoted ambassador Zhu Bangzao as saying. Their talks will focus on expanding trade and economic co-operation and will also help "restore market confidence", Mr Zhu said. The Spanish economy, the EU's fifth largest, slumped into recession during the second half of 2008 as the global financial meltdown compounded the collapse of the once-booming property market. China has pledged to help support struggling eurozone economies against the threat of a debt crisis after Greece and Ireland were forced to resort to international financial bailouts. A Chinese Foreign Ministry spokeswoman said last month Europe would be a "major market" for investment of Beijing's massive foreign exchange reserves. China has pledged to buy bonds from Greece and Portugal. Mr Li, who is widely tipped to become China's next premier, will also visit Britain and Germany during his trip to Europe. (Source:theAustralian) |
Follow Us on Facebook
News
Australia could be a capital 'safe haven（May 18,2012） EUROPE'S economic turmoil could turn Australia into a safe haven for global capital, former Treasury secretary Ken Henry says. Mr Henry said the unfolding economic crisis in Europe will create ... READMORE |
Victorian prison project in trouble（May 17,2012） UNIONS have called on the Victorian government to intervene in the Ararat prison development after builders were unable to pay contractors. The $400-million public-private partnership project may be up to ... READMORE |
Dollar falls below parity, hits five-mon（May 16,2012） THE dollar fell below parity with the US dollar for the first time in almost five months, as political uncertainty in Greece and signs of an economic slowdown in ... READMORE |
Australian consumers in crisis mode（May 15,2012） MORE than half of all Australians feel they have been personally affected the global downturn, despite the nation's strong economy. Some 58 per cent of respondents said they believed they ... READMORE |
Australian consumers in crisis mode（May 14,2012） MORE than half of all Australians feel they have been personally affected the global downturn, despite the nation's strong economy. Some 58 per cent of respondents said they believed they ... READMORE |
Yahoo! CEO Scott Thompson says sorry for（May 11 ，2012）YAHOO! CEO Scott Thompson says he is sorry for allowing an inaccuracy about his education to appear in his official biography, but not remorseful enough to heed calls ... READMORE |
Substance to OneSteel's new direction un（May 10 ，2012）IT'S appropriate that OneSteel holders today used a futuristic hand-held gizmo to vote to change the company's name to Arrium, which is an ancient Incan term for "anything ... READMORE |
Trade deficit doubles as growth in impor（May 09 ，2012） AUSTRALIA posted a seasonally adjusted trade deficit of $1.59 billion in March, compared with a deficit of $754 million in February, the Australian Bureau of Statistics said today. Economists ... READMORE |
Trade deficit doubles as growth in impor（May 09 ，2012） AUSTRALIA posted a seasonally adjusted trade deficit of $1.59 billion in March, compared with a deficit of $754 million in February, the Australian Bureau of Statistics said today. Economists ... READMORE |
Australian shares inch higher after loss（May 08 ，2012） AUSTRALIAN shares edged higher today ahead of the Federal budget announcement, as calm returned to markets following a heavy sell off in the previous session. The S&P/ASX 200 index ... READMORE |
|
More in: News
|
- + 3 |
Subscribe RSS feed
