Depaw Business Track

Posts Tagged ‘China’

China Worried European Debt Crisis will Affect Trade

China’s Ministry of Commerce expressed their concern that Europe’s debt crisis could lead to trade friction and hinder exports from China. The comments came after European countries are being hit by the debt crisis to blame Beijing for alleged trade barriers. Meanwhile, China also urged the EU to give China a chance to compete in global markets under world trade rules that can eliminate barriers to trade.

EU current crisis is feared to sharpen the occurrence of bilateral trade friction, thereby potentially adverse economic and trade relations between China-EU. “Of course, we believe there is always opportunity in crisis. Each person can work hard together to turn crisis into opportunity,” said the minister of trade.

Beijing is also under pressure from Washington and other trading partners to stop fixing the exchange rate that makes the value of the yuan undervalued and encourage China’s trade surplus. China’s government has allowed its currency to strengthen, but not as fast as observers.

U.S. Trade Representative Ron Kirk is also planning a “major trade pressure” against China. The Chinese government was disappointed that his country has not been recognized as a market economy country by the European Union, despite its rapid economic transformation.

“After 30 years of reform and opening up, China has made a major transformation of guided economy to a market economy, but the EU still does not provide a full market economy status. That’s why the government feels very disappointed,

The Chinese capital investment in the sector would be “very important” and in this context, it has been worth the commitment of Prime Minister Wen Jiabao, yesterday announced that state agencies will invest in Spanish savings banks.

Also stressed China’s interest by Spanish infrastructure and, in particular, for the privatization of 49 percent of AENA, the private management of the major airports in the country and the plan of public-private collaboration in large projects.

As noted, there is also an important field of cooperation between Chinese and Spanish in Spain, in Europe and in Latin America where Spanish firms can increase their presence in China funding.

“Latin America and China are very interested to know that a good way to reach Latin America is going through Spain,” he insisted.

Six of the ten construction companies who have more awards of public works in the world are Spanish, recalled.

Zapatero is aware that if a country has a strong presence in China and “positioning” in Asia in the medium term “Left Behind” and considered that Spain now has a “strategic project” on the continent.

The Chinese premier, Wen Jiabao, today pledged to the Spanish Prime Minister Jose Luis Rodriguez Zapatero, Spanish debt to keep buying, as it has in the last stage of financial and economic crisis, and investing in restructuring savings.

Zapatero started his meeting with Wen to visit China and thanked the support that Spain has received the Asian giant when he succeeded the financial turmoil and rumors about the instability of the Spanish economy.

According to informed sources of the Spanish after the meeting, Wen pointed out that last year China bought Spanish debt twice to show his confidence in the country and ensured that want to strengthen that confidence because “Spain is the best friend of China Europe.

During their meeting at the Palacio de la Luz Violeta, Zapatero thanked both good news from China, which is already available around 25,000 million euros in Spanish debt, more than 12 percent of the total, according to data of the Spanish delegation.

Accompanied by Minister of Industry, Miguel Sebastian, has been invited to Beijing to participate in the privatization of airports and ports projects that Wen has been very concerned.

Wen also stressed their desire to increase imports of Spanish goods, including agricultural products.

Along the same lines, Zapatero has opted to boost the tourist trade and has been suggested to stimulate the interest of Chinese visits Spain with football clubs and Spanish chefs to China.

In a few words to the media before holding its meeting in camera, Zapatero has made clear that China has behaved like a “good friend” of Spain in “turning” when it has encountered difficulties in the financial crisis “fortunately are solvent.”

“Two countries know the true friendship in adversity, as we know the green of pine in the depths of winter,” Wen stressed.

The Chinese premier pointed out how when Spain “encountered difficulties” his country closely followed the situation and did “everything possible to help Spain” support which, in his view, is mutual and always “honest friendly and unselfish. “

“The only principle we pursue is mutual respect, profit sharing and reciprocal good,” he stressed.

In this context, Zapatero has stressed the friendship between the two countries, whose political, economic, commercial and cultural, he said, are in a growth stage and wants to further boost with the visit.