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Xinhua: China will not Rescue Europe

Xinhua reported on December 10 that the Chinese Deputy Minister of Foreign Affairs, Fu Ying, stated in Vienna that China is not in the business of “rescuing” Europe. Fu offered her opinion when she was visiting Europe and suggested that China is an active participant of Europe’s effort to fight the debt crisis. She said the word “rescue” was misleading. Since the European Union is the world’s largest economy with strong economic power and a much higher living standard than developing countries, it does not need a “rescuer.” Fu expressed her belief in a strong Euro and Europe’s ability to resolve the crisis. She emphasized the point that China does not intend to use financial tools to “control” any European country. She called for a “good investment environment in Europe” for investors from developing countries.

Source: Xinhua, December 11, 2011