China’s fears grow over eurozone crisis
Aug 31, 2012 6:38:18 GMT -5
Post by popcorn on Aug 31, 2012 6:38:18 GMT -5
China’s fears grow over eurozone crisis 
China has expressed deep alarm at the escalating crisis in Europe and warned against austerity overkill as Europe's crumbling demand sends shock waves through Asia.
Premier Wen Jiabao told German Chancellor Angela Merkel that Europe must "strike a balance" between fiscal tightening and measures to promote growth. "Europe's debt crisis has continued to worsen, giving rise to serious concerns in the international community. Frankly, I am also worried," he said.
His comments mark a shift in Chinese policy. Beijing has until now backed austerity across Euroland, but the severity of China's own downturn has begun to rattle policymakers.
read more:
www.telegraph.co.uk/finance/financialcrisis/9510058/Chinas-fears-grow-over-eurozone-crisis.html
China has expressed deep alarm at the escalating crisis in Europe and warned against austerity overkill as Europe's crumbling demand sends shock waves through Asia.
Premier Wen Jiabao told German Chancellor Angela Merkel that Europe must "strike a balance" between fiscal tightening and measures to promote growth. "Europe's debt crisis has continued to worsen, giving rise to serious concerns in the international community. Frankly, I am also worried," he said.
His comments mark a shift in Chinese policy. Beijing has until now backed austerity across Euroland, but the severity of China's own downturn has begun to rattle policymakers.
read more:
www.telegraph.co.uk/finance/financialcrisis/9510058/Chinas-fears-grow-over-eurozone-crisis.html