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Merkel to seek China help with debt crisis during visit
Published in Saudi Press Agency on 28 - 08 - 2012


German Chancellor Angela Merkel hopes to win
China's help in heading off Europe's debt crisis during a two-day
visit to the world's second biggest economy this week, dpa quoted officials in
Berlin as saying Tuesday.
Germany wants China to use its clout at the International Monetary
Fund to help solve the crisis. The IMF has contributed money to
bailout Portugal, Ireland and Greece.
Beijing's help in bringing the crisis to an end includes Chinese
investors possibly buying up government bonds of eurozone nations at
the centre of the crisis.
This includes the bonds of nations such as Spain and Italy, which
officials in Germany said were attractive to Chinese investors
because of their current high interest rates.
Merkel is to head up a top-level delegation based on seven cabinet
members - including the finance, foreign and economics ministers.
The first such high-level consultation between China and Europe's
biggest economy took place when Chinese Premier Wen Jiabao led a
delegation to Berlin in June 2011.
Broader economic and political questions are also likely to be on
the agenda during Merkel's visit to China, which starts on Thursday.
The talks between the leaders of the world's two top exporting
nations come amid signs that their economies are slowing.
Berlin officials said the thorny question of greater foreign
exchange rate flexibility in China might also be raised during the
chancellor's visit.
Merkel, who flies to China on Wednesday, also wants to speak
openly with the Chinese leadership about the ongoing conflict in
Syria.
She hopes to press Beijing to forgo its blockade in the United
Nations' Security Council resolutions aimed at ending the bloodshed.
Germany wants an agreement on humanitarian aid to Syria, which
would include China providing financial assistance to Syrian
refugees.
European aircraft maker Airbus is also confident of securing
further new orders in China, according to German official sources.
The chancellor and Wen are to visit an Airbus factory in the Chinese
city of Tianjin on Friday.
During her visit, Merkel is also scheduled to meet Wens' likely
successor, Li Kequiang as well Xi Jinping, who is expected to emerge
as China's new state and party chief in October.


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