-China ready to buy EU bonds.
Global Banking News - 31 August 2012
According to Reuters, China Premier, Wen Jiaobao said that China was ready to buy more European Union (EU) bonds if the situation demanded it.
This is a strong sign of support from China, which had not acquiesced to a request for funding from Europe the previous year. The debt crisis in Europe, which is the largest market for exports from China, triggered an economic slowdown, which was the worst in China for three years.
The Chinese premier stated that the two main worries for the EU were, firstly, if Greece would continue to be part of it, and secondly, if Spain and Italy would take any comprehensive measures to resolve the crisis.
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