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China holds over €2 trillion in foreign currency reserves, giving it a vested interest in protecting the euro (Photo: dolmansaxlil)

China to EU: We'll back the euro if you open your markets

China has offered to help save the euro in return for getting EU recognition as a 'market economy' - a new status that would help it to export more cheap goods to Europe.

Chinese premier Wen Jiabao made the offer at a meeting of business leaders and officials organsied by the World Economic Forum in Dalian, China, on Wednesday (14 September).

"European countries are facing sovereign debt problems and we've expressed our willingness to give a helping hand many times. We will conti...

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Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

China holds over €2 trillion in foreign currency reserves, giving it a vested interest in protecting the euro (Photo: dolmansaxlil)

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Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

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