EU Calls On China to Help Rebuild its Struggling Economy

EU Calls On China to Help Rebuild its Struggling Economy

EU Calls On China to Help Rebuild its Struggling Economy

Cooperation with China could help the European Union (EU) to rebuild and strengthen its economy, National Bank of Hungary Governor Gyorgy Matolcsy said Monday.

The EU needs to build political, intellectual, financial and human bridges between the EU and China, he said at the Lamfalussy Conference in Budapest.

The EU, Matolcsy said, needs financial stability and job creation, but it cannot achieve this with austerity measures.

He proposed strong bridges between the EU and Asia, with China at the center of cooperation and initiative.

Bank of China Chairman Tian Guoli discussed the various advantages of linking East Asia with the Middle East, Africa, and Europe at the conference.

Tian noted that the full connection of the European and Asian markets would create the world’s longest economic corridor, for the 2 regions complemented one another.

Addressing the conference among the dignitaries, Hungarian Prime Minister Viktor Orban called China “a fixed star” that would define the world economy for many decades to come.

Regarding Europe’s ties with Russia, Mr. Orban said that sanctions against Russia had “failed,” saying Europe should not ignore either the power or the opportunities inherent in Russia.

By  Mu Xeuqan

Paul Ebeling, Editor

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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