Chinese Leader Hu Meets French President, Bailout Still Uncertain
- 12 years ago
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Chinese Communist Party head Hu Jintao is in France, where he's had a meeting with President Sarkozy ahead of the current G20 summit.
Under discussion is a controversial proposal for Chinese investment in the EU's financial bailout fund.
A major item under discussion at the G20 summit is Europe's bailout plan, to deal with massive debt and instability, largely centered on Greece.
Chinese regime leader Hu Jintao arrives as his administration is being actively wooed to invest in this bailout effort. However, it's unclear whether even one-on-one meetings like the one he had with French President Sarkozy will lead to large-scale investment.
One major obstacle is Chinese domestic opinion, which seems overwhelmingly against the idea of using China's surplus funds to bailout foreign nations--rather than to improve conditions at home. One source close to China's top leaders told the Reuters news agency that "domestic pressure (on China's leaders) is huge," and that "ordinary people are condemning" any bailout plan.
China's communist leaders have been wary of taking any action that could lead to Arab Spring-style unrest. So they may also be concerned about opinions published online like "This is the people's blood and sweat money that is being used to bail out gluttonous and lazy Greeks."
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Chinese Communist Party head Hu Jintao is in France, where he's had a meeting with President Sarkozy ahead of the current G20 summit.
Under discussion is a controversial proposal for Chinese investment in the EU's financial bailout fund.
A major item under discussion at the G20 summit is Europe's bailout plan, to deal with massive debt and instability, largely centered on Greece.
Chinese regime leader Hu Jintao arrives as his administration is being actively wooed to invest in this bailout effort. However, it's unclear whether even one-on-one meetings like the one he had with French President Sarkozy will lead to large-scale investment.
One major obstacle is Chinese domestic opinion, which seems overwhelmingly against the idea of using China's surplus funds to bailout foreign nations--rather than to improve conditions at home. One source close to China's top leaders told the Reuters news agency that "domestic pressure (on China's leaders) is huge," and that "ordinary people are condemning" any bailout plan.
China's communist leaders have been wary of taking any action that could lead to Arab Spring-style unrest. So they may also be concerned about opinions published online like "This is the people's blood and sweat money that is being used to bail out gluttonous and lazy Greeks."