Spectator on facebook

Spectator on facebook

FOCUS SHORT

China and EU: Friends with issues

CHINA and Japan both pledged to help the sovereign debt-ridden eurozone on condition that their assistance would be provided through the International Monetary Fund and the eurozone's own institutions – the European Financial Stability Facility and the future European Stability Mechanism.Both countries were also adamant that eurozone countries had to do more to help themselves.

CHINA and Japan both pledged to help the sovereign debt-ridden eurozone on condition that their assistance would be provided through the International Monetary Fund and the eurozone's own institutions – the European Financial Stability Facility and the future European Stability Mechanism.
Both countries were also adamant that eurozone countries had to do more to help themselves.

Despite its public promise, Beijing has so far refused to be more concrete about the exact sum it would be willing to provide to aid the euro area. Critics say that the deal should concentrate on trade and investment rather than in pouring money into the eurozone's bailout fund.

Japan and China's commitments came on the heels of an EU-China summit that also discussed the EU’s controversial carbon tax on foreign-based airlines, which could trigger a trade war.

Earlier in February China banned its airlines from joining the EU's Emission Trading Scheme that the EU requires of all airlines that take off and land at airports within the European Union.

China has a powerful ally in the United States, as both countries argue that the EU rule is a violation of their sovereignty.

The EU runs the largest carbon trading market in the world.

Topic: Finances and Advisory


Top stories

UPDATED: Slovakia’s Kuzmina wins Olympic gold Video

The Slovak biathlete dominates the 12.5km race at this year’s Winter Olympic Games in PyeongChang.

Anastasiya Kuzmina

Slovakia ends last in its preliminary group Photo

Slovenia defeated the Slovak team on shootouts.

Slovak archaeologists discover a key to understanding the Maya

Revolutionary laser technology has changed the view of current knowledge about the ancient Mayas. Slovak experts' findings are part of a major breakthrough in Maya archaeology.

Slovaks participate in a major breakthrough in Maya archaeology.

Will Kiska run for president?

Media reports suggest that Andrej Kiska will not run again. How does the situation look one year ahead of presidential election?

President Andrej Kiska