China abroad 中国的海外投资
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America needs to worry about the contrast between its attitude to China and Europe’s
Jun 30th 2011 | from the print edition
IN EUROPE, the red carpet. In America, a red mist. This week’s tour of European capitals by Wen Jiabao, China’s prime minister, underlined the stark transatlantic difference in responses to China’s economic clout. European leaders, caught up in the euro area’s crisis, want China to buy more of their debt; American politicians worry that it owns too much of theirs. For European politicians the value of the yuan is one worry among many; it sometimes feels like Americans can think of little else. In Europe, Chinese firms are broadly welcome; in America, they are often viewed with suspicion.
Europe’s receptiveness to China is born partly of weakness. Delegations from peripheral euro-zone countries have been flying into Beijing to seek buyers of their debt. Fixers working for Chinese companies report a steady stream of inquiries from cash-strapped European firms. But even among Europe’s stronger economies, the political bias is to promote investment from China, not deter it.