China moves to aid Greek economy

Deutsche Welle reports that China is increasing its role in the ongoing Euro crisis:

Speaking in Athens at the start of his two-day visit, Chinese Prime Minister Wen Jiabao told reporters that Beijing intends to buy bonds issued by Greece and looks forward to developing trade relations between the two countries.China announces fund for buying Greek ships

“China will make a big effort to support the eurozone economy and Greece,” Wen said at a joint press conference with Greek Prime Minister George Papandreou. . . .

After signing agreements on investment and tourism with his Greek counterpart George Papandreou, Wen announced the creation of a 3.6-billion-euro fund to help finance the purchase of Chinese ships by Greek shipping companies.

Yet another step on China’s path towards an ever larger role in global economic affairs.

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