欧洲危机对中国的影响

The 2012 China Financial Summit was held Thursday mainly discussing the impact of the EU crisis on China's trade and how China should deal with the current crisis.

It’s been more than 3 years since the outbreak of the global financial crisis and the sovereign debt crisis in the euro zone. Their impact on the global economy is still affecting most of the world today, especially the export-driven economy of China. Experts also believe the impacts have become much more serious.

Europe is one of China’s biggest trade partners. The primary products China exports are textiles, coal, machinery, tea and rice. But the tough austerity measures in the euro zone have reduced the external demand for its goods, leading to a further reduction in exports. According to the Ministry of Commerce, in 2011, China increased its export rate by 22.8%. That is 1.7 points lower than the average growth. But one expert has a different view on the impact of the EU crisis on China.

David W. Carbon, managing director of Economic & Currency Research, DBS Bank, said, "Generally, we are optimistic about the risks from the EU to Asia. We have just gone through a crisis in late 2008 and 2009, we have learned a lot from that crisis, but there are ways that the crisis get transmitted from Europe to Asia, most of these routes we have learned a lot from the crisis, there are ways debt in asia is overall”

Some experts say it now is a good time to maintain steady economic growth, and accelerate China’s economic reform. Professor Georges Ugeux believes China’s growth will be steady.

Ugeux said, "The last few years, the bubble in the last 2 years, in the real estate, the china grow will be steady, the rate of growth than it was in the last 5 years, it serlidifines the China’s economy”

Experts say in the long run, the EU debt crisis may provide opportunities for China. China may speed up its monetary reform and speed up the internationalization of the RMB.

Reporter: “Experts also say that further growth in the developing world will determine where the future of monetary reforms will go. And as emerging economies continue to expand, their currencies, including China’s yuan, will see a greater international role.”