Angela Merkel, the German chancellor, flies to China on Wednesday to explain Europe’s crisis management in the eurozone, and woo Beijing and Chinese financial institutions to invest in Germany and the wider common currency area.
“The chancellor will be seeking to gain the confidence of financial investors,” a senior German official said on the eve of her departure for an official visit to Beijing and Guangzhou. “China also has an interest in seeing confidence growing in the European economy.”
High on the agenda of the chancellor will be to spell out the decisions taken by European Union leaders at a summit on Monday to lay down strict budget rules for the 17 eurozone partners in a formal treaty, and commit themselves to structural reforms to boost growth and competitiveness in Europe’s sluggish economies.