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Wirtschaftsblatt - Austria | Wednesday, March 18, 2015

Europe right to get in good with China

Germany, France, the UK and Italy want to participate in China's new development bank which according to Beijing's plans is to finance infrastructure projects above all in Asia. The liberal business paper Wirtschaftsblatt lauds the fact that these states aren't letting US reservations about the bank interfere with their plans: "In Europe and China's neighbouring countries the governments have long since grasped that regardless of what Washington thinks they can't halt Beijing's global plans anyway because they're in line with this huge country's economic clout. And it can't hurt to put oneself on a good footing with the rising super power which may even outstrip the US one day. Better to join in now and gain influence in the new institutions, they say to themselves in Berlin, Paris, London and Rome, but also in Singapore and soon no doubt in Sydney or Seoul too."

» To the complete press review of Wednesday, March 18, 2015

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