logo
  Join        Login             Stock Quote

Changing Perceptions Of China In Europe

 March 10, 2012 01:14 PM


Chinese Vice-President Xi Jinping's visit to Ireland last month highlighted the way in which the impact of the international financial crisis is bringing about a change in the perception of China in Europe.

It is useful to go back four years, in the run-up to the Beijing Olympics, to see the difference. At that time, according to a poll in the Irish Times, a campaign for an Olympic boycott, promoted by figures from most Irish political parties, had the support of 43 per cent of Ireland's population – compared to 57 per cent favouring participation. In comparison, during Xi Jinping's visit, every major party and newspaper spoke in favour of closer links with China.

[Related -The Boeing Company (BA) Q2 Earnings Preview: Durable Earnings Beater]

Taking another example, in early 2008, French President Sarkozy threatened to boycott the opening ceremony of the Beijing Olympics, the 11th meeting of the EU-China summit was postponed because of Sarkozy's attacks on China, and the mayor of Paris was saying he would hang a banner outside his office denouncing China. In contrast, when President Hu Jintao visited France in November 2010, President Sarkozy did him the unusual honour of meeting him personally at the airport.

[Related -Angie's List Inc. (ANGI) Q2 Earnings Preview: Trending Towards a Smaller Loss than Expected]

Trade between key European countries and China has advanced in the intervening period - Germany now exports more to China than the US. China's investments in Europe have moved beyond bond purchases to Chinese companies signing significant deals – particularly in infrastructure. China's Three Gorges Corp bought a 21 per cent stake in EDP-Energias de Portugal SA for $3.5 billion, and China Investment Corp, China's sovereign wealth fund, bought a 9 per cent stake in the holding company of the UK's Thames Water. In finance, in January the UK signed an agreement with the Chinese government for London to act as an offshore centre for RMB transactions.

What in most European countries has essentially become an all-party welcome for closer economic ties with China contrasts with the political atmosphere in the US. Vice-President Xi was treated respectfully by President Obama's administration during his US visit - although no major agreements were arrived at. But leading Republican presidential candidate Mitt Romney declared he would designate China as a currency manipulator on his first day if elected president.

In contrast to Europe, the US has adopted a position blocking Chinese inward investment.


Next Page >>12
iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageLadenburg Thalmann Financial Services (NYSEMKT:LTS): Heavy, Durable Insider Buying

Ahh, but any worries over price levels didn’t stop multiple insiders at Ladenburg Thalmann Financial read on...

article imageInternational Business Machines Corp. (IBM) Q2 Earnings Preview: Small Beat and Pop

International Business Machines Corp. (NYSE:IBM) will host a conference call Wednesday, Jul. 16, 2014 at read on...

article imageGoogle Inc. (GOOGL) Q2 Earnings Preview: A Few Pennies Either Way Make a Big Difference.

Google Inc. (NASDAQ:GOOGL) will hold its quarterly conference call to discuss second quarter 2014 financial read on...

article image19 Companies That Could Beat Earnings and Pop on Price Next Week

Using iStock’s proprietary iEstimates model, we have identified 19 publicly traded companies that could read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

How To Profit From The Death Of The Big Banks
More Articles on: China



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.