China will not come as Prince Charming to save Europe in danger. Before asking Beijing to buy risky bonds, the governments of the Old Continent should worry about "putting their own house in order". This is the meaning of the message launched by Wen Jiabao, Chinese prime minister, who speaking yesterday at the World Economic Forum underlined how "the various countries must respect their responsibilities", implementing "responsible monetary and budgetary policies".
The most important thing at the moment is “to prevent further spread of the sovereign debt crisis in Europe”. Li Daokui, an economist who is a member of China's central bank, is also skeptical that Beijing could intervene to support struggling EU economies, the Financial Times reported. "I believe that no one today can be saved by China - said Li - countries can only be saved by adopting reforms".
