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1、优秀精品课件文档资料,European Sovereign Debt Crisis and China,Liu Pengfei Nov 30th, 2011,What is the European Sovereign Debt Crisis（ ESDC）? What are the influences of the ESDC on China ? What is the attitude of China ? What is the attitude of the United States ? What part should China play in European Soverei
2、gn Debt Crisis ?,1、Whats European Sovereign Debt Crisis ? （the definitions of 2 terms),A sovereign default is the failure or refusal of the government of a sovereign state to pay back its debt in full. It may be accompanied by a formal declaration of a government not to pay , or only partially pay i
3、ts debts. If potential lenders or bond purchasers begin to suspect that a government may fail to pay back its debt, they may demand a high interest rate in compensation for the risk of default. A dramatic rise in the interest rate faced by a government due to fear that it will fail to honor its debt
4、 is sometimes called a sovereign debt crisis.,1、Whats European Sovereign Debt Crisis ? (the progress of the Crisis),From late 2009, fears of a sovereign debt crisis developed among investors concerning some European states, intensifying in early 2010 and thereafter. Concern about rising government d
5、ebt levels across the globe together with a wave of downgrading of European government debt created alarm in financial markets. On 9 May 2010, Europes Finance Ministers approved a rescue package worth 750 billion aimed at ensuring financial stability across Europe by creating the European Financial
6、Stability Facility (EFSF).,In October 2011, eurozone leaders meeting in Brussels agreed on a package of measures designed to prevent the collapse of member economies due to their spiraling debt. This included a proposal to write off 50% of Greek debt owed to private creditors, increasing the EFSF to
7、 about 1 trillion and requiring European banks to achieve 9% capitalization.,2、What are the influences of the ESDC on China? (disadvantages and advantages),Over Chinas foreign trade More money will leave China Improve Chinas structural transformation European overseas capital investment return Recon
8、sider the local debt of China,3、What is the attitude of China ?,G20 summit 2011 was held in Nov 3rd-4th Oct 28th, Chinas vice foreign minister Fu Ying attended a Briefing.,http:/ EU to recognize Chinas Market Economy Country Status and loosen the high-tech products export to China ?,Nov 1st, China l
9、aunched theTiangong-1 successfully. Nov 3rd, Tiangong-1 docked with Shenzhou-8 successfully, which marks China has become the third country having the docking technology.,Does China want to demonstrate that it has became a Big Power ?,4、What is the attitude of the United States ?,Oct 28th, President
10、 Obama published an article in the Fiancial Times, which set the tone of the United States to G20 Summit and ESDC.,The United States is still the leader of the world.,President Hu ignores Sarkozy, over which Obama has a good gloat.,5、What part should China play in European debt crisis ?,First, China
11、 should buy more bonds from multilateral institutions to reduce the risk. Second, China should encourage domestic enterprises to expand in Europe, carry out business cooperation with European companies or invest more in the infrastructures of some European countries. Third，“冷静观察、沉着应付、稳住阵脚、韬光养晦、有所作为”.(“Coolly observe, calmly deal with things, hold your position, hide your capacities, bide your time, accomplish things where possible.” ),Thank you very much,