“China is willing to buy bonds from nations involved in the sovereign debt crisis, National Development and Reform Commission Vice Chairman Zhang Xiaoqiang said in an interview with the media in Dalian yesterday.
China is willing to offer assistance, Zhang said without elaborating, adding that Premier Wen Jiabao made similar remarks earlier, according to a transcript distributed on the planning agency’s website yesterday evening. Caijing magazine attended the briefing and published an article earlier.
Wen, speaking at the World Economic Forum in Dalian yesterday, signaled that that developed nations should cut deficits and open markets rather than rely on China to bail out the world economy. China can best contribute to the global economic recovery by ensuring steady growth at home, he said.
“Countries must first put their own houses in order,” Wen said. “Developed countries must take responsible fiscal and monetary policies. What is most important now is to prevent the further spread of the sovereign debt crisis in Europe.”
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Dear Lord can this man waffle.