The euro-zone debt crisis should be solved by Europeans, and the best help China can offer is to develop its own economy in a balanced way, Liu Mingkang, former chairman of the China Banking Regulatory Commission, said yesterday.
Liu made the comments at a financial conference in Beijing, after US Treasury Secretary Timothy Geithner, speaking in Honolulu on Thursday ahead of the Asia-Pacific Economic Co-operation forum summit, urged Asia to do more to stimulate global growth to offset the crisis.
'I'm still quite optimistic about the European situation,' Liu said. 'In fact, Europeans can rescue themselves. They have the capability and political wisdom to do it.'
What China can do is maintain development of the world's second-largest economy and try to ensure social stability, Liu said at the conference hosted by the Beijing-based Caixin media group.
'The best way that China can contribute to the global economy is to do our work at home better, deepening reforms, reducing pollution and maintaining balanced economic growth,' he said.
Debt-stricken European countries have looked to China to bail them out by buying their bonds, extending loans or making direct investments in the euro zone.
