On Saturday, Angela Merkel, German Chancellor enclosed up a trip to China, one of the most populated countries in the world. During her visit, the German Chancellor tried to restore confidence in her hosts on the power of the Euro and Europe’s capability to beat its debt crisis. During Merkel’s 3 day trip to the worlds 2nd biggest economy, she admired the benefits of having a single currency. Furthermore, she also advised Chinese government to put pressure on Iran and to condemn Syria at the UN. In a statement, one of China’s largest news agencies, Xinhua news revealed that the German Chancellor ended her official 3 day visit in Guangzhou, a southern city of China.
During her trip, Merkel was not allowed to meet journalists and human right lawyers. On the other hand, during her visit she held talks with China’s Premier, Wen Jiabao and President Hu Jintao. Before the trip began, Angela Merkel said that she would raise human rights issues during the trip. On Friday, Merkel also attended a business forum with Wen. She said that China doesn’t have any intention or the ability to buy Europe. Meanwhile, numerous analysts and experts believe that the 2nd biggest economy in the world, China, holds more than $550 billion of European sovereign debt. Nicolas Sarkozy, French president and German Chancellor, Angela Merkel will preside on Monday over the latest edition of Franco German Council of Ministers. This council will mostly be devoted to the single currency zone financial crisis. The Euro Zone debt crisis has crippled the European economy.
Previously, several well known economists and analysts had said that the single currency zone may fall into a double dip economy. The stability of European economy is crucial for the rest of the world. Furthermore, the U.S. economy is also on its path to recovery after a notable holiday season. This holiday season, sales for U.S. retailers’ sky rocketed and also surpassed the expectations of analysts.
