Spain wishes to strengthen relations with China which go beyond the specific difficulties of the moment”. This was the statement made by the Spanish Minister of Economy and Competitiveness, Luis De Guindos, on the occasion of his trip to Beijing the aim of which is to call for greater confidence in Spain from Chinese investment institutions due to the measures carried out by the Spanish Government to reduce the fiscal imbalance.

Luis De Guindos stressed that the Asian giant’s economy possesses a notable importance for any country; therefore it is important for Spain to establish stronger links with this nation, the second largest economy in the world. The Spanish Minister made this statement in Beijing yesterday after meeting with the managers of the China Investment Bank, the National Pension Fund and the State Administration of Foreign Exchange. Likewise, De Guindos took the opportunity to meet with Spanish businessmen in this Asian territory.

Meanwhile, the Spanish Minister of Economy and Competitiveness pointed out that “Spain is interested in adding value to relations with the Asian country in both senses, in the medium and long term, as China is playing a major role in rebalancing the world economy, by reducing its external surplus and promoting internal demand, which is positive for our exports”, as quoted by the website Cinco Días. De Guindos also pointed out that the relations between Spain and China “are two-way trade and investment relations”.

Today is marked by De Guindos’ trip to Singapore to meet with the Chinese Minister of Trade, Chen Deming, who recently announced that China may become the second largest importer in the world.

China occupies the top ranking as an importer from Spain outside the Eurozone, with a market share of 7.1%. Undoubtedly, the Asian giant plays an important role for the rest of the economies in the world, above all after the prime minister of China, Wen Jiabao, set the goal for growth of the Gross Domestic Product (GDP)  at 7.5%  for 2012, as a result of the Chinese government’s proactive attitude regarding controling the macro-economy, and which can by no means be considered low, emphasized Wen. There have also been other forecasts for the China economy, like the one recently announced by S&P which established a recession in its economy of 8.3% for this year, a figure which despite being lower than the 9.2% recorded in 2011, will still allow China to stand out among the main economies in the world, predicted the institution.


Source:  Globalasia. com

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