Chinese vice-president insists Europe's troubles 'temporary'

XI JINPING, the man expected to be appointed leader of China later this year, struck a bullish note on the prospects for economic recovery in the euro area, saying he thought the difficulties in Europe were “temporary”.

"China does not think one should 'talk down' or 'short' to Europe, because we believe that the difficulties facing Europe are temporary, and the EU and the governments and people across Europe have the ability, the wisdom, and the means, to solve the sovereign debt problem and achieve economic recovery and growth," Mr Xi said in an exclusive interview with The Irish Timesat the start of a three-day trip to Ireland.

Mr Xi, who begins his visit this afternoon in Shannon, said China would support Europe, including Ireland, in its efforts to overcome the economic downturn.

“China takes its relationship with Europe as one of the strategic priorities of its diplomacy, and supports the process of European integration and the efforts of EU members, Ireland included, to overcome difficulties and achieve economic recovery,” Mr Xi said.

“We have offered sincere help to our European friends as our ability permits in line with our means, through increased mutual investment and business co-operation.”

Europe is China’s biggest export market. Beijing has been concerned by the situation in Europe and has repeatedly urged EU leaders to get a grip on the situation.

Turning to his own country, where economic growth is slowing to single-digit figures and is expected to expand 8.5 per cent this year, Mr Xi he said he expected a soft landing for the Chinese economy.

There has been speculation that China could slow down fast and hard, but he rejected these concerns.

Mr Xi said he believed his visit would help intensify the mutual benefits of co-operation between China and Ireland. He said the focus of the co-operation would be at a high level and on certain sectors, such as biotechnology, agriculture and communication technology.

He also said there should be more intensive cultural and people-to- people exchanges, especially as Ireland hosts the most Chinese students per capita in the EU.