Friday, 28 October 2011

European beggars in China - The brand new new reality show

The high and mighty in the European Union are now desperately hoping that China will offer the crisis ridden eurozone a big helping hand. But inspite of president Nicholas Sarkozy´s personal electronic kowtowing in connection with the last EU summit, the Chinese seem to be in no hurry. They are thoroughly enjoying the humiliating European "reality show", and have decided to let the beggars wait for a while :

Advisers to the Chinese government told the Financial Times on Thursday that the country is likely to contribute to the eurozone’s bail-out fund but the scope of its involvement will depend on European leaders satisfying some key conditions.
Any Chinese support would depend on contributions from other countries and Beijing must be given strong guarantees on the safety of its investment, according to Li Daokui, an academic member of China’s central bank monetary policy committee, and Yu Yongding, a former member of that committee.
Read the entire article here

Meanwhile the European Union development and climate change aid to the "developing country" China continues as if nothing has happened. Millions and millions ("Indicative funding" for 2007 - 2013 is 240 million euro) of EU taxpayers´ money either have been granted - are are in the process of being given - to a number of different "projects", like these ones:


EU-China Clean Energy Centre

Sector: Sectors not specified
EU Contribution: € 10,000,000.00 (75.47% of total).
Description: The Centre in Beijing aims to offer a holistic approach (technical solutions, policy and regulations combined) to promote the introduction of clean energy technologies and support the transformation of the Chinese economy into a low carbon one

EU-China Institute for Clean and Renewable Energy (ICARE)

Sector: Sectors not specified
EU Contribution: € 10,000,000.00 (70.52% of total).
Description: The ICARE aims to fill up the gap between the China's priority in battling against climate change by adoping clean and renewable energy and the lack of a critical mass of Chinese engineers in these
new technologies.

EU-China Environmental Governance Programme

Sector: Sectors not specified
EU Contribution: € 15,000,000.00 (80% of total).
Description: To improve environmental governance by enhancing public participation and corporate responsibility in China

From a recent EIB press realease:

The European Investment Bank (EIB) has granted a EUR 500 million loan to the People’s Republic of China (PRC) for projects supporting climate change mitigation. The Climate Change Framework Loan II (CCFLII) was signed by Mrs. Magdalena Álvarez Arza,
Vice-President of the EIB and by Vice-Minister of Finance Li Yong, in Beijing today.


Latest by now its time to forget about European leaders pressing for human rights when meeting with their Chinese counterparts. Beggars do not have a say on such matters.

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