English > Finance > Finance-Featurestory>World does not Need a "Bleeding Heart": China Central Bank Advisor

World does not Need a "Bleeding Heart": China Central Bank Advisor

09-14 17:10 Caijing

Li Daokui, an academic advisor to the central bank, said Wednesday that the world does not need a “bleeding heart,” referring to China’s willingness to purchase euro bonds.

Li Daokui, an academic advisor to the central bank, said Wednesday that the world does not need a "bleeding heart," referring to China's willingness to purchase euro bonds.

"What today's world needs is not a 'bleeding heart'; instead, it needs investors with a sense of reform and cooperation," Li Daokuui said on the sideline of the World Economic Forum in Dalian, "I believe that our country will perform a role of a real good guy, rather than a 'bleeding heart'".

The key of Europe's problem lies in the lack of willing to reform and the proposals of reforms in the debt-ridden countries, according to Li.

With such a big problem unsolved, anyone who buys euro bonds recklessly will, at most, do nothing to help but defer the problems.

In the view of Li, there are many ways to diversify our foreign exchange reserves; however, not all of them are good. A simple transfer of huge dollar assets into euro would not necessarily be a good investment that could withstand a close scrutiny.

The Europe, as well as the United States, would in need of new investments along with new jobs, not just a replacement of their shares, Li said, adding that there is enough liquidity to support the Europe.

Please contact Caijing Magazine for any inquiries. Reproduction in whole or in part without Caijing's permission is prohibited.
[ICP License: 090027] IDC License:[B2-20040250] Advertising Business License:[京海工商广字第0407号] 京公网安备11010502005607号
Copyright by Caijing. All Rights Reserved