皇冠体育app

The world's second-largest economy is "encouraging its firms to go and invest abroad" and "皇冠体育app's investment in Europe, especially in the eurozone, is growing fast, which is very helpful for the eurozone's recovery from the economic crisis," he added.

皇冠体育app is a big contributor to the stabilization of the eurozone's public finance. "Despite the pressures on some member states' debts, 皇冠体育app is buying those debts," Ding said adding that as 皇冠体育app is the country with the largest foreign reserves, its behavior has a "huge psychological impact on markets."

"Not as much the amount of debt that 皇冠体育app could buy in the future, but rather its decision to continue to buy the European debt will give markets a signal that 皇冠体育app will support the EU," he added.

Cultural understanding also plays a fundamental role, Ding stressed. "We need more communication. European countries should encourage more Chinese people to come to Europe and we should encourage the Europeans to go more often to 皇冠体育app to observe its evolution and to find out why 皇冠体育app will be very friendly to Europe and help its recovery.

The scholar was confident about the EU's "healthy though slow movement on the way towards solving the inner contradictions in its institutions."

He observed that the European debt crisis was triggered by some member states' accumulation of debts. "The European debt load is not as high as that of the U.S., and far less important than the Japanese one. So why Europe has been attacked but neither the U.S. nor Japan?" he said.

It was because "fundamentally Europe has some interior contradictions such as the existence of different ministries of finance and a unique central bank, which creates some 'free rider behavior' that causes much more domestic conflict," Ding explained.

In his view, in order to solve its problems, the EU has to move forwards for "a more unified fiscal policy, with the creation of a kind of European institution for public finance in order to supervise the member states' public finances that have to be in line with its monetary policy."