China pledges to buy European debt

China's premier, Wen Jiabao, said the country is ready to help Europe through its current debt crisis, but is calling for Europe to recognise China as a full market economy.

Addressing policymakers at the summer World Economic Forum in Dalian, China, Wen said he had told European Commission President Jose Manuel Barroso in a recent phone call that China was willing to invest more money in the region, CNBC reports. "We have on many occasions expressed our readiness to extend a helping hand and a readiness to increase our investment in Europe," he said in his speech. But he urged the EU to grant China the status of a full market economy before the World Trade Organization (WTO) does so in 2016, ensuring Chinese products get better treatment in trade dispute...