China, Japan Signal Support for Europe Rescue Fund as IMF Meets
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China and Japan, the world’s second-and third-biggest economies, indicated support for Europe’s new rescue fund as they pushed for quick implementation of measures to solve the region’s crisis.
China will “cooperate” with the European Stability Mechanism, a permanent 500 billion-euro ($648 billion) fund that started this week, People’s Bank of China Deputy Governor Yi Gang said today at a seminar in Tokyo. Japan’s Vice Finance Minister Takehiko Nakao said at the same event that the country will “positively consider’ buying bonds issued by the ESM.