China Promises Continued Support for Europe

Chinese premier Wen Jiabao said his country will support European bonds and the euro currency.

"I have made clear that China supports a stable euro," he said, according to BBC News.

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Wen is currently visiting Greece, whose debt problems sparked a crisis in European markets and threatened the value of the euro currency.

Wen promised to buy Greek bonds the next time the country issues debt, and said that China has been buying Spanish bonds as well.

Still, Wen emphasized that China, the world's second-largest economy, is still grappling with poverty and development challenges.

"Per capita GDP is just one eighth of Greece's and the percentage of population below the poverty line is three times that of Greece. China continues to be an emerging country," Wen said.