China issues warning on European debt crisis

China has voiced concerns over the eurozone crisis, urging Europe and the US to deal with their debt pile, Reuters reports.

At a meeting of South East Asian ministers today, China's trade minister Chen Deming told Europe and the US they must get their fiscal houses in order. "We support stabilising measures taken by relevant countries, but we hope these countries will take measures to control their government debt proportion and take bigger responsibilities," Chen said. He expressed particular concern over the outlook for the next two months: "We are also concerned about new challenges facing European countries in August and September," he said. Beijing has invested nearly all of its $3.2trn foreign exc...