Economist Rob Wood of Berenberg private bank had recently given an interview to CNN suggesting that Beijing’s interest does not go hand in hand with the Greek problem. In a subsequent interview with chinaandgreece.com Mr Wood reiterated his argument by saying: ‘Greece is not important for China. Why would it be? A relatively small part of the Eurozone. Its one thing buying some assets in Greece, quite another funding its default on debts to other Eurozone countries’. He also put a 35% probability on a Grexit and explained that the fall of the price of EUR does not mean much to China.
Talking to CNN in the past Rob Wood had said: ‘‘Then there’s China. China has invested heavily in Greece’s ports and has other trade ties with the country. It also has substantial foreign reserves of around $4 trillion, which could easily wipe out the loans Europe has issued to Greece. But there’s no obvious advantage to China stepping into a regional problem.Would China really want to wade into the middle of the eurozone in an antagonistic way? For Russia there’s upside in destabilizing their opponent, but for China, I can’t see any upside, politically or economically.’ You can find more information here.