In an article published in Global Times on Monday 19 January 2015 Zhang Lihua and Vasilis Trigkas explore whether China should be worrried about the eurozone. In their view, China has both strategic and economic interests at stake. As they explain, ‘The collapse of the EU integration project would create uncertainties and imbalances and destabilize the global syste’. Additionally, they argue that a potential Grexit and the collapse of the monetary union ‘would leave the US dollar as the sole reserve currency for the years ahead and thus limit China’s ability to diversify its monetary reserves away from the currency of its major geopolitical and security competitor’. They also focus on future repercussions on China’s exports to Europe and European investments in China.
The article of Zhang Lihua and Vasilis Trigas is available here.