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> Economy

FT: Why does Greece attract Chinese investments?

The article describes how China's attitude towards Greece has changed since the beginning of the crisis

Newsroom October 7 02:20

An extensive feature article entitled “Greece primps for big China state deals” that was published on the Financial Times site presents the reasons why “Greece suits China’s ambitions to expand deeper into Europe.”

More specifically, the article mentions that when Chinese President Xi Jinping made an unofficial visit on the island of Rhodes only for one night, the political leadership of the country flew from Athens to meet him and ensure that everything went smoothly.

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This is indicative of the closeness of relations between the Greek and the Chinese Governments, and the article goes on to describe how China’s attitude towards Greece has changed since the beginning of the crisis.

“A few years ago, Greece’s economic woes were so stark that even China – eager to expand in pivotal markets – was skittish about its high-risk potential,” the newspaper underlines, referring specifically to the Chinese traders who had arrived in Greece in droves just before 2004, only to abandon the country in 2010, moving on to more stable parts of Europe.

“Now China is reassessing Greece and its infrastructure that must be sold as part of its bailout deal with the EU and International Monetary Fund. By sea and by air, Greece is suiting China’s ambitions to expand deeper into Europe,” the Financial Times say.

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