Steve Chiotakis: European countries are in a holding pattern right now waiting to see if China will contribute to the European bailout fund. The Chinese, of course, wanna know what they can get out of the deal — and one big thing they’re
thinking about is technology.
Marketplace’s China bureau chief Rob Schmitz reports.
Rob Schmitz: The E.U. is China’s biggest export market, so the euro zone crisis is spelling disaster for parts of China’s manufacturing sector. But not everyone’s worried.
Yang Fenghui: This E.U. economic crisis, of course, it brings some pressure and challenges, but it also brings opportunities for my work.
Yang Fenghui puts wealthy Chinese investors in touch with European businesses. He’s been busy lately — the euro zone crisis means it’s cheaper than ever for Chinese investors to purchase European companies.
Fenghui: Buy the technology, acquire the company, or make industrial investment — for example, to buy some mines, forests and farms. We have this tendency and we have several projects ongoing.
China’s problem is that its companies are big, but they’re not global innovators. But when the Chinese buy European companies, they buy core technology, which can give them that missing edge in the global marketplace. And now that Europe needs money, it’s a great time for China to make that trade.
In Shanghai, I’m Rob Schmitz for Marketplace.