Mario Draghi has said China can ride to the rescue of the eurozone economy, telling MEPs that stimulus measures introduced by Beijing would ease pressure on the region’s exporters.
The European Central Bank president said he was “confident” in the Chinese government’s response to its growth rate falling to 6.6 per cent, the lowest level since 1990.
His comments to a European Parliament hearing in Brussels show the importance of China’s economic performance to eurozone manufacturing, which is dominated by German exporters. Beijing has stepped up fiscal and monetary stimulus, in an attempt to prevent a sharper slowdown this year.
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