Chinese premier Li Keqiang also recently visited the UK. Here's how DW, the German journal quoted above, saw his visit.
Sieren's China: China saves the Queen
China is more important for Britain's future than the British like to admit, says DW columnist Frank Sieren.
What can Premier Li offer the UK? It's no secret that western economies are cash-strapped. Years of supporting their hegemon in various wars have sapped western financial strength. The DW columnist continued ...
China's Prime Minister Li Keqiang traveled to Britain last week for the first time since taking office - right on schedule for the tenth anniversary of the China-UK comprehensive strategic partnership.
His timing could hardly have been better: China definately stands to benefit from Britain's adverse attitude toward the EU. All China has to do is what it does best anyway, namely to invest and finance infrastructure projects.
Chinese express trains for Great Britain
One of those projects is a high-speed railway line scheduled to connect London and the north of the country beginning 2026. The 53 billion euro ($72 billion) project is a highlight for Britain, where railroads were invented in 1825. In fact, Britain was a global leader in the technology until Germans and Americans caught on and stole the technology. In the 20th century, Germany, France and Japan took over world leadership of the technology, and now, they are being challenged by China.
The Chinese don't necessarily build better trains. They entered the game mainly because they are in a position to finance such a project. Cameron can no longer count on the City of London, and the British state hasn't been able to finance such projects for quite some time on its own. The UK is in debt with 89 percent of the GDP, and infrastructure has steadily fallen into a state of decay. And Cameron doesn't want to ask the Europeans for money.
So, to a certain extent, China is what the rich uncle from America used to be, who would help out in times of need. Finance Minister George Osborne, who has been asking himself for quite some time now how the impoverished country is able to finance its anti-European escapades if push comes to shove, heaved a sigh of relief once Li had signed the contracts to the tune of about 22 billion euros. In any case, China pledged that the two countries' volume of trade will rise from currently 62 billion euros to 75 billion euros next year - also for Britain's benefit.
Reference: http://www.dw.de/sierens-china-china-saves-the-queen/a-17733514