(Reuters) – China should await workable plans from Europe before Beijing puts money into any bailout package, an adviser to the Chinese central bank said on Friday, adding that China should insist on “certain controls” over how the money will be used.
Li Daokui told a forum in Beijing that China would also likely work with other BRICS countries, namely Brazil, Russia, India and South Africa, in possible moves to help Europe overcome its debt crisis.
“If we (China) inject money, we must have certain controls. We cannot say that we give you money and you spend the money at will. You are the rich, you borrow money from the poor. It's not right for you to continue to lead a luxurious life,” Li told reporters.