The beginning of a beautiful friendship – Spain and China's strong economic ties
As one of the eurozone's main economies, Spain's severe economic downturn has been particularly trying for the EU and the countries forming part of the single currency. In the second half of 2011 – and particularly during 2012 – the ghost of a complete bailout of the Spanish economy and the break-up of the eurozone loomed as certain indicators, such as the yields of Spanish bonds, soared to critical levels. During this time Spain's corporates, including blue chips, have suffered, with local demand for their products and services contracting and access to capital/debt markets and credit proving near to impossible.
Freshfields’ Miriam Perez-Schafer and Alfonso de Marcos explain why China’s growing interest in Spanish companies could see the two form a successful trade partnership in 2013
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