In the midst of a European debt crisis, some European leaders are headed to China seeking its' help. But help from China, is unlikely to come at least on this trip.
Europe would like to see China show support for the European Financial Stability Facility (Europe's bailout fund), by buying European bonds. At present, China seems reluctant to do so because they are looking for stability before making a big financial commitment. Furthermore, China wants to be given market economic status and easing of Chinese exports, a move Europe seems less than enthusiastic about.
China is in the catbird seat here…conspiracy theories aside. China has large amounts of capital and Europe is desperate need. China mustn’t use this moment to gloat over their good fortune and Europe’s troubles because China’s economic success is not so great that it cannot go awry at a moments notice.
It’s actually in China’s interest that Europe remains viable as a trading partner. My guess is that China will provide some assistance, when Europe stops playing the house of cards that is about to topple. The real question for China is: When do you step in, and under what terms?