Comment on "Europe: Top destination for Chinese investors" (China Daily, Aug 9)

The article suggests the right way of establishing an Asia-Europe market. Both sides need to work out a mechanism that would support the euro and yuan as major trading currencies for the Asia-Europe market. The banking systems in Asia and Europe should be conservative and standardized further.

Currencies are not for speculation. Banks are supposed to carry out the onerous task of maintaining financial stability, not pursue wild unregulated investment profiting through reckless lending.

In this respect, China should keep its local loans in check. Preservation of Asian-European culture, and mutual trust and acceptance for social communication are equally important.

Asian, on China Daily website

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(China Daily 08/20/2012 page9)