Europe's economic troubles have forced it to continue looking to China for financing. But Beijing, which is thought to hold up to 30 percent of its reserves in euros, is driving an increasingly hard bargain.

Despite the fashionable talk about BRICS and the G2 of Washington and Beijing, we really now live in a G3 world that combines US military power and consumption, Chinese capital and labour, and European rules and technology.

The USA and Europe have something in common: they need China's money. In the coming decade, the three economic centres of the world have to find better ways to interact on financial and economic matters.

Berlin and Beijing have a flourishing trade relationship, and Wen's visit to Germany today will strengthen political links. With ministers from the two governments about to stage a major meeting, China is a test case for Germany's changed role in Europe.

Last week's meeting between China's ambassador to Qatar and the head of Libya's opposition movement signalled a departure from Beijing's traditional insistence on not interfering in the internal affairs of other nations. China's growing interests around the world means that we can expect more of the same in the coming years.