Printing money is the last resort of desperate governments when all other policies have failed.

I believe in public services.

At the moment we are hard-wired into the European markets - 50% of our exports go to Europe - and that has not been good for the UK. So I'm not saying "make Britain entirely dependent on China". I'm saying "let's diversify a bit". When I became chancellor, China was our ninth largest trading partner. This is the world's second biggest economy. China was doing more business with Belgium than it was with Britain.

Britain wants the single currency to be a success. It is massively in our interests that we have a stable financial system on our doorstep.

The positive news is that the British economy is continuing to grow and is creating jobs. And it is positive news too that at a time of real international instability we are a safe haven in the storm.

Britain has no divine right to be one of the richest countries in the world.

I find China such a fascinating and interesting country. Each time I come back something has changed and it's moved on in leaps and bounds.