China continues to try to buy off world

Discussion in 'Asia' started by (R)IGHTeous 1, Dec 23, 2010.

  1. (R)IGHTeous 1
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    (R)IGHTeous 1 GOPROUD

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    By Daily Mail Reporter
    Last updated at 4:14 PM on 23rd December 2010

    China has said it is willing to bail out debt-ridden countries in the euro zone using its $2.7trillion overseas investment fund.

    In a fresh humiliation for Europe, Foreign Ministry spokesman Jiang Yu said it was one of the most important areas for China's foreign exchange investments.

    The country has already approached struggling European countries with financial aid, including offering to buy Greece's debt in October and promising to buy $4billion of Portuguese government debt.

    'To have any discernible effect China will have to buy a lot more than 5billion euros if they expect to have any impact on the negative sentiment surrounding Europe,' said Michael Hewson, currency analyst at CMC Markets.

    Fresh humiliation for euro zone as China says it will bail out debt-ridden nations | Mail Online
     
  2. Ropey
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    Ropey To Life! Gold Supporting Member Supporting Member

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    We did this. We allowed China massive disparate trading output/input. Now we must face the fact that they have a lot of savings.

    We gave it to them. It's not their fault for making use of that which we freely gave them. This is why I believe that trade must be balanced in the long term.

    And we need to do it before they build a strong middle class consumer base.
     
  3. uscitizen
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    uscitizen Senior Member

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    And the world is eager to sell out to China.

    Nothing new there.
     
  4. zzzz
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    zzzz Just a regular American

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    They got the bucks. And they will continue to rake it in. They are investing in their infrastructure and laying a foundation for economic domination in the middle of this century. We on the other hand are letting our infrastructure deteriorate and have neither the will nor the money to correct this problem.
     
  5. Revere
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    Revere BANNED

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    Only the countries that refuse to. Rein in spending must sell debt.

    Europe already has the new and higher taxes American socialists want here.
     

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