Sponsored Content
« Netflix Recommendation: Blink, The Doctor Who Episode | Main | Funny but Awful Also Funny: Jets' Coach Rex Ryan's Wife May Or May Not Be, But Is, Some Kind of Foot-Fetish Internet Queen »
December 23, 2010

Wow: China To Bail Out Europe?

They're really pushing for top-dog status, and really seem to have so much money they can burn a lot of it.

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.

China's astonishing economic growth has put it on track to overtake America as the world's economic powerhouse within two years, a recent report claimed.

I think this is a good thing. It means China's investing in stability and certainty, and aligns its interest more with our own (and against Iran and North Korea). When you invest in the established order you're more hostile to troublemaking threats to the return on your investment.


digg this
posted by Ace at 01:44 PM

| Access Comments




Recent Comments
I am the Shadout Mapes, the Housekeeper: "[i]256 Have you ever been so miserable and afflict ..."

... : "And God Created Body With Female Sex Organs ..."

Oldcat: "Film remakes greenlit and in the works: Scent o ..."

bill in arkansas, not gonna comply with nuttin, waiting for the 0300 knock on the door : "Cal Worthington commercials would be considered un ..."

Anna Puma: "Pookysgirl Found a [i]Konosuba[/i] art book tod ..."

Cicero (@cicero43): "[i]That’s not menses leaking from your sphin ..."

gourmand du jour: "Have you ever been so miserable and afflicted that ..."

wth: "So you build your dream house, then I buy the land ..."

LinusVanPelt: "I had chicken pox as a kid. Then got shingles abou ..."

Moron Analyst: "240 The modern left: 1. "Follow the Science." (Wh ..."

Walter Freeman: "[I]@243: "shingles would not recommend"[/I] Nop ..."

Drink Like Vikings: "I am assured that my Congessman's lips are firmly ..."

Recent Entries
Search


Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64