Humiliation for the EU: China Says it Will Bail out Debt-Ridden Euro Zone Countries…
Red China on the move…
(Daily Mail)- China has said it is willing to bail out debt-ridden countries in the euro zone using its $2.7 trillion 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.
Today Portugal had its credit rating downgraded by the Fitch Ratings agency amid mounting concerns over the country’s ability to raise money in the markets to finance its hefty borrowings.
Fitch said it was reducing its rating on the country’s debt by one notch to A+ from AA- and warned that further downgrades may be in the offing by maintaining its negative outlook.
‘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.
But experts believed still be some years before America’s leadership role is really challenged – largely because Beijing has given no indication it is ready to take on the responsibility of shepherding the world’ economy.
This foray into the future of the euro could be a signal from Beijing that it is ready to change that perception.
Posted by ZIP on Friday, December 24, 2010, at 9:00 am | 
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They could use this to try to become the universal currency, but I don’t think it would work.
This is part of the rise of the Indo-Chinese trading block……they WILL become the dominant ecenomic power in the world by no later than 2048 at the present rate of growth.
The only thing that might slow them down is W-A-R.
I suggest buying the same investments the Chinese are making….no, not European debt….
G-O-L-D.
You guys on WZ should listen. You re the only ones with half a clue out there.
Merry Christmas to all WZ Family and have Fun.
And buy lots of Silver Eagles as well.
far cheaper to buy up the countries than to have foguht them in war to conquer them… it is AMAZING how western civilization has been put in this spot by liberal leaders.. I remember the mole who had been in the weather undeground with Ayers and them and he told how they wanted China and Russia to come in and run everything after it had collapsed.. I guess with getting all the civilization hating brains working togehter, they managed to get their plan through..
but who will rule??? will Islam be the religion and sharia the law if the Chinese and Russians are running things?? that is when the true WWIII will break out…
@Muslimania
Why do you think a communist country will be able to sustain the “present rate of growth”? If you have such faith in statism, why do you comment here?
The Chinese model simply cannot attain American levels of prosperity. Freedom is the source of our economic power.
China used to be the dominant world economy, for thousands of years. Then they adopted their commie mindset, and fell off a cliff. Now they’re opening up, and because we’re so ridiculously complacent and moronic about protecting our own interests, they’re returning to the top of the heap. It’s really just a matter of time before they realize that the only way to ensure their place at the top is to toss their current government into the dustbin of history.
Yes. China is on a roll right now. I don’t think that it is sustainable though. For one thing, when a country starts to get wealthy, and starts to have a real large, powerful middle class, the population of that country begins to stabilize, and will even begin to decrease. Witness what has happened in Europe and NA. Quebec, being a Roman Catholic province used to be know for large families. Now Quebec, a clean, prosperous place, is not maintaining ZPG. Same with other economically prosperous jurisdictions in the world. Sectors of society that are on the low end of the economic scale, say within the lower 10% however continue to breed, and in North America we see that black/hispanic/indigenous parts of the population are growing far more rapidly than the white European sector. This also goes for the muslim population, and it is actually a plan on their part for world domination by out-breeding the rest of the world. What I am saying is that I believe that China will hit a horrible wall. They will have an aging population [they already have] and with the curtailment of birth rate in the past 30 years due to the one-child policy and with their attitude toward having girls, and also the unsupportable imbalance between the genders in that country, the shit is really, really REALLY going to hit the fan.
Then, add to that the impending competition between India and China. Both country have lots of very smart people, motivated to get ahead. Sparks are going to fly.
Finally, China owns a lot of American debt. I don’t know how much, but I think it is a lot. What will happen to China when the green back tanks, and gets devalued, which it must inevitably do because of the printing of trillions of dollars of fiat currency by presidents over the past few decades?
China already owns the USA. Now they will own the EU as well. What we will do when the Red Commies tell us to pay up or give them half the country as payment? Huh? What do we do then? Go to war? I don’t see another alternative. Do you?
Thanks to stupid liberal policies such as Social Security (S.S.), Medicaid, Medicare and unchecked Govt. spending, this is where we are now.
God Help us please. Our leaders in Washington are leading us all off a Cliff!
China just bought Europe with our counterfeit greenbacks.
if only we privatized Social Security Medicaid and Medicare this is not where we would be