07
Oct
10

China offers to buy Greek debt – how kind of them…

“I have repeatedly said that China supports a strong euro and will not reduce the number of European bond holdings from its foreign exchange reserves,” said Wen Jiabao, the Chinese prime minister.

http://english.aljazeera.net/business/2010/10/2010102195730121409.html

It would have the added benefit of making European exports vs those from China to the US more expensive too, wouldn’t it?

Radio Netherlands goes so far as to refer to Greece as “China’s first European Colony” noting that China is making huge investments in Greek ports and railways.

http://www.rnw.nl/africa/article/greece-chinas-first-european-colony-0

Although it seems China is on the cusp of taking over the world, they have more than their own share of problems such as a inflation and a giant property bubble.

Something to keep an eye on, at any rate.

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