China warns it cannot use reserves to save Europe? I hope so!China warns it cannot use reserves to save Europe
BEIJING -- Europe cannot expect China to use a big portion of its US$3.2 trillion foreign exchange reserves to rescue indebted nations, a top Chinese foreign ministry official said on Friday, Beijing's strongest rebuttal yet to suggestions it should bail out the eurozone.
This post was edited by SMITHI at 2011-12-3 03:09
Even if China wish to help them who is to say bonds will be honoured and China investment will bring return?
Greece got debt written off ....half of it to be exact , so who will compensate those that lost money in borrowing to Greeks?
Nobody , money is gone it is pure loss.
That is funny part of modern world , everything seem to go .........from Feds printing sh!tloads of money and giving it to private banks till Europeans not honouring that and saying bad luck to those that gave them money..........there is no rule of law out there ..........
just one big jungle and China should not enter jungle it is not smart thing to do. I am glad to see some responsible conservatism ideologies being drawn and implemented from our communist government. This shows great wisdom for all the world to see being generated by our leaders here in China.:victory: US$3.2 trillion foreign exchange reserves..
How many wooden nickels does that equal? robert237 Post time: 2011-12-5 13:08 static/image/common/back.gif
US$3.2 trillion foreign exchange reserves..
How many wooden nickels does that equal?
That would depend on the type of wood. Mine is mahogany of course and it is much. Europe cannot use it also:) The EU-17 has only 1 trillion however, but China's foreign exchange reserves is too high compared to it's size of it's economy, I think that China can stop to run trade surplus, ,or even account balance surplus .
We cannot use this money domestically to alleviate poverty,” Fu said. “We also can't take this money abroad for development supportVice Foreign Minister Fu Ying
I disagree with this currently China runs $ 17-30 billion trade surplus/month , reducing that to 0 and every Chinese on average can spend 13-25 dollar more on every month, reducing the account balance surplus it would be probably far more , sorry I am to lazy to check the data.
i hope so...
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