A sad state of affairs..


Sarkozy to Seek China Aid as EU Expands Rescue Fund


French President Nicolas Sarkozy said he plans to call Chinese counterpart Hu Jintao today to discuss China contributing to Europe’s efforts to resolve the region’s debt crisis.

The European Financial Stability Facility will be worth about $1.4 trillion after European leaders agreed to leverage existing guarantees by as much as five times, Sarkozy said at a briefing in Brussels at 4 a.m. local time. The presidents will speak about noon Brussels time and Chinese support will be welcomed, he said. Jiang Yu, China’s foreign ministry spokeswoman, said Beijing is ready to work with Europe to stabilize markets.


http://www.bloomberg.com/news/2011-10-26/euro-rescue-fund-chief-goes-to-china-as-europe-seeks-investors.html

Europe to Beg China????? Sounds like you are not a fan of Europe'

Just Remember we are all Global Now. We all sink or swim together.

I think China are looking to offload as many Dollars and Build their Euro Reserves. Basket of Currencies is the way forward.

Lol its ok. All of us developed countries control China's Economy. Remember China is full of poor people and get all their money from exports. If worse comes to worse all we have to do is stop buying from them and there goes their money.

Wait just one more decade.

Beijing, with its big holdings of European sovereign debt, is one of the main bystanders waiting to see if Europe can provide debt relief for Greece, which risks a default that could triggera deeper crisis in Italy and other bigger euro zone economies.

Still, it looks like Sarkozy won't be the only European official making a pitch to China for much-needed funding. Klaus Regling, the CEO of the EFSF, is said to be planning a trip to China (and possibly Japan as well) inthe next few days to meet with potential investors.

http://money.cnn.com/2011/10/27/news/international/thebuzz/index.htm?section=money_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29&utm_content=Google+Feedfetcher

For what? Is China gonna realize that communism is not the way and restructure their whole society in 10 years? I think not. It will take a few generations once they start to change over.... if they ever do. But then if they do they won't have the cheap labor anymore and thus their exports wont be so cheap. Think about it man.

Oh, communism / capitalism!

China functions in the global capitalist economy unfettered by 'anti-capitalist' ideological inhibitions! They will not be restructuring their whole society to abandon communism, because communism is integral to the control the gov wields over the people - but thats not the point.

They don't need to completely abandon that control, and the communist structure which enable it, in order to continue to operate in a quasi-capitalist way when it suits them. It seems that China's wealth has increased proportional to their industrialization and their embrace of the global economy - I see no reason that need not continue, a no reason to assume we can lightly dismiss them. We may very well find the standard of living for the average Chinese to be greater than that found in, say, rural alabama, in 10 years.


To think that communism will prevent China from continuing to become more and more economically relevant and empowered seems ideological and naive, to me.

With $3,200bn in foreign exchange reserves, roughly a quarter of which are believed to be held in euros, China could be willing to contribute between$50bn and $100bn to the EFSF or a new fund set upunder its auspices in collaboration with the IMF, according to one person familiar with the thinking of the Chinese leadership.

http://m.ft.com/cms/7505d210-00ba-11e1-8590-00144feabdc0.html?catid=3

My ancestors obviously came from Europe albeit in 1732 so I really don't have much of a tie like others living here may.

I don't have a problem with Europeans. I travel to Europe frequently and I find most average people to be decent.

When you talk directly to people you get an impression that you don't see in media coverage.

I can't quite comprehend how people that lived so near to the Warsaw Pact countries could embrace a quasi socialist governmental model, but hey..

Whatever..

What does china av? They are ful of feck product.