Remember all those stories about China coming to bail out Europe by peeling off some of its...

|By:, SA News Editor

Remember all those stories about China coming to bail out Europe by peeling off some of its reserves to buy sovereign and EFSF paper? They never made any sense, and thankfully, EU officials have stopped floating them. China will invest plenty in Europe, but it wants real assets, to wit today's announcement of China Three Gorges taking Portugal's stake in EDP (EDPFY.PK) off of its hands for a song.