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Morph366 says Chinese Premier's Wen Jiabao's magnanimous pledge to "support euro zone countries...

Morph366 says Chinese Premier's Wen Jiabao's magnanimous pledge to "support euro zone countries and Greece to overcome the crisis" shows remarkable cunning: Recognizing its dependency on the solvency of its less-dynamic trading partners, Beijing has every reason to exploit its de-facto role as global currency arbiter.
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Comments (5)
  • Jasper M
    , contributor
    Comments (1652) | Send Message
     
    And, with this timely materialization of a direct link between the fortunes of Europe's current pioneers of insolvency, and the East, Hugh Hendry, vindicated yet again, is now chuckling up his sleeves. Talk about a good call!
    2 Oct 2010, 04:23 PM Reply Like
  • Tom Au, CFA
    , contributor
    Comments (6788) | Send Message
     
    This looks like the beginning of an alliance between Europe and China that they have been both seeking since the Middle Ages (with China taking the lead this time).

     

    The U.S. will form a counteralliance with the other BRI (C) countries.

     

    A vision for the 21st century.
    2 Oct 2010, 04:56 PM Reply Like
  • Venerability
    , contributor
    Comments (3043) | Send Message
     
    Mommy!
    2 Oct 2010, 05:30 PM Reply Like
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
     
    This is China doing what China wants to do. Congress passes a "bill" and China counters.
    2 Oct 2010, 11:14 PM Reply Like
  • Harry Tuttle
    , contributor
    Comments (2221) | Send Message
     
    Their support included the purchase of Spanish bonds...EUR400....million (it is in the WSJ). In other words, nothing.

     

    This is like when companies announce buybacks. Nobody bothers to check whether they actually buy anything. Some do but many don't. The point is to move the price without spending real money.
    3 Oct 2010, 08:01 AM Reply Like
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