China Ready To Bail Out Europe As Germany Kisses Butt

[I AM NOT THAT GUY 5,715]

Germany, China stress support for euro

BERLIN - GERMAN and Chinese leaders on Tuesday pledged a big increase in trade between their countries, the biggest economies of Europe and Asia, while China's premier underlined his support for the eurozone amid its debt crisis.

After a meeting with Premier Wen Jiabao dominated by economic issues, German Chancellor Angela Merkel also pressed for 'transparent' handling of the case of recently released Chinese artist Ai Weiwei, a prominent government critic.

Ms Merkel welcomed Mr Wen and many Chinese ministers to Berlin, a reception that she said opened a 'new chapter' in relations - underlining Germany's hopes of deepening political and economic ties with fast-rising China.

Germany and China want to increase their annual bilateral trade volume to $284 billion (S$352 billion) by 2015, she said. Mr Wen voiced hopes that the countries could even double their trade volume over five years.

Trade between China and Germany totaled just over $185 billion last year, a 38.5 per cent increase compared with 2009. China was the No. 7 buyer of German exports, and it led the list of importers to Germany, which bought Chinese goods and services worth $109 billion.

Ms Merkel added that China and Germany are 'ideal partners' to develop electric cars for the future, for example, and said both sides want to increase investments. -- AP

http://www.straitstimes.com/BreakingNews/Money/Story/STIStory_684924.html

[^_^ 5,021]

This is a bail out?

[I AM NOT THAT GUY 5,715]

This is a bail out?

Europe and especially Greece, are hoping China will purchase their bonds.

[mawilson 2,133]

Europe and especially Greece, are hoping China will purchase their bonds.

I sure hope they do.

At this point, it's mathematically impossible for Greece not to default.

[Andy H 1]

Europe and especially Greece, are hoping China will purchase their bonds.

This is not a bail out, this is China looking after Chinese interests and Germany/Europe trying to get it's piece of the worlds fastest growing economy. Any Greek bailout will come from the IMF and the ECB neither of which china contributes to. It doesn't need to contribute to the IMF because China has a $3trillion government surplus and it can't be a member of the ECB because, well obviously it's not in Europe.

[Ban Hammer 13,352]

This is a bail out?

more like a giant sucking sound you hear out of the dollar's clout.

[I AM NOT THAT GUY 5,715]

more like a giant sucking sound you hear out of the dollar's clout.

It may not be too long before we start competing with Greece for junk status. That should make retirees happy when their CD's start paying double digit interest again.

[slim 1,525]

more like a giant sucking sound you hear out of the dollar's clout.

Exactly.

China's doing it's best to tip the dollar out of favor. Wonder why they'd be doing that...

It may not be too long before we start competing with Greece for junk status. That should make retirees happy when their CD's start paying double digit interest again.

Or, more likely, their 401k would vanish into thin air and they'd rely on Social Security at 70 cents on each worthless dollar.