“In these circumstances, the Chinese have every incentive to rescue Europe. Yet that is a tall undertaking for Beijing. To save the continent, China would have to restructure the 17-nation euro zone, change the welfare-state mentality of the 27-member European Union, and buy hundreds of billions of never-to-be-repaid debt.  Beijing, for all its power, obviously cannot succeed at the first two tasks, and it can accomplish the third only if it wants to destroy its own finances.”

http://www.internationalman.com/global-perspectives/will-china-rescue-the-global-economy

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