China Rebuffs Hopes for Bailout

[Bosonic]

Source: WSJ

WASHINGTON—China to Europe: Don't expect a bailout from us.

That was the message delivered by a number of Chinese officials during meetings at the International Monetary Fund, where China was widely seen as an answer to the euro zone's problems, either as a purchaser of European debt or as a country that could further goose its economic growth rate.

"We can't just go save someone," said Gao Xiqing, president of China Investment Corp., China's huge sovereign wealth fund. "We're not saviors. We have to save ourselves," he said at a weekend panel discussion

If Europe decided to issue euro-zone bonds—debt guaranteed by all euro-zone members—CIC would consider becoming a purchaser, he said afterwards. "If it has a risk profile that fits into our allocation, we'll buy some," Mr. Gao said. "But don't expect us to buy more than our risk appetite would take."

Read more: http://online.wsj.com/article/SB10001424052970204010604576592851514658060.html

[ixion]

1. "we have to save ourselves"... but please continue to buy our cheap crap.

[villager]

2. And please -- no tariffs or human rights sanctions! (And boy, won't the markets be fun tomorrow!)

n/t

[Katashi_itto]

10. China is protecting China what it's always done.

It's overall strategy isn't grandiose, or anything like American Empire building foreign policy, it's deadly simple, pragmatic. Protect China, do nothing that does not benefit them in some way.

Had the U.S. pursued just 10% of such a policy, globalization would not have occurred, we would not be in this fix.

[ixion]

12. if it's not grandiose, why do they impose their will and their might on other countries

like Taiwan and Tibet?

if it's all about protection, why do they destroy their own country with unregulated industrialization?

Sorry, that excuse doesn't hold water, nor does it strike parity with China's history of being an abusive bully.

[provis99]

15. other countries?

Taiwan claims to be China, and Tibet is a province of China.

But don't let mere facts get in the way of your Chinese bashing.

[Art_from_Ark]

16. Tibet is an unwilling province of China

It was an independent country until it was overthrown by the PLA in 1950. Much like how Latvia, Lithuania and Estonia became unwilling "republics" of the Soviet Union.

[provis99]

17. that really not the point. The poster was factually wrong.

and I don't want to get into this idiotic Buddhist babble.

[Art_from_Ark]

18. The poster was factually wrong?

Tibet was invaded and occupied by the PLA shortly after Mao Tse-tung/Zedong came into power. That is a fact. It has nothing to do with "Buddhist babble".

[provis99]

19. Tibet is a province of China.

That's a fact. Whether it was invaded or not is irrelevant.

Do you understand what a fact is? Because you seem to think it is a non-sequitur.

[Art_from_Ark]

20. Tibet is an unwilling province of China

Whether it was invaded or not is totally relevant.

I suppose you'd have been clapping to see Soviet tanks crushing Estonian protesters in 1990 because, after all, Estonia was still a "province" of the Soviet Union.

[provis99]

21. since you have just accused me of being a communist sadist,

why don't you fuck off and eat the peanuts out of my shit.

[ixion]

23. China took Tibet by force. Period.

Tibet is being occupied by China, and that's a fact, sir.

[provis99]

24. well then you just confirmed Tibet is a province of China.

so what is your goddamn point?

[ixion]

22. You're joking, right?

Or do you just ignore the facts?

[LetTimmySmoke]

14. I always had the impression that if we were part of some civilization game...

...China would be the country played by the human player.

[polichick]

3. Interesting that futures are up - the markets are so crazy.

[SkyDaddy7]

4. Futures are up to lure buyers in! LOL! nt.

[Left Coast2020]

5. He said he had to "save ourselves".

Reason is China is beginning to have its own concerns about raising prices. Living costs (especially Beijing) are going through the roof. Before I left in June, news stories on CCTV (Central China TV) were always doing stories about raising costs--including food. People are getting PO'd about food costs. And are their wages increasing to counter raising expenses? Absolutely not. Interested in seeing China's bubble burst. Some believe it could happen there.

[cstanleytech]

9. And I suspect they may even have it worse because dont they have something like 2 billion

people more or less compared to our 250 - 300 million? Probably means a whole heck of alot more potential unemployed who need food and housing and growing angrier and angrier over the conditions, maybe even french revolution type angry.

[SkyDaddy7]

13. I read the guy who made BILLIONS ...

betting on the economic meltdown in 2008 due to mortgages is betting on the China bubble to burst...I think he said we should be seeing signs of it starting later this year & it could pop sometime in 2012. I guess they are building massive apartment & office buildings in China even though they do not have buyers or renters to fill the buildings?

Sorry, I wish I could remember the guys name & more detail but my main point is I have heard the bubble in China could pop soon. If so, China is a political time bomb as well! Eventually the people there could become so angry they could rise up...An economic meltdown could be the breaking point for China in many ways!

[madrchsod]

6. what`s the yuan worth on the open market?......

no one knows because it`s not freely traded on the open market.

[reACTIONary]

7. Rumor has it...

...that it is discounted in HK over Shanghi.

[KILL THE WISE ONE]

11. and it is past time for that to change!

[lib2DaBone]

8. How many American Cars are on the road in China?

How come they can bring all their cheap crap here w/o tariffs?

Free trade is not FREE.