28.10.2011 - China may end up contributing to this vast European bailout fund
The Chinese control 1.93 trillion of foreign currency reserves, with about US$300 billion in its China Investment Corporation. Indeed were it not for Chinese purchase of European government debt, the Euro would probably have collapsed already. It is what is sustaining the Euro against a weak US dollar, along with European banks flogging off overseas assets which are then converted from dollars back into Euros...............................................Full Article: Source
Print