21 Responses to China warns it cannot ‘cure’ eurozone’s debt crisis

  1. ohshivers says:

    HI Alvin
    I am just wondering if you mentioned in your book about problems coming from China, which will upset the apple cart?

    Good work!!!!

    Like

    • Yes, China is covered across two chapters…including its unilateral doctrine of nuclear pre-emption against America and Taiwan, it’s quest for economic and technological domination of the West and its quest to be the leading super-power of the Chinese century.

      thanks for weighing in Ohshivers….

      Like

  2. RainMan says:

    All I read in this article is..
    ..’China warns, cannot cure, not enough, debt crisis, without an agreement, more clarity, own financial woes, neither take up the role as saviour, no cure for the EU malaise, play down hopes of a breakthrough at the G20, tackle their own financial problems, investment not on the agenda, immense pressure, more detail, refinancing details, recapitalization, negotiator…’
    But it’s comforting to know the managing director of I&I Finance (why don’t I trust finance managers) remains “very optimistic”.

    Like

    • zach says:

      I agree…. when they say ” backing from sovereign wealth funds” which could mean selling/melting anything they have to avoid the “inevitable CRASH” which could be tomorrow . And…. “Obviously, it is up to European countries themselves to tackle their financial problems.” I think they really mean that they are sucking and tucking more money under the mattress for the elite “G20″ Which are doing everything in their power to kill world economics as a whole. They enjoy watching the world freak out! I hope i’m not the only one that see’s these signs because really when you put together everything that has happened over the last several years ………..

      Like

  3. dannrivera says:

    The US & EU have sucked China’s money dry already. It’s funny how US/EU did business with China anyway. They moved most of their manufacturing plants to China, used Chinese people to work in their factories for penance, borrowed most of the profits derived by China and now they are poised to pay back China with worthless funny money. What was all this? Did the Chinese people understand what was happening? They were used as SLAVES!

    Like

    • the western world is OWNED by China…… just think on this. If China recalled every item it has made and sold to the western world what would be left on the shop shelves and in our homes and offices? NOTHING or very little.

      Like

    • evermore says:

      True in many regards but China has been very busy buying plenty of ‘hard assets” with all those “pretend” dollars they have. Here in Australia, they have bought huge tracks of land, industry, infrastructure and we are not alone. The Chinese probably can’t believe their luck. They may be thinking they are living in a weird remake of “Brewster’s Millions” where they are trying everything to get rid of useless US dollars so they spend like lunatics around the world on insane ventures but STILL KEEP MAKING!
      How frustrating for them? :(

      Like

  4. Tomwe says:

    This is not good.

    Like

  5. K.J. says:

    The EU is going to crater. Politicians are trying their best to put up a good front and make it look like things are happening but it is crumbling all around them.

    You can’t fix things by increasing debt. That is all that is being done and it is simply delaying the inevitable. None of the root problems have been fixed. Eventually they are all going to reach a wall where there are no other interim fixes available………… and we are nearly there.

    People have no idea how bad this is going to get for Joe Average on a daily basis. The new norm is going to a lot less than what most have gotten use to over the last 60 years or so. There are many big problems that we are just starting into that will also heavily impact the economies, such as the aging boomers and all that goes hand in hand with many millions of retiring and elderly people.

    We are looking at a long recovery period after the ball quits getting kicked down the road. At least a decade and closer to two.

    Like

    • NickK0 says:

      K.J., you are WRONG……. *What* retiring folks ??

      No one will be able to afford retirement anymore, it will be a thing of the past. :(

      – Nick

      Like

      • K.J. says:

        Nick……….. point taken. You are right, retirement will no longer be an option for some people. I still know lots who are going to retire, but they will not have a retirement like they had planned and worked towards for the last 40 years.

        My wife and I are still going to retire in the manner that we had planned, but there won’t be any holidays to Bermuda or Mexico I can tell you.

        Like

      • Madness says:

        I would like to point out that here in Australia the retirement age is set to 65 the reason for this is because when retirement was first introduced during the industrial revolution the average life expectancy was only around 50 so they never really expected people to be able to retire anyway, it was kind of like dangling the carrot before the horse.

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  6. kingkevin says:

    Honestly props to u China. Here in the west it seems we believe other people are obligated to solve our problems. Ironically those problems are caused by none other than the ones expecting bailed out. The leaders of our corrupt society, trying to blame China if things crash….beautiful, typical America

    Like

  7. luisport says:

    zerohedge zerohedge
    good idea: PAPANDREOU SAYS NEW GREEK PLAN MUST BE PUT TO REFERENDUM
    há 1 hora

    Like

  8. luisport says:

    zerohedge zerohedge
    And again: Greek government plans a vote of confidence on Friday, confidence debate to begin on Wednesday
    há 3 minutos » zerohedge zerohedge
    Three Out Of Four: Spain Joins Ireland, Portugal With A Gun To Its Head, Demanding Concessions http://tinyurl.com/627w754
    há 6 minutos

    Like

  9. luisport says:

    Stocks posted a double-digit gain in October. But the markets ended the month with Europe bringing everyone back to reality.

    First, the scoreboard:

    Dow: -275.3 pts, -2.3%
    S&P 500: -31.8 pts, -2.5%
    NASDAQ: -52.7 pts, -1.9%

    And now, the top stories:

    Global stock markets had been rallying big time after last Wednesday’s huge EU leaders’ summit. However, European debt markets have been telling us that there continued to be major problems in the area. This morning, stock markets finally caught on to Italy’s woes when the cost of Italian debt soared this morning. Italy is the third largest economy in the eurozone. We’ve been alerting MoneyGame readers to this red flag for a while. People clearly have little faith in Silvio Berlusconi’s ability to turn the country around. Most major European markets closed down 3%. Italy’s FTSE MIB Index closed down 4%.
    Late in the U.S. trading session, Bloomberg reported that Greek Prime Minister Papandreou wanted to hold a referendum on new reforms. This really spooked markets, which slid further after the news.
    One firm that suffered from making bad bets in Europe was MF Global, which finally filed for bankruptcy today. DealBook reported that Interactive Brokers was in talks to buy parts or all of the company as late as last night. But those talks obviously fell apart. MF shares were halted today. However, JP Morgan, MF’s largest unsecured creditor, traded and they fell.
    MF’s bankruptcy filing was affecting more than just the shareholders. A CME trader told us that trading activity on the floor dried up as MF Global was a major clearing firm. And MF wasn’t allowed into the building. Some even attributed the selloff in gold to MF Global.
    In economic news, the Chicago PMI, which measures manufacuring activity in the midwest, fell to 58.4, missing expectations that the number would fall to 59.0. The news obviously didn’t help stocks.

    Read more: http://www.businessinsider.com/closing-bell-31-2011-10#ixzz1cOO90dH1

    Like

  10. luisport says:

    zerohedge zerohedge
    Europe May Have to Raise Fund Capacity to EU3t, Buiter Tells FT. ONE HUNDRED GILLION EUROS
    há 15 minutos

    Like

  11. Roberto Lupe says:

    From a chinese site on saturday:
    “China no longer holds any bonds issued by the governments of Portugal, Ireland, Greece or Spain.”

    http://www.wantchinatimes.com/news-subclass-cnt.aspx?cid=1102&MainCatID=11&id=20111029000008

    Like

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