欧元区

China sets terms for largesse in Europe

Xing Fushan sells electric scooters in the suburbs of Beijing and understands little about high finance but has strong opinions about Chinese purchases of bonds issued by crisis-hit European countries.

“China shouldn’t buy European bonds because the US can’t even pay their debt, so in the end, China will lose money,” the 30-year-old salesman says. “With so much money, wouldn’t it be nice if the government could do some real good things for the [Chinese] people?”

The idea that China might be willing or even able to bail out debt-laden Europe by purchasing huge amounts of potentially worthless bonds is one that elicits disdain from most parts of Chinese society.

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