Big Brother, can you spare a dime? Eurozone democracies, short of cash and devoid of ideas and leadership, are racing to tap communist China, which has $3,200bn of foreign exchange reserves. Other emerging markets have huge forex reserves, too, and are also being touted as possible investors. But Beijing is the first port of call. China has a big interest in saving the eurozone, which is its biggest trading partner. But the eurozone leadership’s vanishing credibility means the bloc is playing with a very weak hand.
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