Fareed's Take: Only China can save Europe By Fareed Zakaria, CNN September 18th, 2011 08:36 AM ET After World War I, European nations were battered by debts, and Germany was battered by reparation payments. The only country that could provide credit was the United States. For America, providing desperately needed cash to Europe was its entry into the councils of power, a process that ultimately brought a powerful new player inside the global tent. Today's crisis is China's opportunity to become a "responsible stakeholder" in the global system. If this doesn't happen, hold on to your seat because we're in for a rough ride. read more: <iframe width="560" height="315" src="http://www.youtube.com/embed/Fc2FOvE9iVw" frameborder="0" allowfullscreen></iframe> Do you agree?
there is a shortage of women in china because of the 1 child policy which will continue for many years. I am sure berlansconi can work out a deal.
Sorry here's the link, forgot to paste it http://globalpublicsquare.blogs.cnn.com/2011/09/18/zakaria-china-save-europe/?hpt=hp_t2
it makes sense since that is the whole point of the IMF but how will the PIIGS make the structural changes necessary without having massive revolts from the citizens? Fareed isn't saying anything revolutionary the hard part that will require actual creativity comes after the bailout. I actually haven't studied the problems of the PIIGS that closely but isn't their situation different from what happened here in 2008 because we are talking about sovereign debt and not just big banks failing? Banks can't raise taxes. If the IMF does do a massive bailout with china's money will the euro eventually be unwound? Or will just solvent countries use the euro and make the PIIGS just start spending renminbis? Just start making everyone in Europe pay for their own health care then a large chunk of the unemployed could work in the new health insurance industry. That would probably create 2 million jobs plus those tax dollars that once went towards health care could go towards paying down the debt. Then in time they could even lower taxes. How does health care work in china?
So all those Donnie Yen movies I watch are pretty much dead on accurate. Why do we have such a hard time letting sick and old people die in the US? Why does medicare pay so much so some 80 year can live 1 more year? Am I sick to think this way? Or are the people that want to keep mom and dad or grandma and grandpa alive greedy? This has nothing to do with this topic, sorry I'm bored.... God I hope all the PIIGS fail and the shit hits the fan then my perma bearishness will finally pay off. ES gaping down looking for 1191
even hard core "conservatives" in Europe would not dare to do away with Universal health care. In Europe Heathcare services is considered to be a human right, not some kind of product that you buy.
For the IMF to keep money some place doesn't that country pretty much have to make the changes they deem necessary? If I was the head of the IMF I would make every spainish and italian female under the age of 30 but over 17 and under 135lbs remain topless until the debt is paid off. Oh wait DSK probably has the same idea