Skip to comments.China Investment Stops Buying Europe Debt on Crisis Concern
Posted on 05/10/2012 10:36:14 AM PDT by tcrlaf
China Investment Corp. has stopped buying European government debt because of an economic crisis on the continent, though it continues to look for new investments there, said CIC President Gao Xiqing.
"What is happening in Europe right now is of course of concern," Gao said yesterday in an interview in Addis Ababa, Ethiopia, during the World Economic Forum on Africa. "We still have our people looking at opportunities in Europe, even though we don't want to buy any government bonds."
European leaders are struggling to contain a debt crisis that has entered its third year and led to bailouts of Greece, Portugal and Ireland. Officials have pledged to tighten fiscal frameworks amid concern the situation would envelop Italy and Spain, the euro region's third- and fourth-biggest economies.
(Excerpt) Read more at sfgate.com ...
Even the Chinese are no longer willing to throw money at markets so manipulated by apparatchiks, that they have no idea what true value is.
And France just voted in ANOTHER socialist. Just what they needed, right??
When a pyramid scheme is unable to acquire new members, the collapse happens pretty fast.