Folks something happened today at the g-20

[nadinbrzezinski]

China, yes THAT CHINA has threatened not to continue to prop the Euro...

So what? It used to be the us who issued such threats and made the world tremble. Mark calendar in the transfer of real power to the EAST.

Now back to your regularly scheduled day.

[madrchsod]

1. until china implodes......

what is the true value of the chinese currency?

[nadinbrzezinski]

3. You think this is not happening?

That new world order is comming, unless we have a new world war. I guess Europeans laughed about that upstart in 1905.

[gateley]

2. Excellent - and sobering - observation, nad. I guess everyone

in the world knows except the citizens of the United States of the Richest Country on Earth.

[dipsydoodle]

4. question is how much would you lend

If you thought at best you'd only see 50% back?

[DJ13]

5. Who will buy Chinese crap if Europe (and the US as a result) falls apart?

[nadinbrzezinski]

6. The point is we have a transfer of power and a new empire rising.

[DJ13]

15. I understand that, but its a new empire based on exports

No exports, no empire.

And the Chinese government hasnt built up a sufficient middle class consumer economy to absorb the output of goods if exports collapse.

[robinlynne]

10. China, brazil, and India, where the US coporations are moving their sales to already..

[DCBob]

7. There are about dozen scenarios where China implodes.

Their current high flying status is extremely tenuous.

[girl gone mad]

12. China is not going to implode.

Don't be such a Debbie Downer.

[DCBob]

16. so says the China Cheerleader.

;)

[joeybee12]

8. Oh yeah, it's painful to see how much we've declined...knr

[abelenkpe]

9. Why would anyone want to prop up the Euro?

Honestly, everyone knows defaults are coming. Austerity doesn't solve anything. And central banks are unwilling to print.

It's a fools bet.

That said China has it's own real estate bubble and currency problems. The world is so entwined that no one will be unaffected as the crisis continues. The question is will humans solve this peacefully or through war.

[ThomWV]

14. Slave traders will always support the slave trade.

[Swede Atlanta]

11. Indeed....

I have said this for some time. The Chinese have won the war with the West without firing a single shot. They have the U.S. and Europe by the ands and can dictate their own terms. If anyone dares stand up to them the entire world financial system collapses. China, I think, is willing to take that change...that is that someone would actually stand up to them.

The 21st century belongs to the Chinese and the Murikans who continue to claim American exceptionalism are those that flunked history. Empires come and go and no empire is immune to that rule. Many think that God, well Jesus, somehow makes us special but so did the Holy Roman Empire, etc.

The West needs to get its act in order but recognize that power has shifted to Beijing and Delhi. The U.S. and Europe are secondary citizens in the global economy.

[Laluchacontinua]

20. There's no war between China & the west. It's a mutually beneficial arrangement

for the oligarchs on both sides.

I think the actual war going on is quite different.

[tex-wyo-dem]

21. China will continue to prop up the West as long as they can....

Because the West still holds the lions-share of wealth in the world.

Then there is the East with its teeming masses that are buying lower cost goods by the boatload. Once the East starts catching up with wealth per capita, watch out, 'cause we are f'd.

[Prometheus Bound]

13. PBOC Adviser: China Support For Euro Zone May Reach $100B

http://online.wsj.com/article/BT-CO-20111103-704984.html

[dipsydoodle]

17. I don't think that's direct

If anything its into the IMF.

[Prometheus Bound]

22. Two things.

1. China has no choice but to keep buying Euros to keep the yuan down against the currency of its largest trade partner.
2. The EU doesn't have a huge current account deficit as the US has so it doesn't really need the Chinese.

So it's pretty embarrassing for France to be seen sort of begging China for support (and inevitably giving concessions) that doesn't really do anything to solve the EU's problems.

[CJCRANE]

19. Also notice the word "may"...

AFAIK no concrete deal has been reached.

[flamingdem]

18. They offer great courses in Mandarin at the local Community College

... if you can't beat 'em...