It's amazing what politicians will do to keep the status quo and their privileged positions.
The idea that China, a country of peasants who can barely afford to feed themselves, should put money into Eurozone bonds to bail out the fat cat bankers of Europe seems to defy common sense. And yet, the financial markets rally on the news. So much for the crap in finance textbooks known as the 'efficient market hypothesis'.
On China's part, it is merely trying to keep its mercantilist policies going, since it needs an export market for its excess industrial capacity. Global debt deflation will immediately bring China into a Kondratieff winter that will make the Great Depression look mild. Also, given the problems within China's financial system, one has to wonder where they are going to find the money to bail the Europeans out. The US$ 3 trillion in reserves that the PRC supposedly has isn't actually enough to fix the internal financial black-holes there.
As for Europe, I think the 'peasants' who still can't accept the fact that their 60-year experiment with socialism has failed will eventually rise up and revolt against the political establishment in Brussels and their respective home countries. Europeans will not likely take kindly to the prospects of their politicians selling the continent's 'crown jewels' to China. This is something that the CCP leadership appears not to have understood so far.
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