The new China price. What China will ask for return for bailing out Europe, the EU.
The global stakes and situation in Europe just get bigger and wilder. Last week, news of a mega-deal that would put a cork in the bottle of European financial chaos, contain the contagion. Now, Greece will go to the polls to vote on whether or not to take that pain. If the vote is no, who knows where we go.
Meanwhile, Europe?s first call after the deal was not to Washington, but to Beijing. They need Chinese cash ? lots of it – to make this work. The US hasn?t got it. So here we are. Europe begging China for a bailout. And the planet?s power matrix turns.
This hour On Point: the China price for a bailout.
Alkman Granitsas, bureau chief for Greece and Cyprus for Dow Jones Newswires and contributor to the Wall Street Journal.
Pieter Bottelier, adjunct professor of China Studies at the School of Advanced International Studies at Johns Hopkins University.
Arvind Subramanian, senior fellow at the Peterson Institute for International Economics, author of “Eclipse: Living in the Shadow of China’s Economic Dominance.” His op-ed in the New York Times is “Why China Should Bail Out Europe.”
Clyde Prestowitz, is founder and President of the Economic Strategy Institute.
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