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China Building Power over Greece through Debt

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ilaughatrightwingers Donating Member (475 posts) Send PM | Profile | Ignore Sun Oct-03-10 10:13 PM
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China Building Power over Greece through Debt
 
Run time: 03:17
http://www.youtube.com/watch?v=H9Q7zzBVTE4
 
Posted on YouTube: October 04, 2010
By YouTube Member: MaoistRebelNews2
Views on YouTube: 18
 
Posted on DU: October 03, 2010
By DU Member: ilaughatrightwingers
Views on DU: 571
 
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DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-03-10 10:19 PM
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1. Greece has a long history of defaulting on debt
China may end up with the short end of the stick this time.
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jonathan_seer Donating Member (80 posts) Send PM | Profile | Ignore Mon Oct-04-10 04:23 AM
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2. this is nonsense for so many obvious reasons
When it comes to a situation like he describes as possible, Europe would step in, just as they did with the Greek financial problem.

He is wrong on that point also.

If Europe hadn't stepped in after wringing every possible concession from Greece, Germany and France would have paid in the billions, because it was mostly their banks who held the debt and still do.

The bottom line is even if the rest of Europe did NOT care, they would act because the EU is a single market. Access in one nation often means equal access to every EU nation.

The fact that this guy seems oblivious to this, and the implications is all you need to know what he says is nonsense.

It's also a bit paranoid.

It's the kind of thinking that got us into 2 wars.

It's cold war thinking.

If China is so evil, why are we doing business with it.

And it would have to be "that evil" to justify worrying about a small purchase in total of Greek bonds.

His whole premise is just poorly thought out and utterly illogical.

Every nation has ulterior motives. We may not agree with China's ulterior motives, but that doesn't necessarily make them wrong.

Time needs to pass before jumping the gun and automatically declaring a Chinese investment in Greek bonds proof of laying the groundwork for sabotage of the EU.

Finally a far more logical and sensible explanation in this case is revealed when one takes into account the PRChina's willingness to take much smaller markets vs. a vs. competitors.

This is not due to a desire to subvert and take over as much as a different world view.

The Chinese figure it's better to make a 1000 deals very fast and build quickly to make 1,000,000,000.

That's very different from the blatantly singularly greed motivated modern Western basis for action which is to get the maximum amount possible by any means possible for every single deal.

Both sides are equally interested in money, but the PR China doesn't hold maximum yield as the only principal upon which to base every decision.

So the reason the PR China is stepping in is it sees a golden opportunity to make quick and easy money offering to lend to Greece at lower interest rates than the Western financiers.

Being so flush with cash, they certainly feel no pressure to demand the highest interest rates matching western financing, and by offering Greece this deal and indirectly Europe, the PR China can score big points with almost all the Governments who are all very tired of the hard as nails tactics of modern finance.

By giving them an alternative - competition, sooner or later they will have to match the lower offer add value to justify the higher price.

By doing this PR China can help the European economies recover more quickly and relieve itself of the pressure to allow its currency to float.

All very normal rational reasons for this sort of thing.

The paranoia he uses in order to "figure out" the PR China is just unnecessary and silly.
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