While ' ISTAT us that unemployment is the highest since January 2004, with 24.7% of young jobless rate and a of inactivity of the population between 15 and 64 years (ie the percentage of those without work and not looking) 38.6%; in this newspaper seems to pass on some news from the results in a huge mute, or that the " China is ready to save the € ! " With its huge foreign exchange reserves China, already 'first U.S. underwriter of bonds, was committed in recent days to buy debt Portuguese. now open and 'European-wide .
The question is: the Chinese are bluffing or serious?
If the Chinese were bluffing means that it is just beautiful promises made to countries without anything PIIGS Specifically, for the sole purpose of making grants to enjoy the year-end rally.
And if they were serious, and then allow China to buy euro-bonds, however, what is the price to pay?
"At stake are huge economic interests as those treated in the bilateral summit with the EU took place in the Chinese capital: a non-belligerency in international trade that could lead to a bilateral treaty on investment, and perhaps a stronger China-EU coordination in the G20. "
Rest assured that the Chinese do not care about the resumption of the EU economies without having anything in return.
You know the China-US relationship? There is a covenant, not too hidden, between the two countries, namely: China holds most of the bonds in exchange for American and the U.S., consumer country par excellence, takes care of buying the junk generated by the immense Chinese cheap labor available.
If China were allowed to buy European debt the grant would be to authorize an invasion of "our house", implemented by ' elusive Chinese labor , which would end up completely flake off the already fragile local economies. When you consider that in Italy, 99.9% are small and medium enterprises and almost all of SMEs (95%) consists of companies with fewer than 10 employees, comes from if you can not compete with the giant Chinese that will be facilitated by "a non-aggression in international trade", that it enter into our country from the main entrance.
This possible move by China could, if implemented, make it jump in much less than a decade from second to first place in the ranking of the most powerful economies in the world, overtaking the U.S. in terms of gross domestic product.
The path of the Chinese dragon inexorable advance and could do a scorched earth in its path.
begin to look for some Mandarin Chinese language course, it might come in handy in the near future.
Salvatore Tamburro
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