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 This time China has no lifeline to throw us- This time China has no lifeline to throw us
- October 11, 2012
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The eurozone crisis is threatening the entire world economy. Unlike in 2008, Beijing cannot step in as saviour.
The Seventh Cavalry always rode to the rescue, particularly in Hollywood movies starring Randolph Scott. As the world economy teetered on the brink in late 2008, the economic equivalent of the Seventh Cavalry did much the same thing, with Scott's heroic role taken by Chinese Premier Wen Jiabao.
Faced with an export meltdown and the risk of domestic paralysis, China reached for the smelling salts. Offering interest rate cuts and huge increases in infrastructure spending, China's economy gallop...
- View more at: http://www.1888pressrelease.com/this-time-china-has-no-lifeline-to-throw-us-pr-429840.html
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