Can China Rescue Europe?
Some have called upon major emerging countries, and on China in particular, to step up and use their huge foreign-exchange reserves to purchase the debt of crisis-ravaged countries, such as Greece, Italy, and Spain. China can't rescue Europe by itself, but it certainly has the means – and the incentive – to help.
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CLAREMONT, CALIFORNIA – The debt crisis in Europe is no longer a European affair. Coupled with fears of a double-dip recession in the United States, the European debt crisis is dragging the global economy into another cycle of financial panic and economic recession.