Inquiring minds are watching China attempting to become the worlds banker. This time it is Portugal is needing Chinese money:
China will “financially” help Portugal. So said the Portuguese Ambassador in Beijing following meetings that the Portuguese Finance Minister, Fernando Teixeira dos Santos, has had with the Chinese leaders during his visit to the country, according to what has been reported by the Bloomberg agency. Dos Santos has gone to China to try to persuade Beijing to buy Portuguese debt. The financial aid will be supplied “now and also in the future in view of the measures that Lisbon has approved for the restructuring of its economy,” reads a communiqué from the Portuguese Embassy. “We have made a great step forward in strengthening our relations at all levels: trade, investment and the financial sector,” Dos Santos told Portuguese agency Lusa. “China is supporting Portugal and will continue to do so,” he concluded, without specifying the amount of stocks that Beijing has already bought or will buy.
One wonders how much money China has. They looked to be stretched very thinly.
They may be trying to reproduce what the United States did decades ago but China doesn’t have the demographics to pull it off thanks to three full generations of its one-child-per-family policy. China doesn’t have the young families forming in enough numbers.
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