Thursday, March 04, 2010
The Chinese are sharing the planet with drunken adolescents
The EU has an outstanding debt of $11 trillion, of which Greece "owns" $267 billion. If the Europeans start saving 10% of their product, they may pay back their debts and interest in about 15 years. To whom? The Chinese. China, Singapur, Taiwan are the creditors. Sooner or later China will be forced to impose some discipline among the irresponsible countries, so they can go on functioning and gradually pay back their debts. The Chinese appear to be the only sober race on Earth.