2008-12-05 — telegraph.co.uk
Lou Jiwei, the chairman and chief executive of the China Investment Corporation, a $200bn (£135bn) fund, said China had no intention of "saving" the West from the financial crisis.
They're more interested in us making good on all that toilet paper we sold them. Maybe then we can talk about fresh, deals eh?
There's also a lot of pressure domestically to do something to keep China from collapsing internally, now that so many are jobless. It would genuinely be ridiculous for them to go spending more on Western financial bailouts.
He added that the panicky pace of rule changes by Western regulators also gave him cause for concern. "The policies of the developed nations on these financial institutions are not clear. Until they are clear, I don't dare to invest in them. What if they go bust? I will lose everything," he said.
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bdc63 at 20:45 2008-12-05 said:
So, let me get this staight. China won't buy US banking stocks because they are afraid "they might go bust". But yet they continue to plough billions into US Treasuries when every one knows that this country is insolvent and most assuredly WILL go bust ... Permalinkadd a comment | go to forum thread
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