19 Oct '11, 7am

Project Syndicate - Pei Min Xin: Can China Rescue Europe?

Project Syndicate - Pei Min Xin: Can China Rescue Europe?

France's central bank governor (right) Christian Noyer, welcomes China's Finance Minister Xie Xuren in Paris, Oct 15, 2011. Finance ministers and central bank governors of the world's leading economies gathered to discuss how to save Greece from bankruptcy, beat a path out of Europe's wider debt crisis and restart global economic growth. -- PHOTO: AP 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. Sitting on the sidelines, emerging-market economies in general, and the so-called BRIC countries (Brazil, Russia, India, and China) in particular, may feel fortunate to be spared this financial maelstrom. But they should think again. With closely integrated global ...

Full article: http://www.straitstimes.com/Project_Syndicate/Story/STISt...

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