China Takes Firm Stance on European Bailouts
This past Saturday, Chinese officials from various organizations including the China Investment Corporation participated in a lengthy IMF meeting to discuss global economic and financial issues, especially regarding the stability of Europe. Over the past year, several European Governments deeply courted China to induce them to purchase their sovereign debt. The China Investment Corporation, one of China’s sovereign funds said it needs to protect its own interests first since that is what it is mandated to do. Basically, the CIC invests to make a commercial profit, not to bailout firms or governments for the sake of it.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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