China is looking to buy EU factories and railways instead of wobbly government bonds as prices fall amid the eurozone crisis.I can’t wait for the real, nativistic fun and cheap, base cultural slander to begin:
Minister of commerce Chen Deming articulated the strategy at a business congress in China on Monday (28 November).
"Next year, we will send a delegation for promoting trade and investment to the European countries ... Some European countries are facing a debt crisis and hope to convert their assets to cash and would like foreign capital to acquire their enterprises. We will be closely watching and pushing forward the process," he said.
Speaking to the Sina Finance news agency, he hit out at what he called European "prejudice ... like the view that state-owned enterprises represent your country, that whatever your background is you're a military business."Along with the expected prejudice, in a silent way the slander has already started with the idea that Chinese investors would simply had over their money as directed, when in fact...
"You can come and buy a house, and you can emigrate here and bring your riches with you, or you can buy my luxury goods, but if you want to touch my natural resources, then I'm sorry, I won't let you."
For their part, Chinese analysts predict the spending spree will not begin until prices hit rock bottom.