From 24/7 Wall Street:

Plagued by high deficits and a drop in its credit ratings, Greece has to raise money as quickly as it can to fund its national debt. According to the FT, is will try to market $25 billion euros in paper to Beijing. China has, as it likes to remind the world, $2.4 trillion in foreign exchange reserves.

China will probably take the Greek offer and get very high interest rates in exchange. The transaction may be a sign of things to come.

China should be able to extent its strategic financial relationships around the world by…

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