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On the bright side the Chinese economy still has huge state owned enterprises that are significant operators and it still has over $1 trillion in foreign reserves. Perhaps we have found the perfect place to apply the US new classical principle that debts don't matter as they just represent changes in who owns what and who owes what to whom. The Chinese could largely settle this amongst themselves.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Jun 20th, 2013 at 10:52:30 AM EST
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