Europe needs money? The Chinese are happy to oblige. However, if the Italians thought they were going to out-negotiate their Chinese counterparts they must have been surprised.
First, Chinese investment in Italy will be in equity for strategic companies. NOT for Italian government debt. This means, a greater influence of China (still under a one-party system) in Italy, and no short term solution to the billions Italy needs over the next 12 months.
Second, China will continue to collaborate with Europe in exchange for greater access to European markets, an interesting pact-with-the-devil of sorts as the European firms will have to compete harder against their Chinese counterparts. One thing is sure, employment will not go up.
Will the Brazilians ask for their pound of flesh as well? How opening Europe's agricultural markets? (Quel horreur!)
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