Can China Save Greece – And the EU?

China is the EU's second trading partner behind the US, and the EU is China's biggest trading partner. “The EU is committed to open trading relations with China. However, the EU wants to ensure that China trades fairly, respects intellectual property rights and meets its WTO obligations,” notes the European Commission. Chinese Premier Li Keqiang attended a China-EU summit in Brussels, and all attending expressed concern about Greece and its possible exit from the EU. Greece defaulted on €1.5 billion in debt to the IMF and scheduled a referendum on a new round of austerity measures in exchange for more aid. Greece’s exit and subsequent debt struggles and breakdown of the EU could prove disastrous for China. China with its massive reserves could also come to Greece’s rescue. China may not offer direct aid, but like other foreign investors, could invest in Greek bargains in less direct ways. –YaleGlobal