ENTITLEMENT WITHDRAWAL: Spain's Zapatero Hopes China Will Increase Holdings of Spanish Bonds - WSJ.com: "- Sent using Google Toolbar"
The article's title says it all!
Let China support the weakening of Spain by investing in government (read income transfer programs, retirement programs, uncompetitive work rules, etc.) - all of which only go to further strengthen the competitive advantages of China.
The European and American sense of 'entitlement' to all these benefits is clearly a drug from which recovery is more difficult seemingly than heroin or cocaine.
Wednesday, September 1, 2010
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