China as J.P. Morgan Might Have to Save World: William Pesek
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Sept. 28 (Bloomberg) -- China and the U.S. finally foundsomething to agree on: Europe is doomed and might take theworld’s two biggest economies down with it.
Neither officials in Beijing nor Washington are actuallyusing the “D word.” They don’t need to, not with ZhouXiaochuan, China’s central bank governor, talking matter-of-factly about emerging nations bailing out the euro region andU.S. Treasury Secretary Timothy Geithner warning of “cascadingdefault, bank runs and catastrophic risk” there.