Bolton: China's Interest in European Bailout Is a 'Concern'

Friday, 28 Oct 2011 04:57 AM

By Hiram Reisner

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Former U.N. Ambassador John Bolton says China’s interest in helping Europe resolve its debt crisis is “very political” and should be a matter of “real concern.” Bolton also told Fox News’ Neal Cavuto Thursday he anticipates the Chinese would seek an end to the arms embargo that has been in place since the 1989 Tiananmen Square massacres.
“Well, I think there is a real concern — we can already see some evidence of it, that if China does get involved in this European bailout, it has conditions that are very political,” Bolton said. “There has already been one interview with The Financial Times that says they want Europe to stop complaining about China’s currency manipulation.

“I could easily see China putting pressure on Europe to end the arms embargo that has been in place ever since Tiananmen Square,” he said. “And then it would go up from there.”

Bolton said if the Chinese begin to impose political conditions on their economic aid it will have “a fundamental effect, I think, on capital markets’ view of what they are up to.”

“And it could well affect all the other sovereign wealth funds that are out there, too,” Bolton said. “Remember, their basic argument is we are simply making economic decisions. If you begin to put political factors into that decision-making, it could have a profound impact.”

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