I guess it's already pretty large. It seems as if the days of cheap Chinese labour will soon be over.
But before that we all have to face the crunch. Italy and Spain seem uniquely wobbly these day because the bond market is dull, everybody is waiting for the implementation of the euro rescue plan. So if someone walks into the trading room saying "I've got a couple of Spanish bonds here that I'd like to lose fast", the whole floor is up in arms: "There goes Spain!"
From the Frankfurter Allgemeine to Le Monde to The Telegraph the sentiment seems to be the same: this problem is much deeper and wider.
AIIOriginally Posted by Telegraph
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