What happens if we stop buying Chinese and even pay them in full? That's less than one thousand dollars per citizen over there.
It's going to take a lot more than that to stave off revolution with millions more out work and all the corruption and other state-threatening problems in Red China.
The euro blasted higher anyway, driven by hot money flows. The funds are beguiled by Germany's "Exportwunder", for now. It cannot last. The demented level of $1.57 will not be tolerated by French, Italian and Spanish politicians. The Latin property bubbles are deflating fast.
I believe it's true, no group of sovereign countries have ever shared a single currency successfully.
Either they combine into one country or give it up. It's been a picnic now there's trouble abrewing. Will the Euro survive? No. I bet.
(Though some like the Euro's protection against an individual country's currency being devalued.)
The northern countries are not happy with the southern countries performances, I believe. Real trouble abrewing.
That $870 billion is going to cover a lot of military expenditures.