To bail out suffering financial firms, the Western governments need a lot of money. And China seems a good place to get it. But it will be very unlikely that will write a blank cheque since they are also busy trying to protect their economy from a domestic economical slow-down. And any offered help will be attached with demands. In a certain way it’s a good thing China gets more power/status but when Western governments become to dependant from foreign loans, they could force all kind of decisions just because they have the money.
In fact, the Chinese are already doing something similar for a couple of years. They bought pieces of the US national debt which allowed the US government to spend more than they actually had.
China can’t help on their own, also the other emerging economies such as India, Brazil,.. need to help. And even if the money is available, it’s not certain the political will is present. Chinese leaders already said they believe Western governments should solve their own problems. I think that the emerging economies should also try to stabilize the world economy with everything what’s in their power, because sooner or later, it will affect their economy to.
Source: http://news.bbc.co.uk/2/hi/asia-pacific/7671482.stm
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