Slow, sinking boat to China

[shesnoemu]

A question on my mind is why the EU and the rest of the world are looking to China to stabilize the economy?  I think it's a major warning sign that the entire world is in dire straits as China, although having the 4th largest economy, is a developing economy and very much reliant on the rest of the world to buy the stuff they produce.  If no one can afford it anymore, and the banks are no longer lending money to the Chinese companies, then the whole ship sinks.  Yet, their government claims they will be the heroes and stabilize the world's economy.  But how can they do that when they're on the brink of laying off 2.7 million workers (a conservative figure actually) in Southern China alone?

http://afp.google.com/article/ALeqM5hc2rYiyODxC0j7fWnn6maL2W0Rcg

http://www.bloomberg.com/apps/news?pid=20601082&sid=aV4dz3VnVNKo&refer=canada