Value cooperation over cash

China is paying for global imbalances but a concerted effort is key to containing the European debt crises

Whether China and other BRICS members will give a helping hand to European countries that have been severely plagued by their looming debt crisis is now a hot topic around the world.

China's purchase of European debt would not be a show of generosity. To help extricate hard-hit European countries from their current predicament is tantamount to helping China itself. It is also the cost China, as an emerging economic power, has to pay for imbalances in the global financial system.