Interesting bit as part of news about Euro Debacle

"Yet even as it predicted the trouble, Germany failed to anticipate that the countries running a trade surplus would inevitably need to finance the southern states’ shortfalls. The five most heavily indebted euro members owe German banks an estimated 700 billion euros (nearly $900 billion), and these German surpluses, once regarded abroad as a symbol of great strength, have emerged as a dangerous source of vulnerability. Most sickeningly for the Germans, the indebted nations are likely to say that their debts need to be reduced or restructured in the name of European solidarity."

China shall be looking at how Germany has to fund his neighbors to save European union future , china would be in similar danger sometime if they keep on running trade surpluses and US decides to default.