The trade balance between EU and China is -156.3€ billions, yet today EU agreed with China (http://uk.reuters.com/article/2012/09/20/uk-eu-china-summit-idUKBRE88J0QR20120920) to avoid trade protectionist measures. They keep doing this because China keeps buying EU countries' bonds and has many euro-denominated assets. I honestly think EU is selling itself, by giving money and economic power to foreigners. And this could be handled differently even with the debt EU countries have. For example, Japan is the country who has the most public debt to GDP (230% in 2011 - http://en.wikipedia.org/wiki/List_of_countries_by_public_debt), well ahead European Union's. But the difference is that Japan's debt is mostly owned by the Japanese (http://www.usatoday.com/USCP/PNI/MONEY/2012-01-08-PNI0101biz-ask-stevePNIBrd_ST_U.htm), so the interest money goes to their citizens. The trade balance of China and US is also terrible for US. What is the West doing? Where does this irrationality come from?