【明報專訊】NOW the US is on the verge of a double-dip recession, Europe is deep in a debt crisis, financial markets are treacherous and changeable, and world attention is again focused on China. It has been reported that even Italy, one of the G7, has tried to persuade China to buy large amounts of its government bonds. Though China has bigger foreign exchange reserves than any other country, they amount only to about US$3.2 trillion, which is to the West's total debt what a cup of water is to an ocean. China must not think itself "honour-bound" to buy US or European government bonds. It should only do what it can. It should make good use of the wealth its people have worked hard to accumulate to maximise the nation's interests.