@ZMaj - certainly PIGS isn't a pretty acronym, but it was in common use at the height of the crisis. It does mask the fact that the issues in each of the countries is somewhat different.
@Orathaic - I think it is a mistake to regard China as homogeneous. I worked there for a while, and in my first couple of months I was astonished to see several provincial governments defying Beijing over the introduction of new taxes. Generally, the country does take a longer term view of things, but I came to recognise very different mindsets in Guangzhou, Shanghai, and Beijing. They may not be experienced at considering the concerns of their neighbours, but they have a lot of bright people and are keen to earn.
@Jeff Kuta - the US is very powerful and most countries prefer you as a friend than an enemy. However, the "big stick" can be seen as somewhat threatening and, when wielded, makes enemies.
I have worked in more than 50 countries, and with people from probably twice that many, including a few that you might consider to be the source of great evil. I have learnt that our similarities are far greater than our differences. Most people are worried about the same things: the health, welfare, and education of their children, themselves, and their parents. Wonder what keeps Xi Peng awake at night? It is keeping over a billion Chinese happy about those things, otherwise he is toast.
Ever thought about who risks building home-made rockets to fire from Gaza into Israel? It's a smart guy who should be at university but cannot, because the border is closed, and has lost hope. Foreign policies need to be built around extending hope and opportunities to all.