MEDIA REACTION: BUYING AMERICAN BILL, FINANCIAL CRISIS,

UNCLAS SECTION 01 OF 02 BEIJING 000284 DEPARTMENT FOR INR/R/MR, EAP/CM, EAP/PA, EAP/PD, C HQ PACOM FOR PUBLIC DIPLOMACY ADVISOR (J007) SIPDIS E.O. 12958: N/A TAGS: OPRC KMDR CH SUBJECT: MEDIA REACTION: BUYING AMERICAN BILL, FINANCIAL CRISIS, PREMIER WEN'S EUROPE TRIP -------------- Editorial Quotes -------------- ¶1. BUYING AMERICAN BILL "'Buying American' is using the wrong solution; this will cause more problems in the future" The official intellectual publication Guangming Daily (Guangming Ribao)(02/05): "The International Opinion described the recent 'Buy American' bill as an extremely stupid economic policy. The international community has had a strong reaction to the bill largely because the mistake by the Hoover Administration, 80 years ago, brought the globe into a depression. American Democrats favor trade protectionism and from the moment Obama was elected they began to aim trade protectionism at China. If the 'Buy American' bill is passed, China's steal industry will be largely impacted. U.S. trade protectionism is the wrong resolution and will cause more problems in the future. If several major economic countries sacrifice other countries' interests in order to look after their own domestic economic needs, the global economy will be at a standstill. We can't just sit and watch that happen." ¶2. FINANCIAL CRISIS a. "Financial crisis increases China's diplomatic space" The official Xinhua News Agency international news publication International Herald Leader (Guoji Xianqu Daobao)(02/05): "The financial crisis has made the Western media more careful when criticizing China. China should be the founder of the international financial order since it is reorganized as the solution to the crisis. Now is an opportune time to extract China's own values from China's current political and economic system. This is a chance, provided by the crisis, for China to improve its soft power. The crisis has also provided China a chance to compete with the West in its systems and values. China needs to use its economic power to gain more political space. China could refuse to cooperate with the country who always tries to bully China. This is more effective than just criticizing certain politician's comments. Politicians come and go but national interests are here forever." b. "The financial crisis tests a country's morals" The official Communist Party international news publication Global Times (Huanqiu Shibao)(02/05): "The resistant sentiments by many Europeans and Americans concerning foreign workers and products is expanding. Some Asian and Latin American countries are also issuing trade protectionist statements. However, after trade protectionism, there may be a trade war. Once a global trade war begins, globally people will be harmed. There will be no winner in a trade war. How should we avoid a trade war that is destined for failure? The current financial crisis tests the World's morals. The behavior of a certain country's 'caring for its own interests in the face of a disaster' has been broadly criticized by various parties. Swedish analysts indicate that as the financial crisis comes closer to home, the U.S. is taking the lead in setting up barriers to free trade. Protectionism is a typical and selfish behavior of the U.S. China will send a purchasing group to Europe. Chinese experts indicate that since the U.S. and other Western countries are swinging their flags toward trade protectionism, it shows that they have ignored the moral responsibilities of a global power country. This crisis has put the U.S.' morals at a greater risk. It is not likely that a trade war like that of the 1930s will happen. There was no 'General agreement on tariff and tax' or World Trade Organization at that time. However, all countries never give up on the weapon of trade protectionism. China should first make an effort to promote a just and reasonable international economic order and meanwhile avoid focusing their exports on several certain countries." ¶3. PREMIER WEN'S EUROPE TRIP, PROTEST AGAINST THE PREMIER "Thoughts about 'the shoe'" The official Xinhua News Agency international news publication International Herald Leader (Guoji Xianqu Daobao)(02/05): "This incident has two aspects: China is emerging stronger and stronger and other countries are likely to pay serious attention to China. If China had little effect on the countries' core interests, the incident would hold little sway. On the other hand, the economy is not the only topic of dialogue between China and the World. If China really wants to be a responsible superpower, it has to be prepared to face not only smiling faces, but also criticism and attack. Considering China's economic development, it is incapable of saving BEIJING 00000284 002 OF 002 the World. But China should not be pessimistic. The 'shoe' makes us realize that there are many more aspects that China should work on in the international system in order to get along with the World." PICCUTA