MEDIA REACTION: FINANCIAL CRISIS, U.S. POLITICS

UNCLAS BEIJING 000482

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: FINANCIAL CRISIS, U.S. POLITICS

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Editorial Quotes
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1. FINANCIAL CRISIS

a. "Whomever saves the most energy, will be the first to recover
from the crisis"

The official Communist Party international news publication Global
Times (Huanqiu Shibao)(02/25): "Energy conservation is not only
about saving energy; it drives internal consumption and alleviates
external pressure. Energy conservation has a far greater influence
during a financial crisis. The new energy policy of President Obama
intends to be more influential. Energy conservation will not only
bring large economic benefits, but it will also bring social
benefits. Among Obama's economic stimulus plan, about 150$ billion
will be used to improve energy efficiency. China's current efforts
towards economic recovery are facing great challenges because it is
difficult for China to enlarge its exports. Therefore, the quickest
method, where by the government can improve its energy conservation
is through various state-owned companies. This is the best way for
China to step out of the crisis."

b. "Facing crisis, what kind of attitudes do we need"

21 Century Business Herald (21Shiji Jingji Baodao) under Guangdong
21 century publishing company Ltd. (02/25): "On February 17th the
U.S.- China Economic and Security review held a hearing to address
China's role in the origin and response to the global recession.
Only the Chairman of Morgan Stanley Asia backed up his approach with
statistics. If people can give numbers and talk sense, no matter
what the conclusions are, it helps us to understand the core of the
problem. While on the other hand, when one says something like
Paulson did, blaming the Chinese people's savings habits; and
Geithner blaming China for manipulating its currency; these
statements, without providing convincing figures, may sound
straightforward. But they are useless for solving the problem.
Paulson and Geithner only criticize without providing statistics and
numbers. This behavior doesn't help solve the problem."


2. U.S. POLITICS

"Chinese American may head Commerce Department"

The official English-language newspaper China Daily (02/25): "Yin
Chengde, a former diplomat at the Chinese Embassy in the U.S., said
Obama's nominations of Chinese American's reflects he
strategy.'Obama is a mixed blood president. So, he is more open when
it comes to naming a talent with yellow skin to a high position.' It
is highly possible that the U.S. president has taken Beijing's role
into consideration while making the decision. 'The move would
definitely facilitate cooperation between the two sides, especially
in the energy and commerce fields which are high on the agendas of
the two governments.'"

PICCUTA