China Can Not And Will Not Save The World.

　 British newspaper: China can not and will not save the world.

In August 5th, the Daily Telegraph published the view of Jonathan Fenby, head of China's Trusted Sources, "China can't -- nor will it save the world". The article says that as the western world prepares for a new round of financial turmoil, China, the world's second largest economy, seems to have the conditions to ride out the waves of the market, and even to save the developed countries with its wealth. But the reality is that China's self imposed constraints restrict China's ability and willingness to play a global role commensurate with its economic strength. The article said that China's inflation rate has risen from an average of 2% over the past 10 years to more than 6% this summer. In view of the fact that the leadership of the Communist Party of China is about to shift greatly in the autumn of 2012, the inflation rate will be reduced to about 4%.

The article also says that another obstacle to China's role as a global player is that China's economic success conceals the fact that China has failed to produce coherent global policies in terms of politics and economy. China has only repeatedly emphasized its few core interests over the years, such as maintaining an open global trading system, ensuring China's smooth access to commodities, maintaining its undervalued currency and rejecting criticism from the outside world about China's policy of the two countries. The article says that the current crisis is expected to highlight the limitations of the narrow thinking of China in coping with global affairs, and it will also highlight the fact that Chinese leaders are almost certainly willing to stand on the high side and view the fire with disapproval, instead of fighting to correct mistakes.

US newspaper: the Chinese blame the government for managing foreign exchange reserves.

In August 8th, the US report said that many Americans, and many Chinese, were upset by the downgrade of the US debt rating by standard & Poor's, who directed their anger at the Chinese government. China's Internet has been criticized for its ineffective management of foreign exchange reserves over the weekend. A netizen said in a statement that China's sovereign credit rating has been lowered. Why is China the biggest victim? China always succumb to the United States, when China can really stand up and put aside its persistent fear of the US reaction. The report says that many posts on China's Internet have similar nationalistic sentiments. The posters questioned whether the Chinese government's investment in US Treasury bonds in China's roughly $3 trillion and 200 billion foreign exchange reserves is in the best interest of China.

According to the report, a post on the Internet in China during the weekend can sum up the frustration of the Chinese public. This post says: "the Chinese work hard day after night, the current economic environment is so good, but the life of the ordinary people is not so good. This is because the government has tightened the belt of the people and has loaned the money saved to the United States.

China criticizes what is hidden behind American debt addiction.

The British Guardian newspaper published a commentary on Nils Pratley in August 8th. The article said that China criticized the US's addiction to debt, but in the view of Charles Dumas, an analyst at Lombard Street Research of the research institution, if it were not for China's implementation of the RMB exchange rate policy that was linked to the US dollar, and this policy was imitated by most Asian Pacific countries, the financial market would not be able to speak to the US for long before the real turning point in 2007. The article also quoted Dumas as saying that the pegging of the renminbi to the US dollar means that China has lost control of its economy and will suffer for a long time. In his view, the quantitative easing monetary policy aimed at preventing deflation is "the burden of economic adjustment on China (and other Asia Pacific countries)," in particular the high inflation in these countries.

The article said that Dumas believes that because the United States is going to solve its own debt problem, it will have some form of economic recession or depression next year, but because China's inflation is actually effectively helping the US dollar to depreciate, the US economy should improve faster than most Asian countries, and China's export driven growth economies are likely to suffer heavy losses due to the US's reduction in net imports.