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Cablegate: Media Reaction: U.S.-China Relations, Financial Crisis

VZCZCXRO6668
RR RUEHCN RUEHGH RUEHVC
DE RUEHBJ #4694 3650845
ZNR UUUUU ZZH
R 300845Z DEC 08
FM AMEMBASSY BEIJING
TO RUEHC/SECSTATE WASHDC 1656
INFO RUEHOO/CHINA POSTS COLLECTIVE
RHMFIUU/CDR USPACOM HONOLULU HI

UNCLAS BEIJING 004694

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: U.S.-CHINA RELATIONS, FINANCIAL CRISIS

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Editorial Quotes
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1. U.S.-CHINA RELATIONS

"China must avoid provoking the sensitive nerves of the U.S."

The official Communist Party international news publication Global
Times (Huanqiu Shibao)(12/30): "An American professor indicates that
U.S. studies concerning China have emphasized political issues over
the past 50 years but, have now changed to emphasizing economics. It
symbolizes a new phase of the U.S.-China relationship and U.S.
studies concerning China. This is symbolic because, generally,
economics are the most important concern in the relationships of the
U.S. and its allies. Over the past 30 years, the majority of
U.S.-China exchanges have been disputes over political issues.
Because of the political differences between the two countries,
there have been many conflicts concerning stances and ideology.
However, today the verbal conflicts between the two countries have
largely decreased. For China, more substantial cooperation between
the U.S. and China may cause the U.S. to overreact. Therefore China
should insist on maintaining its own interests in dealing with the
U.S. First, it should learn and recognize what the U.S. is most
sensitive about and take actions to avoid provoking the U.S.'s
sensitive nerves. The U.S. needs time to acclimate to the new role
that China will play as an equal country to itself. In some cases,
China should care about the feelings of the U.S. Appropriate and
timely communication can avoid misunderstandings and misjudgment,
especially when the U.S.-China mutual trust is still rather low. For
the next 30 years, the mature, stable and practical U.S.-China
relationship will act as the main driver and leading power in global
development."

2. FINANCIAL CRISIS

"RMB's internationalization makes an important step forward"

The China Radio International sponsored newspaper World News Journal
(Shijie Xinwenbao)(12/30): "Recently the State Council decided to
give settling trades with ASEAN in certain regions a trial run. This
means the RMB can be directly used as an import-export settlement
currency in these regions. The rapid growth of China's economy has
greatly influenced neighboring regions, which make it necessary to
build a RMB currency zone. Setting up such a zone is not challenging
the U.S. dollar, but suggesting the need for regional economic
integration. Although the RMB is not yet an exchangeable currency,
the Chinese government has recently stepped up its efforts towards
the internationalizing of the RMB. Upgrading the RMB to a regional
trade-settlement currency is a necessary path towards
internationalizing the currency."

RANDT

© Scoop Media

 
 
 
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