6 July, 2015 AsiaNews.it Twitter AsiaNews.it Facebook            

Help AsiaNews | About us | P.I.M.E. | | RssNewsletter | Mobile






mediazioni e arbitrati, risoluzione alternativa delle controversie e servizi di mediazione e arbitrato
e-mail this to a friend printable version


» 02/23/2009
CHINA - UNITED STATES
China and U.S. breathe sigh of relief: economy more important than human rights
by Wang Zhicheng
For Mrs. Clinton, human rights will no longer be the main issue. In exchange, Beijing has decided to continue buying U.S. Treasury bonds, in order to support the American economy.

Beijing (AsiaNews) - China's official media have defined the visit of Hillary Clinton as "a relief," because the new U.S. secretary of state has set aside the question of human rights, and talked instead about the economies of the two countries.

China Daily commented that "if the point of Hillary Rodham Clinton's maiden voyage overseas in her new role as United States secretary of state was to assure and reassure, she made it."

At a press conference in the capital, Clinton clearly explained that human rights in China must not be a distraction from the more vital questions of trade and the environment, and expressed hopes for closer collaboration between the two powers in confronting the economic crisis.

Just a few years ago, Clinton unleashed a harsh attack against Beijing, which had censored part of one of her books published in China, where it talked about women's rights.

Yu Wanli, an associate professor at the Centre for International and Strategic Studies at Peking University, said that after this visit issues like human rights and Tibet will be pushed to the sidelines, in order to "work on something meaningful now." The American decision brings a "sigh of relief" for Beijing, since there are significant anniversaries this year that could lead to social tensions: the 50th anniversary of the revolts in Tibet, and the 20th anniversary of the massacre in Tiananmen Square.

Clinton also breathed a "sigh of relief," because China has considered the economy more important than the (past) criticisms about human rights: to the request that Beijing continue to buy and accumulate American Treasury bonds, the Chinese said yes. More precisely, Chinese foreign minister Yang Jiechi said that China wants its foreign currency reserves - at 1.95 trillion dollars, the largest in the world - to be invested safely, at good value and liquidity. But he added that China wants to continue to work with the United States. Similar assurances have been given by President Hu Jintao.

Clinton said that China and the United States find themselves "in the same boat," and are "rowing in the same direction." Beijing holds about 700 billion dollars in U.S. Treasury bonds. But the leadership is under pressure to diversify its holdings, because of the depreciation of the dollar. The economic crisis afflicting the United States risks reducing to nothing the value of its bonds.

According to the analyst Wang Xiangwei, however, Beijing has no alternative but to support the U.S. economy and invest in U.S. Treasury bonds, precisely as the Obama administration is seeking new funds to pay for the 787 billion dollar economic stimulus package. Wang Xiangwei (c.f. today's edition of the South China Morning Post) says that there seems to be some minor blackmail on the part of the United States: if China does not buy Treasury bonds, information will be published in the United States about the money that the leadership and their relatives have deposited in banks there.


e-mail this to a friend printable version

See also
02/20/2009 TIBET - CHINA - UNITED STATES
Tibetans ask Clinton for pressure on Beijing to prevent massacre
01/03/2009 ASIA - CHINA - U.S.
Chinese yuan set to replace dollar
by Maurizio d'Orlando
01/08/2009 CHINA
Pro-democracy activist Wang Rongqing sentenced to six years for "subversion"
02/21/2009 CHINA - UNITED STATES
Charter 08 activists arrested, silenced ahead of Hillary Clinton's arrival in Beijing
06/04/2008 INDIA - TIBET - CHINA
Tibetan exiles commemorate Tiananmen Square massacre
by Nirmala Carvalho

Editor's choices
ISLAM - MIDDLE EAST
Al Azhar and Vatican against terrorism. The ambiguity of the international community
by Bernardo CervelleraThe influential Sunni university denounces " heinous" violence of the Islamic state and demands the world defeat this group “through every possible means". Vatican: terrorism is a threat to all humanity. France claims to fight terrorism, but then sells weapons, aircraft, helicopter gunships to Saudi Arabia, which supports Islamic fundamentalism. Kuwait tolerates Salafis who support the Nusra Front and the Islamic state. Turkey against the Kurds; the United States against Iran, Russia and China.
TUNISIA - ISLAM
Tunis, stop terrorism by closing fundamentalist mosquesPresident Essebsi believes unified and global strategy needed to counter terrorism. The attack in Sousse almost simultaneous with those in France, Kuwait, Somalia. Islamic State claims responsibility.
VATICAN – ITALY
Pope in Turin tells young people to be chaste in love, go against the flow and not retire at 20In his last meeting on the first day of his visit to Turin, Francis met young people in Vittorio Square. In a Question and Answer exchange, he talked about love, friendship and loss of trust towards life. "I understand you. How many hypocrites speak of peace and sell weapons. How can one trust? By following Christ, whose act of extreme love, i.e. the Cross, saved humanity." The pontiff also looked at the horrors of the 20th century as evidence of the loss of trust towards world powers. He urged young people “not to retire at 20,” but “live, don’t just exist.”

Dossier

Copyright © 2003 AsiaNews C.F. 00889190153 All rights reserved. Content on this site is made available for personal, non-commercial use only. You may not reproduce, republish, sell or otherwise distribute the content or any modified or altered versions of it without the express written permission of the editor. Photos on AsiaNews.it are largely taken from the internet and thus considered to be in the public domain. Anyone contrary to their publication need only contact the editorial office which will immediately proceed to remove the photos.