28 March, 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
IRAN
Time for a deal with Tehran, a reliable partner against the Islamic State group
by Bernardo Cervellera A framework agreement on the Iranian nuclear issue has to be inked by 31 March. US Republicans, Israel and Saudi Arabia are fiercely opposed to it for ulterior motives. Hassan Rouhani wants Iran to come back into the international fold. Tehran is playing a mediating role in the Middle East. For Vatican nuncio, “there is no evidence that Iran is preparing a nuclear bomb.”
CHINA - VATICAN
BREAKING NEWS: Chinese police seize two priests in Mutanjiang
by Bernardo Cervellera
CHINA-VATICAN
Nothing to toast between China and the Vatican: Beijing wants complete control
by Bernardo CervelleraFor the Global Times (the People's Daily) China does not like the "Vietnamese model" of agreed episcopal ordinations. The Chinese Foreign Ministry’s embarrassment in front of the Holy See’s countless efforts. China wants the Vatican to accept all excommunicated bishops and to keep silent on those who are underground and imprisoned. The case of Msgr. Cosma Shi Enxiang. Without religious freedom, diplomatic relations are pointless. The work of mission and the unity of Catholics in China. A task for Xi Jinping: implement the anti-corruption campaign in the Ministry of Religious Affairs and the Patriotic Association, which have grown rich over the decades on the backs of Christians.

Dossier

by Giulio Aleni / (a cura di) Gianni Criveller
pp. 176
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.