 Outside View
(China Daily)
Updated: 2008-07-23 07:30 Adaptation is better than hysteria Veteran Belgian journalist Vandepitte refuted the fallacy of boycotting the 2008 Beijing Olympic Games in his lately-published article in the Belgium Morning Post and the Belgium Times. He urged Belgium, as well as other European countries in his article, to face up to an emerging China and engage in introspection rather than denigrate China over Tibet or human rights. Riots that broke out in Lhasa, Tibet autonomous region on March, 14 had been sentimentally distorted by the Western media before the news could be accessed by ordinary people. In fact, first-hand materials snapped by Economist's correspondent, who was not pro-China and the only Western media reporter there, showed both Han and Hui people being attacked by some Tibetan youth, but local police maintained great restraint over the riot. BBC also confirmed such information. The lies led to anti-China hysteria. On its surface it seems to be humanitarian concern by the Western media, deep inside it's a profound fear facing a surging China and the West's own decline. For a long time, relying on their economic power, developed countries got used to teaching the developing ones. Nowadays, such self-appointed superiority can no longer work, especially against China - considering the large size of its market. If we really want to continue that, at least weigh the odds first. The article urged Europe to adjust itself to accept the following three facts: First, China's economic boom is changing the world economic map in which Europe is no longer at the center. Second, the controlling force of Northern countries over Southern countries is weakening, and the former should adapt themselves to the change within the shortest time. Third, what China's great success has yielded in the past 30 years has nothing to do with Western developing models, and it's better to acknowledge it than to envy in vain. America braces itself for a second dip The US economy performed better than expected in the first half of the year but volatile markets suggest the rest of this year might bring a W-shaped downturn, The Financial Times reported. Almost a year on, those three troublemakers are still very much at work. Financial markets remain in turmoil. Growth this quarter is shaping up to be quite strong. But the risk of a relapse into very weak growth or even recession has increased. The core dynamic of the credit squeeze has intensified recently, reinforced by the shock from oil, the newspaper said, adding that the danger of high inflation becoming embedded in the US economy has also escalated. Depending on how economists classify the period of weakness at the start of this year, the year-end could mark the moment when the US finally falls into recession, the newspaper said. What s more, banks still do not know the ultimate extent of their losses on complex new credit securities. Readers' comments are welcome. Please send mail to Letters to the Editor, China Daily, 15 Huixin Dongjie, Chaoyang District, Beijing, 100029 China. Send faxes to (86-10) 6491-8377. Send e-mail to opinion@chinadaily.com.cn or letters@chinadaily.com.cn or to the individual columnists. China Daily reserves the right to edit all letters. Thank you. (China Daily 07/23/2008 page9) |
