 Letters and Blogs
(China Daily)
Updated: 2009-04-03 07:42 Who will punish the banks? Comment on the article "G20 protestors break into Royal Bank of Scotland" (China Daily website, April 1, 2009) This was not a bank-robbery: it was an attack on the institution that poses a severe threat to the livelihoods of millions of people. If people threaten banks, police can beat them. But if the banks threaten the people, who will beat them? Some would say that anarchy is the ultimate expression of democracy. These events show us who are really in control: the police, the people, or the banks? Andrew on China Daily website Real energy saving needed not just gimmicks Comment on the article "'Dark' Earth Hour sheds light on climate change" (China Daily website, March 29, 2009) Maybe Earth Hour is just all hype, because I think turning off lights for one hour won't have any effect. And the initiative has only been supported by some people, not the whole country. For example in Xi'an, I found no support for Earth Hour: the streetlights were still on, and some were not turned off until dawn. I got up in the middle of the night. Through the window, I still found the city alight. I asked friends whether they knew what Earth Hour was. But they all shook their heads. In my opinion, saving energy should start with everybody paying more attention to our future. Ivy Xing on China Daily website Beware protectionism in time of crisis Last Friday, the Australian government blocked the purchase of OZ Minerals by China Minmetals Corporation. The reason given was national security: the core asset of OZ Minerals is located near a sensitive military facility. The refusal arouses concern about protectionism, especially when a series of other acquisitions of Australian natural resource firms by Chinese State-owned companies are under way. The situation is not confined to Australia. The American Congress passed a "buy American" clause in its record stimulus package, and experts predict further import restrictions may be adopted to guarantee the economic rescue package creates jobs on US soil. Furthermore, as the second round of the financial crisis surfaces in Eastern Europe, rising protectionism in the European continent is very likely. Statistics by the World Bank show that 17 out of the 20 biggest economies in the world have imposed some kind of protectionist policies since the Washington G20 summit last November, despite world leaders' acknowledgment then of "the critical importance of rejecting protectionism". Protectionism has been wielded erratically in hard times in economic history. It tells us that protectionism exacerbates crises and hampers recoveries in the long run. Nowadays, the negative influence of protectionism will be more catastrophic and spread more quickly because of the highly interwoven world economic structure. The economy of most developing countries, especially the least-developed, will be more seriously battered by protectionist policies, considering their high dependence on overseas market, foreign capital, international technology transfers, as well as labor exports. This week the second G20 summit is being held in London amid a gloomy world economy. Opinions, policies and stances vary among all parties. I hope world leaders bear in mind not only their home markets and home employment rates, but also the people in poor countries, the global market as a whole. Agreements or commitments made at the meeting should be followed by concerted actions. Tony Cai Via email 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 04/03/2009 page9) |
