Quotable

"Dysfunction of the current world financial system is so deep that the classic recipes do not work. The West cannot conduct strategies to resolve the economic crisis without the Chinese."

Michel Rocard, former French prime minister, saying that the West expects China, under its new leadership, to play a greater world role as Beijing's involvement is essential in resolving the economic downturn and creating new order in the global financial system.

(China Daily 03/15/2013 page14)