VZCZCXRO7989
RR RUEHCN RUEHGH RUEHVC
DE RUEHBJ #4350 3310911
ZNR UUUUU ZZH
R 260911Z NOV 08 ZDK
FM AMEMBASSY BEIJING
TO RUEHC/SECSTATE WASHDC 1097
INFO RUEHOO/CHINA POSTS COLLECTIVE
RHMFIUU/CDR USPACOM HONOLULU HI

UNCLAS BEIJING 004350 
 
DEPARTMENT FOR INR/R/MR, EAP/CM, EAP/PA, EAP/PD, C 
HQ PACOM FOR PUBLIC DIPLOMACY ADVISOR (J007) 
SIPDIS 
 
E.O. 12958:  N/A 
TAGS: OPRC KMDR CH
 
SUBJECT: MEDIA REACTION: FINANCIAL CRISIS, U.S.-CHINA RELATIONS 
 
-------------------- 
  Editorial Quotes 
-------------------- 
 
¶1. FINANCIAL CRISIS 
 
"Why does the U.S. save banks and discard cars?" 
 
The official Communist Party international news publication Global 
Times (Huanqiu Shibao)(11/26): "The U.S. Federal Government has 
agreed to rescue Citibank which is nearing bankruptcy. The nature of 
this move makes all the people in the country pay the bill for the 
bank's mistakes. A rescue plan for the three giant car companies in 
America was just suspended. The U.S. government saves banks and 
neglects cars. The U.S. is rebuilding confidence in the financial 
system and big American financial institutes. It wants to show the 
public that the government is willing and capable of protecting 
American tax-payers and the American economy. Citibank is one of the 
most commonly seen brands in the World. The U.S. can not afford to 
loose it. Second, Citibank is a strong U.S. financial brand. Third, 
the car industry's bankruptcy can not be solved over night, it is 
not as urgent as the bankruptcy of Citibank, it requires long term 
efforts. It's still unknown whether or not the U.S. government's 
funding can fill the deep hole left by Citibank. What can the U.S. 
government do if other companies imitate Citibank and ask for 
help?" 
 
¶2. U.S.-CHINA RELATIONS 
 
a. "How will Obama's team treat China?" 
 
The official Communist Party international news publication Global 
Times (Huanqiu Shibao)(11/26): "At the beginning of the Clinton and 
the Bush 43 presidencies, China had a difficult time; because of 
this history, China is wondering how the Obama presidency will 
regard the country. If Obama wants to be a great president who will 
conquer the financial crisis, he has to make use of China's 
strength. Many people optimistically predict that U.S.-China 
relations will have a smooth opening when Obama takes office. 
Chinese experts indicate that in 2000 the U.S. GDP was 10 times that 
of China and now it has decreased to 4 times. The capabilities of 
the U.S. in defining U.S.-China relations unilaterally have 
decreased. Chinese experts also indicate that Obama's economic team 
has adopted a rational attitude on the trade issue with China. 
U.S.-China economic and trade conflicts have continuously been 
triggered in the past several years. The trade imbalance is the 
'thorn in the heal' of the U.S. However, China should be more 
vigilant about their labor standards issues. Currently, the 
feasibility of the U.S. taking a tough attitude on China has been 
restricted. China can calmly deal with the new administration." 
 
b. "What factors will change the U.S. strategy on China?" 
 
The official Communist Party international news publication Global 
Times (Huanqiu Shibao)(11/26): "The foreign and domestic environment 
will influence the U.S.-China strategy. First, the global 
environment influences strategies; second, the content of the 
bilateral relations between the U.S. and China; thirdly, the 
critical factor is the U.S. government's policy on China. The U.S.'s 
China strategy is a part of its global strategy. To look at the 
future of the U.S.-China relationship, one should also look at the 
U.S.'s definition of its role. First, on economics, the U.S. may 
form a 'two-country group' with China; however on politics, the U.S. 
expects to include China in the group conducted by the U.S.; second, 
the U.S. is always vigilant as to whether China will challenge it. 
...Strength, comparison, and future emergencies will be considered 
when predicting the future of U.S.-China relations. Some sensitive 
emergencies may influence the relations in an unexpected way, like 
the Taiwan issue." 
 
RANDT