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Viewing cable 09BEIJING178, MEDIA REACTION: INAUGURATION, U.S. - CHINA RELATIONS,

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Reference ID Created Released Classification Origin
09BEIJING178 2009-01-21 09:53 2011-08-23 00:00 UNCLASSIFIED Embassy Beijing
VZCZCXRO1214
RR RUEHCN RUEHGH RUEHVC
DE RUEHBJ #0178 0210953
ZNR UUUUU ZZH
R 210953Z JAN 09
FM AMEMBASSY BEIJING
TO RUEHC/SECSTATE WASHDC 1955
INFO RUEHOO/CHINA POSTS COLLECTIVE
RHMFIUU/CDR USPACOM HONOLULU HI
UNCLAS BEIJING 000178 
 
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: INAUGURATION, U.S. - CHINA RELATIONS, 
FINANCIAL CRISIS 
 
-------------------- 
  Editorial Quotes 
-------------------- 
 
1. INAUGURATION 
 
"People expect the U.S. will walk a new path" 
 
The official Xinhua Daily Telegraph (Xinhua Meiri Dianxun) (01/21): 
"A British paper had an article titled 'Great Expectations' 
concerning Obama's inauguration. The same title is also translated 
to 'bright future' in Chinese for Charles Dickson's novel. However, 
between great expectations and a bright future, there is still 
distance. Obama is expected to fulfill his promises. Even before 
Obama was inaugurated, he has been intensely devoted to many 
different tasks. It is not an easy task for Obama. Global 
expectations and bright futures can be attained if the U.S. walks a 
new path. Obama needs to focus not just on the U.S., but on the 
world." 
 
2. U.S.-CHINA RELATIONS 
 
"How will Obama understand U.S.-China Relations?" 
 
The Beijing-based newspaper sponsored by official intellectual 
publication Guangming Daily and Guangdong Provincial official 
publication Nanfang Daily The Beijing News (Xin Jing Bao)(01/21): 
"Obama's Inauguration has brought great attention to the future of 
U.S. - China relations. The relationship is facing a new beginning. 
The strategic need for economic interests and the war on terror, 
faced by the two countries, are not as urgent as when both countries 
faced the common threat from the Soviet Union. Thus the possible 
failure to find a new consolidated foundation based on the common 
interests of these two countries will only bring uncertainties to 
the relationship. A new U.S.-China cooperative foundation has become 
a reality; the intensified disorder of the world. The U.S.' freedom 
has been weakened and restricted. This power loss forced the U.S. to 
choose to withdraw from certain places, which will only cause new 
problems. Because of the U.S.' 'power losses', withdrawal, and 
relative decline, there will be inevitable global geopolitical 
unrest that China will need to help prevent. The U.S. and China will 
have a larger space to cooperate in providing public interest 
services [such as, regional peace and development activities] to the 
entire world. This competitive cooperation will help maintain a good 
relationship between the two countries and other geopolitical powers 
and help stabilize the global political and economic order." 
 
3. FINANCIAL CRISIS 
 
a. "China has the confidence to recover the earliest" 
 
The official Communist Party People's Daily (Renmin Ribao)(01/21): 
"The world has been interested in predicting China's economic 
development trends. Although there have been some positive 
predictions, recently the comments have been pessimistic, suggesting 
that China will encounter setbacks due to the financial crisis and 
the post Olympic influence. Western countries have become used to 
China's economic growth. Thus the slowdown of the growth will make 
them panic. A person with ulterior goals has also intended to create 
chaos by cracking down on China. In fact, the Chinese economy has 
four characteristics that will help it encounter a slighter impact 
from the financial crisis. First, China is a developing country on a 
general upturn; second, China has accumulated great economic 
strength; third, China has a broad market and excess talent; and 
fourth, China is working with a combined market economy and macro 
governmental control. The Chinese government's economic stimulus 
plan has reassured the confidence of the Chinese companies and the 
people, bringing hope for the recovery of the global economy. China 
is confident that it will fulfill its objectives and recover from 
the financial crisis the earliest." 
 
b. "Purchasing American Debts is the best choice" 
 
The official Communist Party international news publication Global 
Times (Huanqiu Shibao)(01/21): "Among several choices for the use of 
China's financial reserves, apparently, purchasing American debt is 
the safest choice. The benefits are guaranteed. Chinese capital, 
once given to the U.S. through official American debts is still 
China's money, not the U.S. government's. At present, the U.S. 
dollar is still a major global curacy and the currency with the most 
credibility. No country's currency could replace the U.S. dollar. It 
is not a bad thing to let the most powerful global country own us 
money. Surely, the large up-and-downs in the U.S. currency are not 
good for China or the world. They are based on the current 
international financial system. Under such system, China must make 
the most practical decision." 
 
PICCUTA