C. Fred Bergsten,director of the Peterson Insititute for International Economics, was assistant Treasury secretary for international affairs from 1977 to 1981 and assistant for international economic affairs to the National Security Council from 1969 to 1971 published an excellent article in the Washington Post,Nov.12, 2008 on page A19:
"China, which now accounts for more than one-third of all global growth, has demonstrated admirable leadership by announcing an expansion program of much greater magnitude. It is up to the United States and Europe in particular, to follow suit; an international commitment should help overcome internal opposition to such steps especially in the United States and Germany." Here is a clear evidence of China's role to help international community in the name of humanity.
Bergsten wrote further: "Japan has offered $200 billion, and China with reserves nearing $2 trillion, could provide at least as much. The lenders would receive an IMF guarantee on this money and should welcome this alternative to US Treasury securities." Here we can detect Sino-American Economics apropos of IMF with global dimension in the 21st century... Asians have the most dynamic enonomies with most of the money." Here is an endorsement of my prior blogs re lifestyle of Asians to be reflected in the economies in Asia with the current needs to help the nations in the world. History may regard this weekend as the beginning of a transition in global economic power as well as a milestone in resolving the crisis of 2008.
On page A18: An independent consultant in nuclear power wrote: "France's good example to build plants and reduce our dependence on oil and coal within 10 years. China is in the process of doing this. It is building several large nuclear power plants a year. This can and should be done in the United States." This is another event of the common ground of USA and China.
Francis Shieh a.k.a. Xie Shihao, an observer of economic happenings on earth to be solved by folks on earth under the leaders with wisdom.
Wednesday, November 12, 2008 at 10.28 a.m.
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