4-28-09, 9:07 am
Original source: The Global Times
China was suddenly catapulted by certain Western countries into the center of the world stage, as the deepening economic crisis spread from the US to Europe. Recent days have witnessed an increasingly urgent appeal for China to salvage the declining international economy. But excessively pressuring China to tackle the global turmoil is impractical. China does not serve as a 'savior,' and won't recklessly plunge into the maelstrom because of flattery lavished by Western countries.
The intention of Europe and the US to engage China in negotiations on the financial crisis is primarily aimed at demanding China's contribution and undertaking of responsibilities in international affairs. The push to give China increasing obligations comes from the 'China Responsibility Theory' which holds that China's benefits from economic globalization automatically result in a corresponding responsibility for the downturns.
A thorough analysis proves this argument groundless. The financial recession was triggered by speculation practiced by Western countries, the consequences of which China has fallen victim to.
Advanced nations won't hand over leadership to China to shape the international landscape. It is impossible for Chinese to assume the presidencies of the World Bank and the International Monetary Fund, two vital positions which determine the world economic hierarchy and which have long been chaired by Westerners.
Essentially, both Europe and the US seek to use China for their own benefits. Europeans criticize the US for its dictatorial dominance in the financial sector and its responsibility in the current financial catastrophe. The recent feverish performances staged by European leaders, Britan and France in particular, reflect their desire to grab control in the global arena dominated by the US. Europe's high-profile appeal for China's participation, which included both the intimidation of force and the lure of profits, aims to integrate China into a Europe-centric regime.
China must seek a sound strategy for the extent of its participation and devise a plan accordingly. If China has to become involved in establishing a new international system, it should take into account the interests of developing countries instead of the Western powers, as the present financial and economic downturn originally stems from the predatory practices implemented by these powers.
It is those emerging economies rather than a handful of developed countries that were most negatively impacted by this crisis. While advanced powers are plagued by financial decline, economic slowdown and a jeopardized social welfare system, emerging nations are fighting for survival.
China should prioritize negotiating with emerging economies on restructuring the global economic system and formulating international political and economic regulations. This would conform to the moral principles upheld by other nations. The world can't be dominated by hegemonic powers forever, and strengthened solidarity with weak and underdeveloped nations will ensure widespread support in the world.
On the other hand, emerging economies, not advanced ones, will catalyze China's economic development in the future. Natural resources, crucial for China's sustainable growth, are primarily concentrated in developing countries, and the expansion of markets in these regions could mitigate the trade and economic risks brought by excessive dependence on markets in advanced nations.
China, as a rising nation, should contribute to reshaping the international structure by strengthening supervision over taxation exemption practices and promoting rights for rising nations to protect their farm products to benefit emerging economies.
--The author is a Beijing-based scholar. This article was translated by Liu Dong
