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Beijing Daily: The U.S. Sees the Downfall of Its Empire

Beijing Daily published a commentary on the downgrade of the US credit rating and suggested the measures that China should take. The commentary stated, “The downgrade of the U.S. credit rating from AAA is a historic and symbolic event. It should be viewed as a major turning point in the decline of the country’s national development. The decline of the U.S., already a global consensus, necessarily means great changes and strenuous adjustments in the world order. The East Wind prevails over the West Wind. The center of gravity of world power is shifting to emerging countries. The world’s political and economic structure will end the era in which the West makes the call. This is determined by the reality and trend of the global development of productivity. Facing this major adjustment and change, China needs to have a clear understanding and a conscious response.” 

The commentary noted that the downgrade of the U.S. credit rating sends a strong signal of alarm to China. “All along, China has been on high alert for political pressure, ideological infiltration, and even military intervention coming from the U.S., but we underestimated and were inadequate in coping with the flaws and risks of U.S. democracy and economic policies. During the U.S. debt ceiling crisis, China, as its largest creditor, could only watch the manipulations in U.S. domestic politics and bear the bitter fruit of the risks emanating from the U.S. economy. … The facts have taught us that there was nothing to the so-called “Chinamerica” or “G2” but each country’s self-interest.” 
The commentary also suggests that “against the backdrop of the great adjustment of the world order, China should be proactive and do great things. In a complex international environment and intense international competition, it is useless to worship the U.S. dollar, worship gold, or worship the West. … For China to maintain a good situation for its long-term development and to better take responsibility for world peace and development, the primary task is to do our own things well. In this way, we will not fear any risks or be perplexed by any interference, but will firmly and proactively drive future development.”

Source: Beijing Daily, August 12, 2011