The International Herald Leader put forth an argument that China should work toward breaking the tradition that the U.S. holds the Presidency at the World Bank. “The developed countries’ actual share of and influence over the world economy is decreasing. The share of the new economies represented by the BRIC countries is rapidly increasing.” The decision on the Presidency needs to reflect the new world order. Also, letting the U.S., which has only 16% of the World Bank’s voting power, control the president’s position is unfair to other countries that have 84% of  the voting power. “There should be a ‘new game’ for the new candidate. U.S. internal politics should not be the determining factor; it should be determined by the major country members of the international finance system and the economic system.”

According to the article, China does not expect to see a game change this time, but it should openly express its dissatisfaction and consolidate support from other countries. “On the decision of Managing Director of the International Monetary Fund, France’s Lagarde paid a visit to China and to other new economies before she was appointed and also addressed China’s interest in the IMF’s quota and voting share reform. China can duplicate this success at the World Bank.”

Source: Xinhua, February 24, 2012
http://news.xinhuanet.com/herald/2012-02/24/c_131427183.htm

Xinhua recently published a report commenting on cuts in the U.S. defense budget. According to the new budget plan, the defense budget for next year will be reduced by $32 billion. A total of $487 billion will be cut over the next decade. The report expressed the belief that the factors leading to the reduction were the current unstable U.S. economic situation and the political atmosphere of a presidential election year. However, the article pointed out that the budget reduction also reflected some strategic improvements that the U.S. military has made. One is strengthened mobility and delivery capabilities, which make deploying military forces to the front-line much easier and faster. Hence there is no need to keep a large amount of manpower deployed in remote areas. Another improvement is in the technology area where unmanned and space-based attack capabilities are becoming game changers. The report concluded that the budget cuts demonstrated that it will be easier and cheaper for the U.S. to start future wars. The lowered U.S. defense budget may mean more trouble for the world.

Source: Global Times, February 25, 2012
http://mil.huanqiu.com/Observation/2012-02/2470054_2.html