Most of the international
cable news referred only to my criticisms of Biden’s statements in Viña del Mar contained in my
Reflection aired by CubaDebate and published by our press on Monday 30 under
the title: “China, the future great
economic power”.Only EFE included a few
lines at the end of its news report that referred to the main topic covered by
the article.To recognize the increasing
role played by China in the world’s
economy is like a rough patch for the West.
However, the big media
continues to speak about China’s booming
economic power.Yesterday, March 29, the
news agency DPA reported that China had taken the U.S. by surprise when
it submitted its bold proposal of replacing the dollar as the main
international currency with a new “super-currency”.Furthermore it stated that China is
struggling against the US dominance in the world’s financial system; it echoes
the opinion of China’s Central Bank which believes that the crisis and its
impact on the whole world is a reflection of the internal fragility and of the
risks inherent to the international monetary system that its country intends to
change with the creation of the new reserve currency.To further support its thesis it claims that
the famous British economist John Maynard Keynes had already proposed the
creation of a global currency in the 1940’s.
It also points out in the
same news service that China looks forward to
the position of Director of the IMF, an agency that has been so far controlled
by the United States and that,
according to the G-20 predictions, should take care of the national financial
The report states that China, being the
biggest among the emerging countries, demands more influence for poor states
which have been particularly affected by the crisis.
It reiterates in its argument
the well known fact that China, with a total
amount of 740 billion dollars in U.S. Treasury bonds, is the main US creditor.
We should not forget that Germany, the DPA news
agency headquarters, is worried about the ruinous role that the US economic policy
is playing in Europe.Germany is currently the
country that exports the biggest share of its GDP.The economic crisis affects it more than any
The world public opinion has
the duty and the right to know more about the economic problems deriving from a
crisis that is affecting today all peoples of the world.