Official Chinese media - People's Daily and Xinhua News Agency criticized that US is "irresponsible" over the debt crisis - and media perceptions differ - some sees the frustrated view from China, and the others find out the long-term chances for China to demonstrate its potential economic leadership to the world -
The official media of Chinese Communist Party has castigated the United States' handling of its debt crisis as "irresponsible" and "immoral," saying in a Saturday editorial that the U.S. democratic system was to blame for the "farce."
The official People's Daily newspaper accused U.S. politicians of "sacrificing other people's interests in exchange for a few votes," adding that "not a single representative has considered the world, and even U.S. national interests are being banished from the mind."
It said elections next year meant that each representative was unwilling to risk being tarnished with "the crime of giving way."
"The voting system has restricted the White House's power to act," it said. "The farce taking place on the U.S. political stage has let the whole world know where the United States' political problems are."
U.S. lawmakers have just four days to reach a compromise to avert a national debt default, but a Republican deficit-cutting plan was rejected by the Democratic-controlled Senate on Friday.
Its commentary follows similar criticism of U.S. politicians over the debt crisis by the state-run Xinhua news agency on Thursday.
On Thursday, China's frustration was evident in a pair of articles published by the state-run Xinhua news agency. In some of the strongest language from China's government on the issue so far, one Xinhua article castigated U.S. leaders for putting the world economy in jeopardy and called on them to show "some sense of global responsibility."
The other Xinhua article, however, acknowledged China's dependence on the U.S. "What can't be helped is that U.S. Treasury bonds are still the safest, most stable, least risky bonds, and the U.S. debt market is the only market that can absorb China's rapidly growing foreign exchange reserves," the second Xinhua article said.
Among the voices of worries, an article from World Politics Review distinguishes itself out by an interesting point - China may become the winner of the US debt impasse. It says that - the US behavior convinces the public that it is not the market feels reluctant to give out money to US, but it is the domestic politcs that doesn't allow doing so. Politically, China's benefits from the impasse outweights the loss.
More significantly, US is perceived as the top economic entity, which is supposed to lead the world, but in such crisis, US is irresponsible - this makes China to remind the world - we are victims, and our behaviors are responsible, meanwhile it is the chance for China to introduce to the world that it is the better option for world's economic leader. In the long run, this is the price that US has to pay.
