The World

China has been fairly restrained about criticizing the culprits of the global financial crisis. This professor says China’s position says it has avoided finger pointing or lechery. Some Chinese however have been pointing fingers, including this deputy CEO of a major Chinese bank who urged the IMF to increase its monitoring of developing nations that have weak financial policy discipline which he says is at the root of the problem. While countries like the U.S. and Britain are partially nationalizing banks, China has been moving in the opposite direction. Some Chinese bloggers have also been self-congratulatory. But this independent economist says the Chinese should not revel in the U.S.’s economic problems and that China should reconsider its economic model. He also dismisses those few Chinese who are using this crisis to justify their calls for market reforms. China’s banks have had their own crises in the past decade. Since then, many of China’s banks have become more transparent and market driven.

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