[OPE] Beijing People's Daily comments on American "blame game"

If we compare the U.S. economy to a car, emerging markets have somehow served as windshields amid the battering of the financial storm. Can we blame the windshields for the failure of a car? Imbalances in global trade and investment did have a role in the crisis but were not at the root of the problem. Loose supervision that helped pump excessive dollars into circulation was the root cause. When a morally upright person is mired in difficulties, he or she will engage in introspection rather than shift responsibility. China has moved to cope with the problem with a stream of measures and so have other large world economies. It is not time to play a blame game. Regulators in the United States might not want to miss the chance that they failed to seize before the crisis, when property companies, investment banks and insurance companies juggled various financial products and Wall Street "elites" snatched tens of millions out of the bubble. http://english.people.com.cn/90001/90778/90858/90864/6569743.html

sometimes you're the windshield
sometimes you're the bug
sometimes it all comes together baby
sometimes you're a fool in love
sometimes you're the louisville slugger
sometimes you're the ball
sometimes it all comes together baby
sometimes you're going to lose it all

- Dire Straits, "The Bug"

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Received on Fri Jan 30 17:39:54 2009