The global financial crisis has so far failed to yield a second Bretton Woods agreement, as some had hoped, but recent calls for a new global reserve currency are beginning to excite the minds of politicians, financiers and scholars alike. Taking inspiration from the ‘bancor’ currency proposed by John Maynard Keynes in 1944, the governor of the People’s Bank of China suggested last month that the global monetary system would benefit from revamping the role of the International Monetary Fund’s special drawing rights (SDRs) to create a uniform global reserve currency.
It is the very nature of ‘otherness’ in the experience of Chinese contact with Africa – the fact that it stands outside the pattern of international relations and historical memory – which forms of one of the key features of this relationship to this day. This notion of ‘difference’ allows us to see in these relations on the periphery, something deeply significant about the broader shape of international relations in the contemporary period
In the west, China’s rise and increased attention to fundamentalist Islam have caused many to perceive a global contest in the export of values. At this particular crossroads of history there seem to be several very different maps for the future. In this context, many speak of the ‘decline of the west’, but what is it exactly?
Critics have deplored President Bush’s announcement over the weekend of his intent to attend the Beijing Olympics because of China’s poor human rights record and unfulfilled promises to the International Olympic Committee to liberalize before the Games. This is a wrong-headed view. The President should attend the opening ceremonies in August, and have a great time rooting for American athletes.
In October 1949, the People’s Republic of China (PRC) replaced the Republic of China (ROC) after the Chinese Communists won a nationwide victory in the civil war and drove the Nationalist government to Taiwan. A Communist China, comprising a quarter of the world’s population, had inevitably extended the Cold War to East Asia. The PRC’s foreign policy during the Cold War went through several distinctive stages.
Despite the common claim that China can’t be moved by international pressure from human rights or advocacy groups, the campaign to link genocide in Darfur to Beijing’s hosting of the 2008 Summer Olympic Games has thoroughly belied this notion. It is a campaign which must not give way to political expediency.
If questions about Sino-African relations could be reduced to their essence, these could be summarized as three main points. Firstly, China is not a unitary actor. Second, there is a degree of scapegoating of China and its alleged negative impacts upon Africa. Third, ultimately, it is up to African leaders to manage their relations with China to benefit their own economies and citizens.
There has been considerable agitation among the many critics of the Myanmar military that China has been less than insistent on Burmese reforms as it continues to provide funding and support to the military junta. Whatever pressures China has brought on Myanmar -and they may have been considerable- have been relatively quiet and discreet in contrast to the U.S. and EU public demands for change. Yet reform in Burma is in the long-term interests of the Chinese Government.
