From US economic model to “Asian values” model?

China flexed its economic muscle this week at the BOAO Forum for Asia, calling on global monetary diversification and pumping $10 billion into a China-ASEAN infrastructure investment fund. Some Chinese officials claim the economy has “touched bottom” and predict growth to reach 7 percent this quarter (Zheng Xinli), but in an opening speech Premier Wen Jiabao explained that China alone won’t save the world economy. Foreign media has questioned the accuracy of statistics like recent 6.1 percent growth, to which the National Bureau of Statistics has promised “true and credible” future figures. Stats aside, it appears China does plan to influence Asian countries to do things with ‘Asian values’. Just two weeks after China voiced concerns about the current global economic order at the G20 and made calls for a new international reserve currency, state media writes “many countries pin hopes on the recovery of the world’s third largest economy.” It remains to be seen just what this recovery will look like.

China announces $10 billion Asian infrastructure investment, Voice of America

China alone unable to save world: official China Daily

Leaders to seek “Asian value” to tackle financial crisis at BOAO Forum for Asia, Xinhua

China says to improve economic statistics, China Daily