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SUBJECT : “EU Pressures on China Won’t be Effective”: Blair   [ allforu62 ]   2010.10.13

Tony Blair, the former Prime Minister of UK, shed light on his perspectives on the rise of China and the recent currency debate during his live satellite presentation as a keynote speaker during the World Knowledge Forum on October 13th.

“The G2, consisting of America and China, will be replacing the traditional relationship between the US and EU,” he said, in recognition of the rising power of China.

When Zakaria, the moderator and journalist of the Times, asked about a concerted European response regarding China’s currency appreciation, Blair showed some hesitation.

“It’s actually in our interest for China to maintain its economic stability” he said, while highlighting that “there is a way of doing this cooperatively.” He also issued a warning, by saying that “using a battering ram against China” won’t be effective.

Blair also showed sympathy on China’s reluctance to bend to pressures on its currency policies. The Chinese politicians feel a strong obligation to lift their people out of poverty through continued growth, which is serving as a very real obstacle to changing their currency policies, he said.

When asked about his views on the disproportionate voting shares of Asian countries in relation to GDP and the disparity with the dialect on accommodating the rise of Asia, he said that change was in progress , and will happen “at some point,” “in the end.” However, he hinted that it won’t come too readily from the European powers.

In regards to increased representation in the United Nations Security Council, he advocated the need for an “expansion of the security council and making some formal mechanism to allow greater number of permanent members,” saying that it is important to adequately reflect the realities of the world, in view of the recent rapid changes, lest it become irrelevant.

[Written by Byung-ho Kim - Samji Chung, edited by Soyoung Chung]

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