China is "losing abundant cheap labor," its "biggest advantage as a manufacturing export base," because of increasing wages and currency movements, said an analysis in the Financial Times on June 9.
In a global economy unsettled by the patchiness of the US recovery and European financial turmoil, China would appear to be the one place in the world no one needs to worry about.
China has emerged as one of the biggest economic beneficiaries of the war, snagging five lucrative deals.
Some foreign diplomats have complained about China's arrogant foreign policy recently, but Fareed Zakaria, columnist at the Washington Post, said he was "struck less by arrogance than by the doubt, uncertainty and apprehension that seemed to be plaguing the Chinese."
Chinese workers' increasing salaries will "ripple through the global economy, driving up the prices of goods ranging from T-shirts to computer servers," said an article in the New York Times on June 7.
The global economy looks likely to avoid a relapse into recession, although the next six months may be anemic, with three main causes for concern.
More and more Chinese students want to go to top American universities, and being accepted by Harvard is becoming a class act, said an article in the Los Angeles Times on June 4.
China ousts Russia as America's new enemy,reflected by a new remade movie Red Dawn.
Barely touched by the recession, millions of Chinese are spending with abandon on luxury, said an article in New Zealand's Dominion Post on May 31.
In the land of rice, China is looking at the potato for maintaining growth and social harmony, said an article in the Washington Post on May 31.
Bill Clinton famously won the US presidential election in 1992 with the motto "It's the economy, stupid." But when it comes to the future of the euro, "It's the politics, stupid!" is the more appropriate slogan.
Unlike its counterparts in many free-market democracies in the world, Chinese government is popular among its people, Ian Bremmer, president of Eurasia Group, said in USA Today on May 26.
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