China media: Influence in Brics

http://www.bbc.co.uk/news/world-asia-china-28322832

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Media discuss China's influence among Brics nations after Shanghai was chosen as the home of a new development bank.

The Brics group, involving Brazil, Russia, India, China and South Africa, on Tuesday announced the creation a new $100bn (£58.3bn) development bank and emergency reserve fund.

The bank will have its headquarters in Shanghai and the first president for the bank will come from India. The capital for the bank will be split equally among the five participating countries.

Xu Yili, a commentator with China Central Television, says China's "massive" foreign reserves and its stable political atmosphere went in favour of Shanghai.

The Global Times' Chinese edition notes that some Western media outlets have reacted negatively to the creation of the bank.

Describing such comments as "sour grapes", the paper points out that the Brics were "forced" to set up the bank.

"This is a financial institution led by the Brics and developing countries, and the West has no say in it. It symbolises the rise of emerging countries in the 21st Century. The bank will help in constructing a fairer international political and economic order," it says.

Echoing similar sentiments, an article in Haiwai Net notes that the Brics nations have not been included in the US-led Trans-Pacific Partnership and the Transatlantic Trade and Investment Partnership talks.

At least 12 countries throughout the Asia-Pacific region are currently discussing the Trans-Pacific Partnership free trade agreement.

"In order to maintain their own advantage, the West are keeping the Brics countries out of the negotiation process to lay out new rules in the world economy," it says, urging the West to embrace the rise of the Brics.

"They should see that the development of the Brics is not threatening the economic leadership of Western countries. The West should not view the rise of Brics as a zero-sum game, but should see it as a co-operative bloc committed to promoting peace and prosperity in the world," it adds.

Experts tell the Tencent Finance website that China's leadership role in the new development bank shows that Beijing hopes to "shoulder more responsibility in world affairs".

Meanwhile, some media outlets report that India and China "fought over" the the location of the headquarters of the bank.

The 21st Century Business Herald notes that "India, which had been maintaining a low-profile position, suddenly departed from its normal behaviour" on Tuesday.

'Good journalists needed'

And finally, some media outlets say "more good journalists are needed" as the detention of a popular TV host continues to spark heated debate.

Popular host Rui Chenggang failed to appear for his daily business programme on Friday, and state media later reported that he had been detained along with a senior CCTV executive.

The China Daily notes that official media coverage of his arrest has been limited, but "social and new media are full of reports" over the incident.

Describing Mr Rui as "a symbol of China's new elite generation", it says that "more good journalists" like him are needed to "tell the country's true story to the outside world".

"But people need to distinguish his misdeeds, if confirmed, from his professional career. Even if Mr Rui is really under investigation, it must be for possible wrongdoings rather than his journalistic work," it says.

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