China gloats as financial tsunami on Wall Street continues

On the 18th of September, the English newspaper, The Daily Mail published an article concerning the financial crisis in Wall Street, in the United States.
The author of the article mentions that China is using the financial crisis in the United States to show the world that we can not longer be dependent from just one big economic nation, that tries to rule everything, like the United States.
The former central bank Deputy Governor, Wu Xiaoling, said US regulators weren’t able to manage all the financial risks and China needs to learn from those mistakes in the United States to avoid such a crisis, or even bigger, in their own country.

I think that what the author mentions is right. We should not be so dependent from the United States like we are now. We also have a financial crisis in the US dependant countries. It would be better if we had a financial system that's not based on the US only. Diversification would be better, since no investor would invest all his money in one company, why should the big banks do it then? Look what happened in Belgium, the big crisis concerning Fortis and Dexia. The cause of that crisis is partial to blame on the financial crisis in the United States. Now the Belgian government had to give money to the two concerning banks to save them from bankrupt. Otherwise there would be a lot of people that lose their money.
So I think that it’s very important to have an diversification on the financial market, just like China claims.


Source: http://www.dailymail.co.uk/money/article-1057523/China-gloats-financial-tsunami-Wall-Street-continues.html