Financial crisis: World round-up

Chinese press split on the possibilities for the country following crisis

Press comment in developing countries focuses on the impact of the global financial crisis, and a possible shift in the international balance of power.

Chinese commentators react to the country's slowest growth for five years with cautious optimism about its longer term prospects. But some editorials highlight the widespread closure of toy manufacturers as an indicator of domestic economic problems. Much comment dwells on the international possibilities for China given America's perceived weakening.

In developing countries, editorials voice concern that expensive bank bailouts will mean cuts in rich nations' aid budgets. Some commentators blame Western countries for the crisis and seek greater involvement from developing countries in finding a solution.

CHINA'S CAIJING MAGAZINE

The pace of growth of world economies, including China's, will slow down, but China will still be one of the world's fastest growing economies. Subsequently, China's position in the world economy will strengthen rapidly.

CHINA'S GUANGZHOU RIBAO

We must not underestimate the ability of the Americans to get out of the crisis, or wishfully place hopes for the prospects of our country on the complete defeat of the US.

CHINA'S WEN WEI PO

China seems [viewed by the West] to have become a god for saving capitalism... In reality, China is not strong enough to be 'America's saviour'. More worthy of concern is the recent bankruptcy of China's largest toy manufacturer.

CHINA'S CHINA DAILY

There are reports that in the first seven months of the year more than 3,600 toy makers have already gone out of business in China thanks to factors such as rising wages and material costs... How much these factory closures are really linked to things in the US... is actually quite vague.

INDIA'S HINDUSTAN TIMES

The financial crisis has clearly spilled over to the real world. It has slowed down the industrial sector, with the manufacturing segment having taken the worst beating.

NIGERIA'S VANGUARD

Nigerians want to know the bitter truth of this global financial crisis, as it affects them. If government does not know, it should also say so.

BURKINA FASO'S SIDWAYA QUOTIDIEN

Western governments have not hesitated to put together colossal sums of public funds (more than $2,000bn) to save a spiralling financial market... But have they got the time to spare for our miseries?

EGYPT'S AL-JUMHURIYAH

The issue of salvaging the poor in developing countries will cease to be one of the Western countries' priorities for a long time to come.

INDONESIA'S MEDIA INDONESIA

The current economic crisis could be likened to a tsunami which has devastated all arrogance about economic greatness, particularly the US economy.

ALGERIA'S LA TRIBUNE

We know that the 'mighty of this world are perfectly aware' that nothing can be resolved unless emerging and developing countries are involved.

PALESTINIAN AUTHORITY'S AL-HAYAT AL-JADIDAH

This (French President Nicholas Sarkozy's idea to hold an international conference on the financial crisis) will be an opportunity for us to leave the seats of the victims to sit in the seats of the decision-makers.

BBC Monitoring selects and translates news from radio, television, press, news agencies and the internet from 150 countries in more than 70 languages. It is based in Caversham, UK, and has several bureaux abroad.