Financial crisis: World round-up

The world's press continues to express anxiety over how far the global financial crisis might spread. Some newspapers have likened the widening effects to those of an international "tsunami".

However, commentators in the developing world resist the view that what they see as the mistakes of Western economies must inevitably bring ruin on everyone. And a Beijing paper mulls China's possible role as rescuer.

Some papers report how the crisis is starting to affect ordinary people's lives. One paper says a third of Russians have changed their food habits, while an Azeri daily expects an army of unemployed to materialise shortly.

CHINA'S RENMIN RIBAO

It is foreseeable that the spreading effect and shockwaves of the US financial crisis may continue to intensify, and the decline of the world economy is an indisputable fact.

YI XIANRONG IN CHINA DAILY

As the international financial tsunami runs amok, many at home conclude that the country's economy is on a downturn. In my opinion, however, the foundation of the national economy has not changed and we can still expect sustained development in the future.

CHINA'S RENMIN WANG

As to whether the Chinese government will "rescue the West", besides verbal diplomatic statements, there still has not been much practical action. Although China is already one of the few economic powers in the world, many ordinary Chinese believe that domestic investment would have a better effect. China's foreign exchange reserves are the hard-earned money of ordinary people, and the government should handle them carefully.

FEMI MEYUNGBE-OLUFUNMILADE IN NIGERIA'S GUARDIAN

It is infantile logic to conclude that simply because we are part of a global economy, the misfortune of a carefree (sorry, free market) section of that economy must be shared with us inevitably. It is wrong.

UGANDA'S NEW VISION

Despite the rapid economic growth Uganda has achieved in the last years, it's still vulnerable to external shocks like the current global financial crisis... The government and policy makers in Kampala should stay on the watch rather than dismiss the crisis.

RUSSIA'S LEFT-LEANING DAILY TRUD

The crisis has already affected the lives of Russians very seriously indeed: 32% have given up expensive food in favour of cheap produce; another third of those polled have totally changed their diet and given up many food stuffs; and another 30%have begun to look for ways to supplement their income, while one in 10 have quickly asked their employer for a pay rise.

AZERBAIJAN'S OPPOSITION DAILY YENI MUSAVAT

Although the government does not admit the impact of crisis, a fairly large army of unemployed will appear in the country shortly if steps are not taken to avert this impact.

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.