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Can the Euro Crisis Be Solved?

Globe and Mail: China should celebrate, not imprison, its courageous voices. LAT: Despite WikiLeaks, the Arab world still doesn't like the US. IHT: Let China reform in its own way.

Address the root causes of the eurozone’s troubles

Alistair Darling, former chancellor of the British Exchequer, writes in the New York Times that the eurozone must stop trying to help individual nations as they face economic crises and instead address the root causes of the financial problems affecting all member nations.

QUOTE: What is needed instead is a balanced approach in which deficits are brought down quickly, but not in such a way as to destroy the economic or social fabric of those countries. The pace of deficit reduction needs to match the capacity of the private sector to pick up the slack.

America must show North Korea that it cannot get away with escalation

Paul Dibb, emeritus professor of strategic studies at the Australian National University, writes in the Australian that China must make sure that North Korea knows that the United States will inflict serious damage if Pyongyang makes the wrong move.

QUOTE: The US needs to have a more inclusive declaratory strategy that might - for example - involve strikes on North Korean naval bases. If it does not, there is a risk that Pyongyang may think that it can get away with ever-increasing escalation.

The eurozone cannot cope with its problems

Columnist Wolfgang Münchau writes in the Financial Times that the eurozone system is currently unable to cope with the depth of its problems. It keeps repeating the same mistakes, lacks political coordination and has seen a communications breakdown.

QUOTE: The political choice is either to retreat into a corner, and hope for some miracle, or to agree a big political gesture, such as a common European bond. What I hear is that such a gesture will not happen.

How America can reduce its deficit

Joseph E. Stiglitz, professor at Columbia University and a Nobel laureate in economics, writes in Project Syndicate that America should reduce its long-term deficit by increasing spending on public investments, decreasing military expenditures, reducing “corporate welfare” and making the tax system more fair.

QUOTE: A deficit-reduction package crafted along these lines would more than meet even the most ardent deficit hawk’s demands. It would increase efficiency, promote growth, improve the environment, and benefit workers and the middle class.

Let China reform in its own way

Eric Li, founder and managing director of a leading venture capital firm in Shanghai, writes in the International Herald Tribune that if a Western-style democratic movement swept through China, it could destabilize the country. He argues that China’s socialist system is the best chance it has to achieve its development goals while gradually providing its people more liberties.

QUOTE: It is unprecedented that the rise of a nation of China’s size at such speed is taking place largely in peace. Let’s allow it to continue.

Concrete action is needed to affect change in North Korea

Carolyn Leddy, who served at the US State Department and on the National Security Council staff from 2003 to 2007, writes in the National Review that the United States should put more pressure on North Korea by working with its allies to seize Kim Jong-Il’s financial assets and holding nations that support the rogue regime accountable.

QUOTE: Washington, Seoul, and Tokyo must follow up with concrete actions so today’s meeting is not just another diplomatic photo op.

America should focus on insourcing to create jobs

Robert Kimmitt, former deputy secretary of the US Treasury, and Matthew Slaughter, a former member of the council of economic advisers, write in the Wall Street Journal that the United States should boost its job growth by supporting multinational companies with US operations.

QUOTE: America should set a more welcoming and optimistic tone. A good start would be an "open investment policy" statement from President Obama affirming America's commitment to promoting international investment.

China should celebrate, not imprison, its courageous voices

John Ralston Saul, president of PEN International, writes in Toronto’s Globe and Mail that China is jeopardizing its chance to build trust around the world. China should respect its people’s human rights and allow writers like Liu Xiaobo to express themselves.

QUOTE: Freedom of expression, while it can guarantee nothing, is nevertheless the key to making reform possible. This is why a courageous voice like that of Mr. Liu needs to be celebrated. The first simple step is to free him.

The social contract must be rewritten

Newsweek columnist Robert Samuelson writes in Real Clear Politics that people’s view of government has changed. Rather than believing that government should always work in a nation’s interests, people now expect the state to provide benefits no matter what the cost. He argues that the social contract between people and their government must be rewritten to take into consideration a nation’s best interests.

QUOTE: The social contract will be rewritten either by design or, as in Europe, under outside pressures. If we keep the expedient morality of perpetual programs -- so that nothing fundamental can ever be abandoned -- then Europe's social unrest could be a prelude to our own.

Don’t oversimplify WikiLeaks’ Iran findings

Dalia Dassa Kaye, a senior political scientist at the Rand Corp, writes in the Los Angeles Times that the recent WikiLeaks revelations concerning the Arab world’s views of Iran should be considered with caution. She writes that Arab nations’ views on Iran vary widely. Plus, an antipathy for Iran does not equate with an affinity with the United States.

QUOTE: Despite considerable US arms sales and missile defense cooperation with allies in the region in recent years, American credibility is in decline, and popular views of the United States are overwhelmingly negative.

http://www.globalpost.com/passport/todays-views/101206/can-the-euro-crisis-be-solved