China Steps Up Its Aid Game

“As hundreds of thousands of Filipinos struggled to find food, water, shelter and the bodies of loved ones in the wake of Typhoon Haiyan, China quickly dipped into its world-leading $3.7 trillion of currency reserves and came up with … all of $100,000.” That Bloomberg news lead captured the general recoil at how the world’s second-largest economy treats an Asian neighbor. Other headlines stated “cheapskate,” “paltry,” “miserly” and, in one mainland-Chinese daily, “ungenerous.”