You story link you posted is from Xinhuanet, from Communist China. They're not biased against the U.S., are they?
Here is Powell's transcript:
Briefing by Secretary of State Colin L. Powell (TRANSCRIPT of full statement on Ukraine)
http://www.freerepublic.com/focus/f-news/1287801/posts
What we have here is a hyped up twisted reporting by the US media, which hyped up part of Powell's statement, and didn't report on the rest. Sadly, the Chinese press was indeed more accurate in reporting on Powell's statement, than the US media.