China Media: 'De-Americanized' World Needed After US Shutdown

Sunday, 13 Oct 2013 06:45 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

BEIJING — While U.S. politicians grapple with how to reopen their shuttered government and avoid a potentially disastrous default on their debt, the world should consider "de-Americanizing", a commentary on China's official news agency said Sunday.

"As U.S. politicians of both political parties (fail to find a) viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world," the commentary on state news agency Xinhua said.

In a lengthy polemic against American hegemony since World War II, it added: "Such alarming days when the destinies of others are in the hands of a hypocritical nation have to be terminated.

"A new world order should be put in place, according to which all nations, big or small, poor or rich, can have their key interests respected and protected on an equal footing."

Negotiations over how to end the budgetary impasse have shifted to the U.S. Senate after the House Representatives failed to strike a deal with President Obama on extending borrowing authority ahead of a Oct. 17 deadline.

Beijing has in recent days issued warnings as well as appeals for a deal, all the while emphasizing the inseparable economic ties that bind the world's two biggest economies.

"The cyclical stagnation in Washington for a viable bipartisan solution over a federal budget and an approval for raising debt ceiling has again left many nations' tremendous dollar assets in jeopardy and the international community highly agonized," said the commentary.

China is the biggest foreign holder of U.S. Treasury bonds, worth a total of $1.28 trillion according to US government data.

"Instead of honoring its duties as a responsible leading power, a self-serving Washington has abused its superpower status and introduced even more chaos into the world by shifting financial risks overseas," but equally stoked "regional tensions amid territorial disputes, and fighting unwarranted wars under the cover of outright lies" the commentary said, referring to Iraq.

It added that emerging economies should have a greater say in major international financial institutions the World Bank and International Monetary Fund and proposed a "new international reserve currency that is to be created to replace the dominant U.S. dollar."

China has only slightly more weight than Italy at the IMF, which has been headed by a European since its creation in 1944.

A governance reform has been in the works for three years but its implementation has been blocked by the effective veto of the United States.

© AFP 2014

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Canada's Parliament Hill Reopens After Wednesday Shooting

Saturday, 25 Oct 2014 14:48 PM

Canadians returned to the grounds of their parliament building on Saturday, three days after a homegrown radical rushed  . . .

Jack Bruce, Bassist of 60's Band Cream, Dies at 71

Saturday, 25 Oct 2014 14:13 PM

British musician Jack Bruce, best known as the bass player and vocalist of the power blues trio Cream, died Saturday at  . . .

Egypt Leader: 'Foreign Hands' Behind Sinai Attack

Saturday, 25 Oct 2014 09:52 AM

Egypt's President Abdel-Fattah el-Sissi said Saturday that an assault on an army checkpoint in the Sinai Peninsula that  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved