China: World must be ‘de-Americanised’

President Obama meets with House officials including, left to right, Majority Leader Eric Cantor, Minority Leader Nancy Pelosi and Speaker John Boehner.

face=Arial>China’s official news agency on Sunday said the world should consider

‘de-Americanizing’ the international financial system, amid the continuing

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face=Arial>As a political stalemate persists over the US government’s budget and

debt ceiling debate, experts warn of terrible consequences for the world economy

if the US defaults.


face=Arial>China has previously issued repeated warnings about the danger of a

US default because of the threat to Chinese investments in the



face=Arial>”As US 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-Americanised world,” the commentary on Xinhua said.


face=Arial>”Such alarming days when the destinies of others are in the hands of

a hypocritical nation have to be terminated,â€‌ the news agency



face=Arial>“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.”


face=Arial>The comments in Xinhua were part of a lengthy commentary against

American hegemony since World War II.


face=Arial>”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



face=Arial>China is the largest foreign holder of US government debt and has

roughly 60 percent of its $3.5 trillion foreign currency reserves invested in US



face=Arial>”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 the

wars in Iraq and Afghanistan.



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