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NewsChina

Chinese state media calls for ‘de-Americanised’ world after US shutdown

Xinhua says 'new world order should be put in place' where all nations can have interests respected on equal footing

PUBLISHED : Sunday, 13 October, 2013, 1:58pm
UPDATED : Sunday, 13 October, 2013, 1:59pm
 

While US politicians grapple with how to reopen their shuttered government and avoid a potentially disastrous default on their debt, the world should consider ‘de-Americanising’, a commentary on China’s official news agency said on Sunday.

“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 state news agency Xinhua said.

In a lengthy polemic against American hegemony since the second world war, 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.”

A self-serving Washington has abused its superpower status and introduced even more chaos into the world by shifting financial risks overseas
Xinhua state news agency

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

Beijing has in recent days issued warnings as well as appeals for a deal, all the while emphasising 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 agonised,” said the commentary.

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

“Instead of honouring 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 US 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.

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This article is now closed to comments

LunarRepublic
With all due respect to China, as a Hong Konger, I rather have the world be more influenced by a flawed democratic nation that emphasizes liberty despite its often hypocritical actions, rather than a massive totalitarian dictatorship that doesn't even bat an eye at arresting people for just complaining about their government.
frank.a.hilario
You, for once China is right!
johnyuan
There are three institutions, two created shortly after the WWII – the WTO and IMF. One in the 70s of last century is the Trilateral Commission. For me they all seek a new world order. UN was also created shortly after the WWII but its involvement and power are less than those institutions in world affairs. UN is disproportional to the universality and number of memberships of the organization. Those three institutions are created by US at the time without China’s participation. There seems for any of these institution to be relevant for the present world, they have to take China as the second largest economy and population into consideration. When China speaks; listen. Perhaps a new order is in the order.
KwunTongBypass
If China does not want to fall into the same category of self serving hypocritial countries, and states that "A new world order should be put in place, according to which all CITIZENS, big or small, poor or rich, can have their key interests respected and protected on an equal footing" - then maybe the world will listen.
P.S. China can start by giving its citizens access to e.g. the on-line SCMP, which is blocked by its censors!
daily
Yes, China has a good point on this.........it's about time the world stops putting so much focus and reliance on the Americans..........the Republicans and Democrats are fighting like children and the world doesn't need this nor them...............
johndoe
China is asking for a "New World Order", basically this is what Henry Kissinger has been promoting all along, which is a world government. China world government? Thanks but no thanks!
ianson
As much as we'd be better off without a US dominated planet, it's laughable for Xinhua to rail at hypocrisy. The most hypocritical state on the planet right now is the ultra-capitalist Communist Party-ruled PRC.
scmpgt
PRC citizens are under paid, unhappy and flee their homeland everyday by the thousands. Something tells me US is not the problem.
sudo rm -f cy
"Xinhua says 'new world order should be put in place' where all nations can have interests respected on equal footing"... as long as they don't conflict with Chinese interests, of course.
(By the way, there needs to be a way to correct mis-clicks of the like/dislike buttons.)
lbsaw
America has made the world to rely on its "In God We Trust" currency. Every wealthy nations surpluses are hoard in US$ denominated treasury notes. Will the surpluses of such countries take a write-off? The Renminbi is far from being an internationally freely traded currency. The Euro is far from being a safe alternative to the US$. All other international currencies, be it the UK pound, Australian $, Japanese Yen, Canadian $, Mexican Pesos, Saudi Riyals, and others, are not sizeable in use and spread to replace the US$. Whether the politics of America increase the debt ceiling or not, the United States of America knows they have established a currency that will be the mainstay for many years to come.

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