Shutdown debacle shows US has far more influence on world than it deserves

PUBLISHED : Tuesday, 15 October, 2013, 12:00am
UPDATED : Tuesday, 15 October, 2013, 3:35am
AFP

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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 state media commentary 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 by 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."

Negotiations on ending the budgetary impasse have shifted to the US Senate after House representatives failed to strike a deal with President Barack Obama on extending the borrowing authority ahead of Thursday's 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 the debt ceiling has again left many nations' tremendous dollar assets in jeopardy and the international community highly agonised," the Xinhua commentary said.

China has the largest foreign holdings of US Treasury bonds, worth US$1.28 trillion according to US government data.