This warning sign seems to have been lost in the shutdown-debt ceiling debate. China's official news agency, Xinhua (New China), today stated:
"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.It would be easy to dismiss this commentary as the ravings of a bunch of Chinese commies. Not so. While I have not surveyed the opinions of the shutdown-debt ceiling fiasco in the international press, I suspect the majority of world opinion would be closer to the Chinese view than to the view that this is purely a domestic US matter.
IN FACT, the world really does look to us as a source of stability, both political and economic. For the past several years we have demonstrated time and again that we no longer can be trusted to supply that stability. At some point, the rest of the world will throw up their hands and walk away from us and no amount of bombing, cruise missiles, cajoling, covert operations, bribes, or drones will bring them back.
Sadly, I see no recognition on the part of anyone in Washington of the damage being done to us internationally by this kabuki theater of shutdown-debt ceiling hostage-taking.
Here are more zingers from the Xinhua commentary:
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.Ouch.
. . .
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.
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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 . . .