Hugh Pickens DOT Com (2995471)
writes "Businessweek reports that as nations around the world fret over the US budget impasse according to a not-so-subtle commentary published by China’s official Xinhua News Agency "it is perhaps a good time for the befuddled world to start considering building a de-Americanized world". Key among its proposals: the creation of a new international reserve currency to replace the present reliance on US dollars, a necessary step to prevent American bumbling from further afflicting the world. “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 agonized,” says Xinhua. “The world is still crawling its way out of an economic disaster thanks to the voracious Wall Street elites." The commentary calls for a greater role for developing-market economies in both the World Bank and International Monetary Fund and adds that “the authority of the United Nations in handling global hot-spot issues has to be recognized. That means no one has the right to wage any form of military action against others without a UN mandate." The commentary concludes that "the purpose of promoting these changes is not to completely toss the United States aside, which is also impossible. Rather, it is to encourage Washington to play a much more constructive role in addressing global affairs.""