by: J. D. Heyes
Students of history know and understand that empires rise and fall, because that is the nature of the world. That said, more than just a few analysts believe that the American empire is on the decline.
Yes, I said "empire," because that's exactly what the United States has become, though clearly our founding fathers never envisioned an America that wielded power and influence globally, and in ways that are increasingly focused on narrow, selfish interests.
To the casual observer, it might not yet be apparent, but to those focused on the big picture, the signs of decline are evident.
Take for instance calls by China in recent months to "de-Americanize" the world; given that China is our largest creditor, that's a pretty important development.
'Time to start considering building a de-Americanized world'
According to a recent report by the International Business Times (IBT), China's official news agency, Xinhua, called for this de-Americanization on the eve of the political battle over the debt ceiling, "saying the destinies of people should not be left in the hands of a hypocritical nation with a dysfunctional government."
Xinhua, you see, is not a "free" and "independent" newswire service; it is essentially an official mouthpiece for the communist Chinese government.
In criticizing and ridiculing lawmakers in Washington, the news service called the U.S. a civilian slayer, a torturer of prisoners and meddler in world affairs, adding that "Pax Americana" was a colossal failure in every way.
Xinhua said further that American economic dominance is an illusion - an assessment that, when you get right down to it, may be spot-on.
"As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking 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," said the Xinhua editorial.
The Chinese op-ed went on to ask rhetorically why the world's self-declared protector is purposefully sowing trouble in the financial markets by failing to reach political parity and compromise on a range of issues, especially important economic policy.
"[T]he 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 Xinhua op-ed.
It certainly was not the first time the Chinese government has issued scathing criticism against Washington over policy differences that, on the surface at least, appeared destined to cause a devaluation of Beijing's massive dollar assets.
"According to US Treasury Department data, China is the biggest foreign owner of US Treasuries at $1.28 trillion as of July. Besides, China also holds close to $3.5 trillion of dollar-denominated assets," reports IBT.
It was fear over a potential U.S. default that primarily drove such criticism, along with a resultant drop in U.S. credit ratings and an erosion of China's holdings.
Already moving away from U.S. dollars
The Xinhua editorial recommended that the first step in creating a world less influenced by America would be to form an international system that ostensibly offers respect for the sovereignty of nations and ensures that the U.S. stays out of the domestic affairs of others (this demand is always tied to China's pledge to "reunify" Taiwan with the mainland; Taiwan is a U.S. ally but is viewed by Chinese leaders as little more than a "breakaway province").
"The developing and emerging market economies need to have more say in major international financial institutions including the World Bank and the International Monetary Fund, so that they could better reflect the transformations of the global economic and political landscape," the editorial says.
In addition, the editorial also laid bare Chinese strategy to divest itself, over time, of U.S. holding by calling for an end to the dollar as the world's reserve currency - something Beijing is already doing, along with other nations.
Learn more: http://www.naturalnews.com/042603_China_post-American_world_dysfunctional_government.html#ixzz2iRyWLwa9
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