The reputation of the United States appears to be suffering more around the world than at anytime in modern history. Edward Snowden's revelations of the vastness of NSA spying, a widening divide between the extremely wealthy and the poor, consistent reports of human rights abuses by the American psychiatrists and their courts, and most recently the prolonged fiscal crisis have all been eroding confidence in the United States worldwide. Al Jazeera reported on Oct. 17, 2013, "Critics call for 'de-Americanized' world after US fiscal debacle."
Although the GOP reluctantly consented to a short-term fix to end the 16-day government shutdown, the world remains tense about the growing brinkmanship in Congress, which some fear is now what to expect. Martin Hennecke, chief economist at the Henley Group, feels the shutdown crisis may move central banks, such as China's, to dump U.S. Treasury bonds and move quickly into assets denominated in other currencies.
In fact, Liu Chang has written an editorial for China's Xinhua news agency, which has been picked up worldwide, calling for a "de-Americanized world." Foreign Policy has reported, "Journalist's Call for de-Americanized World." An Oct. 13 editorial in Xinhua, which is China's largest news agency, has called for a "de-Americanized world" in view of Washington's fiscal dysfunction. However, Foreign Policy claims this op-ed does not necessarily represent the views of the Communist Chinese Party.
China's Ministry of Foreign Affairs issued an official comment on the fiscal crisis, saying, "China and the U.S. are economically intertwined and inseparable. We hope that the U.S. can resolve this issue and ensure the security of Chinese assets in the U.S." Nevertheless, the bottom line actually is nothing very controversial appears to be open for publication by Xinhua without clearance from the Chinese Communist Party. This realization opens up pandora's box regarding what this all could mean for American interests worldwide.