China Says - World Should De-Americanise- Warns of Massive Worldwide Disruption

Part of this is typical Chinese anti-American rhetoric and obviously they want to have the 'pre-eminent position in the world'. But part of it is also true that the US debt situation as well as our political situation is unstable. However, no matter which country fights it's way to the top of the international pyramid, the world economic situation is in a dire situation and is destined to collapse (IMHO).

Telegraph UK - China says the World Should De-Americanise

The looming prospect of a US default on debt prompted China to call for the world to “de-Americanise”, amid warnings of a new global recession. In China, Xinhua, the official government news agency, said that as American politicians continued to flounder over a deal to break the impasse, “it is perhaps a good time for the befuddled world to start considering building a de-Americanised world”.

The jibe came as Christine Lagarde, the International Monetary Fund chief, raised the spectre of a repeat of the 2008 financial crash as hopes dwindled for a resolution of the crisis over the debt ceiling and partial government shutdown. ..

Xinhua attacked America’s pre-eminent position in the world, adding that “such alarming days when the destinies of others are in the hands of a hypocritical nation have to be terminated”.

More information at the link.

Related -

Reuters - Worlds Top Bankers Warn of Dire Consequences if US Defaults

Three of the world's most powerful bankers warned of terrible consequences if the United States defaults on its debt, with Deutsche Bank chief executive Anshu Jain claiming default would be "utterly catastrophic."

"This would be a very rapidly spreading, fatal disease," Jain said on Saturday at a conference hosted by the Institute of International Finance in Washington. "I have no recommendations for this audience...about putting band aids on a gaping wound," he said.

Jain, JPMorgan Chase chief executive Jamie Dimon and Baudouin Prot, chairman of BNP Paribas, said a default would have dramatic consequences on the value of U.S. debt and the dollar, and likely would plunge the world into another recession.

It's not just China but the other world economic sectors are very concerned about chaos around the world if (when) America defaults.

THIS IS SETTING THE STAGE FOR A MAJOR SHIFT OF WORLD POWER.
I believe it's been engineered to happen this way.

I hate to say it but I believe the Chinese are right.

Why isn't the US gov doing anything to tackle its humungous debt?

Seems like the whole world is in austerity hell, but not Uncle Sam.

Two threads already

www.abovetopsecret.com...
www.abovetopsecret.com...

reply to post by xavi1000


Missed 'em. Dang this ATS search function.
Thanks.

reply to post by FlyersFan


No problem , there is good discussion in both of them

reply to post by CJCrawley


We are in austerity hell...the sequester