China Calls for “De-Americanized” World

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Here is today’s shutdown news:

Upset that the fiscal stalemate in Washington is threatening the global economy, China called for the U.S. dollar to be replaced as the international reserve currency as well as for broader steps to create a “de-Americanized world.”

China also called for an end to the “pernicious impasse” in the U.S. over the raising the debt limit and ending the partial government shutdown, saying the world needed another reserve currency so nations could protect themselves “from the spillover of the intensifying domestic political turmoil in the United States.”

China has been saying stuff like this for a long time, so in a sense this isn’t a big deal. But as the mess in Washington drags on, more and more countries are going to be taking this idea more seriously. I’m generally bullish on America’s future relative to other areas of the world, but that could change if dysfunctional governance forces the rest of the world to essentially gang up against us for their own safety. Thanks, Republicans!

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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