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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This is a big one for us. So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

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