According to Bloomberg Businessweek, a not-so-subtle commentary published by Chinas official Xinhua News Agency, suggests that it is perhaps a good time for the befuddled world to start considering building a de-Americanized world.
Key among its proposals: the creation of a new international reserve currency to replace the present reliance on U.S. dollars, a necessary step to prevent American bumbling from further afflicting the world, the commentary suggests.
The cyclical stagnation in Washington for a viable bipartisan solution over a federal budget and an approval for raising the debt ceiling has again left many nations tremendous dollar assets in jeopardy and the international community highly agonized, says Xinhua. The world is still crawling its way out of an economic disaster thanks to the voracious Wall Street elites, it adds.
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