(By Deutsche Welle) In the response to the debt ceiling battle in the US, Beijing has called for the world to become more independent of Washington. But the emerging global powers have no vision for what a post-American order should be.
In an editorial published by China’s state news agency Xinhua, Beijing has lambasted US global leadership, calling for emerging economies to forge a new world order that is less dependent on the volatilities of American domestic politics.
China, the largest single-holder of American Treasury securities, has a particularly strong national interest in how the US reacts in the wake of the resolution of the shutdown and the decision to raise the debt ceiling, albeit temporarily. A US default could have devalued the billions of Treasuries that Beijing holds.
The Chinese government has used the opportunity to question the legitimacy of US global leadership, saying that “it is perhaps a good time for the befuddled world to start considering building a de-Americanized world.”
“Such alarming days when the destinies of others are in the hands of a hypocritical nation have to be terminated, and a new world order should be put in place, according to which all nations, big or small, poor or rich, can have their key interests respected and protected on an equal footing,” Xinhua author Liu Chang wrote.
But according to foreign policy expert Charles Kupchan, China’s response to the political crisis in Washington is largely a rhetorical one.
“China is taking advantage of the troubles in Washington to advance its desire to create an international order that diminishes the influence of the United States,” Kupchan, with the Council on Foreign Relations, told DW.