The looming prospect of a U.S. default on debt prompted China to call for the world to “de-Americanise” Sunday, amid warnings of a new global recession.
Xinhua, the official Chinese government news agency, said that as U.S. 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 was made as Christine Lagarde, the director of the International Monetary Fund, 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.
Harry Reid, leader of the Democrat-controlled Senate and Mitch McConnell, who heads the Republican minority, met for “preliminary” talks after the collapse of negotiations between the White House and Republicans in the lower chamber. Jack Lew, the Treasury secretary, has said…
View original post 337 more words