People’s Daily recently published a commentary that started with the joke that the Managing Director of the International Monetary Fund expressed the possibility of moving the IMF’s headquarters to Beijing (from Washington D.C.). The commentary suggested that the joke at least reflected a view on the changing role of the United States. The author referred to the IMF’s latest World Economic Outlook (WEO) report that adjusted down the U.S. and the British growth rates while adjusting up China’s as well as the Eurozone’s. The United States seems to be losing its power in terms of being the engine of the world economy. Instead, the emerging economies led by China and India contributed three quarters of the global economic growth. In the meantime, the commentary pointed out, the U.S. role on the world stage is heading downhill, especially since President Trump has brought his country a dramatically worsened global image. According to a study that a Californian institute published, France ranks as number one in world soft power (the U.S. being number three). Even the proud American “soft power” is no longer “glowing.” According to the commentator, even the Germans expressed the belief that the U.S. is no longer interested in global cooperation and has broken a “great union” with Europe. The article concluded that, although a new world order is being formed, one cannot just ignore the U.S., yet.
Source: People’s Daily, July 29, 2017