Skip to content

Huanqiu: U.S. Debt Negotiation is Holding Other Countries Hostage

Huanqiu published an editorial on the current negotiation between the U.S. President and Congress to increase the national debt ceiling. “Although analysts believe that Obama and Congress ultimately will ‘definitely’ reach an agreement, they dare to use their sovereign credit as a rubber ball on a playing field, and dare to hold hostage China, Japan, Germany, and the many countries that have bought U.S. Treasury bonds. Imagine how unbalanced this world is!”

“There must be more restrictions placed on the prerogatives of the United States. It would require that the world join hands in fighting the U.S. as well as that the United States awaken. The self-serving nature of the U.S. dollar as the sovereign currency is incompatible with the role of internationalism that it plays. … Wall Street used to be the recharger of the U.S. economy and has now become a smoke-filled common gaming house and a school for thieves. Power cannot sustained unreasonable things for long. The United States should awaken.”

Source: Huanqiu, July 16, 2011