U.S. debt ceiling crisis results from reckless politics fuelled by dollar hegemony: report

HONG KONG, May 23 (Xinhua) -- The U.S. debt ceiling crisis is the result of reckless politics driven by dollar hegemony, reported the South China Morning Post, a Hong Kong-based English-language daily.

Any other economy would have been punished far more severely by markets for its politicians' brazen abuse of the country's financial system and creditworthiness, said the report.

"However, U.S. monetary hegemony gives its politicians too much leeway to endanger national and global stability," it said.