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Please begin with an informative title:

Lost in the cataclysmic predictions about impacts of a debt ceiling crisis on the U.S. and world economy is another issue that is not getting much attention.

Could this be expediting the end of U.S. Economic Hegemony?

Reading the green tea leaves, the answer is clearly "yes".  And China is Paying attention very closely:

From Bloomberg: Li Says China Paying Great Attention to U.S. Debt Ceiling

“We hope the U.S. can take actions to ensure the safety of China’s assets and investments in the U.S.,” Hua Chunying, a spokeswoman for China’s Foreign Ministry, said at a regular briefing yesterday. Economic problems in the U.S. will “naturally impact” China and the world economy, Hua said.
Japan, the second-biggest Treasuries holder, must consider the impact of any default on its bond holdings, even as the U.S. will probably avoid a fiscal crisis, Japanese Finance Minister Taro Aso said Oct. 8.
Any failure by the U.S. to honor its debt obligations would damage the dollar’s status as the world’s reserve currency
Do the Republicans hate America?  

Don't think for a second that China isn't chomping at the bit to elevate itself to world economic hegemony.  

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