The book Currency Wars authored by Song Hongbing, has been of China’s best sellers related to contemporary politics and economics. The book invents a relationship between the “Rothschild family,” and American politics to allege that the world economy is controlled by the Rothschilds. This exaggeration of the influence of Americans and Europeans, consortia, and even individuals on the world has as its main intention the creation of a belief in “Western hostile forces” working against China, thus inflaming “pop-nationalism”. This paper argues that, Currency Wars caters to fears of Western influence common in Chinese history and which reflects a traditional group psychology; second, the spread and acceptance of this book reflects a pop-nationalism based around fears of globalization similar to those which inspired the “Boxer Rebellion” over a century ago. To overcome refuge in these sorts of ideas, China must find positive ways to communicate with the world and assume its international responsibilities as it continues to reform and open up.