China and the Struggle over the Future of International Order

2018 ◽  
Author(s):  
Zhongying Pang
Keyword(s):  
International Institutions ◽  
International Order ◽  
World Politics ◽  
Infrastructure Investment ◽  
Belt And Road Initiative ◽  
Investment Bank ◽  
The Future ◽  
Belt And Road ◽  
Governance Institutions ◽  
The Belt And Road

This chapter discusses China’s changing attitude, doctrine, and policy actions towards international order and offers some tentative findings on the complexity of China’s role in the struggle over the future of international order. This complexity results from China’s efforts simultaneously to consolidate its presence in the existing international order but also to reform existing global governance institutions. The ambition to seek an alternative international order makes it, at least to some extent, a revisionist state. While pursuing an agenda to reform the existing international order from within, China additionally has begun to sponsor an unprecedented number of new international institutions and initiatives of its own, such as the Asian Infrastructure Investment Bank (AIIB) and the Belt and Road Initiative (BRI). How this will play out will depend above all on the interaction of China with a USA still wedded to its hegemonic role in world politics.

The Belt and Road Initiative and the Transformation of Globalization

2018 ◽  
Vol 46 (1) ◽  
pp. 30-37
Author(s):  
Professor Biliang Hu
Keyword(s):  
Developing Economies ◽  
Positive Impact ◽  
Cultural Development ◽  
Belt And Road Initiative ◽  
Negative Effects ◽  
New Era ◽  
The Future ◽  
Belt And Road ◽  
Governance Institutions ◽  
The Belt And Road

Globalisation contributed to the economic, social, political and cultural development of the deve- loped and developing countries. At the same time, it had an adverse effect, which is in-creasing disparity of income between various social groups and countries. The continuation of such process will lead to the weakening of globalisation, so there is a need to transform globalisation. According to the Author, the initiative of China, entitled: New Belt and New Road is an example of such actions and will contribute to giving new impetus to the process of globalisation in the future. <b>Globalization is now facing one of the biggest challenges in the history: British exit from the EU (Brexit), USA’s quit from the Paris Agreement on climate change, USA also quitted from TPP agreement as well as from UNESCO. People start worry about the next moves of globalization. Therefore, we need to discuss the future of globalization seriously. </b> Clearly, globalization brought very positive impact on economic, social, political and cultural developments for all the countries including the developed as well as developing economies. However, globalization also brought some negative effects, such as the income disparity among different groups of people and different countries. It has been continually enlarging, not narrowing down in the process of globalization. How to deal with the continual globalization? Of course there are different ways. We have been seeing the rising of the nationalism, the protectionism in some of the countries, we have been seeing withdraws of some countries from the global governance institutions. At the same time, we find that China has been making great efforts not only pushing forward the continual globalization but also trying to transfer the old style globalization to the new style globalization which is what I called the transformation of globalization in the new era through the Belt and Road Initiative.

scholarly journals The BRI and AIIB: A Challenge to the Liberal International Order?

2021 ◽  
Author(s):  
◽  
Thomas Whyte
Keyword(s):  
World Economy ◽  
International Order ◽  
Chinese Foreign Policy ◽  
Infrastructure Investment ◽  
Central Component ◽  
Xi Jinping ◽  
Investment Bank ◽  
Multilateral Trade ◽  
Belt And Road ◽  
The Belt And Road

<p>First announced in 2013, the Belt and Road Initiative (BRI) has become a central component of Chinese foreign policy under the presidency of Xi Jinping. Given the scope and vision of the BRI, several fundamental questions have been raised by the policy. Is the BRI threatening? Will it strengthen the system? Will it supplement it? In order to explore this puzzle, the thesis undertakes empirical analyses of the BRI and the accompanying Asian Infrastructure Investment Bank (AIIB). These analyses will be placed within a container of the Liberal International Order (LIO). This framework, derived from the writings of G. John Ikenberry, is based around four elements: Open Multilateral Trade, International Institutions, Liberal Democracy and Neoliberal World Economy. The findings show that the BRI and AIIB have combined to create a disorientating picture in which elements of the LIO are both strengthened and undermined. This allows China to sit benignly within the order while constructing the infrastructure needed to break from the system - if and when required.</p>

scholarly journals The BRI and AIIB: A Challenge to the Liberal International Order?

2021 ◽  
Author(s):  
◽  
Thomas Whyte
Keyword(s):  
World Economy ◽  
International Order ◽  
Chinese Foreign Policy ◽  
Infrastructure Investment ◽  
Central Component ◽  
Xi Jinping ◽  
Investment Bank ◽  
Multilateral Trade ◽  
Belt And Road ◽  
The Belt And Road

<p>First announced in 2013, the Belt and Road Initiative (BRI) has become a central component of Chinese foreign policy under the presidency of Xi Jinping. Given the scope and vision of the BRI, several fundamental questions have been raised by the policy. Is the BRI threatening? Will it strengthen the system? Will it supplement it? In order to explore this puzzle, the thesis undertakes empirical analyses of the BRI and the accompanying Asian Infrastructure Investment Bank (AIIB). These analyses will be placed within a container of the Liberal International Order (LIO). This framework, derived from the writings of G. John Ikenberry, is based around four elements: Open Multilateral Trade, International Institutions, Liberal Democracy and Neoliberal World Economy. The findings show that the BRI and AIIB have combined to create a disorientating picture in which elements of the LIO are both strengthened and undermined. This allows China to sit benignly within the order while constructing the infrastructure needed to break from the system - if and when required.</p>

scholarly journals Rising China and Global Investment Governance: An Overview of Prospects and Challenges

2018 ◽  
Vol 4 (2) ◽  
pp. 122-153 ◽  
Author(s):  
Dilini Pathirana
Keyword(s):  
Rapid Growth ◽  
International Investment ◽  
Infrastructure Investment ◽  
Belt And Road Initiative ◽  
Investment Bank ◽  
Investment Treaty ◽  
Belt And Road ◽  
Rising China ◽  
Legitimacy Crisis ◽  
The Belt And Road

Abstract International investment is one of the fields of global governance that is likely to be affected by China’s rise as a global superpower in general, and its rise as a global investor in particular. It has become manifest by China’s leadership in forming of the G20 Guiding Principles for Global Investment Policymaking and in establishing the Asian Infrastructure Investment Bank, while signaling the country’s growing capacity to influence global investment governance. However, China’s aspiration to steer global investment governance is being hindered by the increased backlash against globalisation and the investment treaty regime, as well as the rapid growth of Chinese investments. At the same time that protectionist measures aimed at Chinese investments are on the rise, the Belt and Road Initiative is underway, which will increase Chinese desire to safeguard the interests of Chinese investors. Consequently, it is possible that a Beijing-based pole in global investment governance could emerge, just as reforms are underway to address the legitimacy crisis in the regime.

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