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The New World Order: Where China, not the US, will govern!
Global Village Space |
Alina Malik |
China was leveraging its clout by galvanizing nations to come to terms with its One Belt, One Road initiative. The success of the recently concluded Belt and Road Forum is a testament to it. How does the world view China and what is its potential is worth assessing.
An evolution in Chinese policy could be seen when Beijing launched its Silk Road initiative in 2013 also knows as “One Belt, One Road” which was backed by institutions such as Silk Road Fund and Asian Infrastructure Investment Bank.
In the contemporary world, China is viewed as a rising power which in the future can either overturn the existing world order or establish a new world order. As Napoleon said in 1803, “Let China sleep, for when the dragon awakes, she will shake the world.” Some analysts are of the view that China does not aspire to take the place of United States nor it can. Instead, China is thought to progress towards improving its position in the international system. China believes that the existing world order favors the US and its allies, hence it wants to tilt the order in its own favor. The global power dynamics have shifted from Europe to Asia Pacific with the advent of the twenty-first century mainly because of China’s rise. Observing the recent turn of events in Asia Pacific, it is widely believed that China will soon be a dominant power in the region.
Read more: Why China wants to ‘speed up’ CPEC’s construction?
Chinese scholars have diverse opinions when it comes to choosing the right policy mix that Beijing should pursue. Some scholars argue that they should maintain their “keep a low profile” policy an axiom of Deng Xiaoping. As per this view, China should shadow its strengths to avoid containment and reassure its neighbors of a smooth transition of power. There are inherent dangers associated with over-expansion and underestimating allies or counterparts.
Some believe that Beijing should toss out its traditional foreign policy of keeping a low profile and be more involved in world politics. An evolution in Chinese policy could be seen when Beijing launched its Silk Road initiative in 2013 also knows as “One Belt, One Road” which was backed by institutions such as Silk Road Fund and Asian Infrastructure Investment Bank.
The new world order will be dictated by China
Unlike the Western-backed establishments that promote their values only, Chinese led institutions aims to promote a culture of parity among nations.
The post-World War II order established by America became a foundation for the economic system. Bretton Woods system established in 1944 embodied GATT, World Bank, and IMF. The efficacy of such institutions is endangered by China’s reformist policies such as the development of Asian Infrastructure Investment Bank (AIIB) in 2016. To establish this $100 billion Asian Infrastructure Bank, 50 countries had congregated in Beijing in June 2015. China has begun to establish a parallel set of international institutions to contest America’s hegemony in the region. AIIB is multilateral financial institution perceived as an alternative to World Bank and other international economic institutions.
This marked the first move by Beijing to construct a Sinocentric world order that hovers liberal values propagated around the world. Washington desisted this step taken by China. They argued that this could undermine the existing institutions and might not impose check-and-balance on participants. Keeping in view the discontent with the policies of institutions such as the IMF and The World Bank, AIIB could prove to be a valuable substitute for economic policies.
Read more: CPEC: Pakistan’s economic development or China’s Imperialism
China has proposed new alternatives for economic institutions by questioning the role of institutions such as IMF and World bank. China has launched a campaign to design an alternative framework that would benefit them and others equally. Unlike the Western-backed establishments that promote their values only, Chinese led institutions aims to promote a culture of parity among nations.
Read full article:
The New World Order: Where China, not the US, will govern!
Global Village Space |
Alina Malik |
China was leveraging its clout by galvanizing nations to come to terms with its One Belt, One Road initiative. The success of the recently concluded Belt and Road Forum is a testament to it. How does the world view China and what is its potential is worth assessing.
An evolution in Chinese policy could be seen when Beijing launched its Silk Road initiative in 2013 also knows as “One Belt, One Road” which was backed by institutions such as Silk Road Fund and Asian Infrastructure Investment Bank.
In the contemporary world, China is viewed as a rising power which in the future can either overturn the existing world order or establish a new world order. As Napoleon said in 1803, “Let China sleep, for when the dragon awakes, she will shake the world.” Some analysts are of the view that China does not aspire to take the place of United States nor it can. Instead, China is thought to progress towards improving its position in the international system. China believes that the existing world order favors the US and its allies, hence it wants to tilt the order in its own favor. The global power dynamics have shifted from Europe to Asia Pacific with the advent of the twenty-first century mainly because of China’s rise. Observing the recent turn of events in Asia Pacific, it is widely believed that China will soon be a dominant power in the region.
Read more: Why China wants to ‘speed up’ CPEC’s construction?
Chinese scholars have diverse opinions when it comes to choosing the right policy mix that Beijing should pursue. Some scholars argue that they should maintain their “keep a low profile” policy an axiom of Deng Xiaoping. As per this view, China should shadow its strengths to avoid containment and reassure its neighbors of a smooth transition of power. There are inherent dangers associated with over-expansion and underestimating allies or counterparts.
Some believe that Beijing should toss out its traditional foreign policy of keeping a low profile and be more involved in world politics. An evolution in Chinese policy could be seen when Beijing launched its Silk Road initiative in 2013 also knows as “One Belt, One Road” which was backed by institutions such as Silk Road Fund and Asian Infrastructure Investment Bank.
The new world order will be dictated by China
Unlike the Western-backed establishments that promote their values only, Chinese led institutions aims to promote a culture of parity among nations.
The post-World War II order established by America became a foundation for the economic system. Bretton Woods system established in 1944 embodied GATT, World Bank, and IMF. The efficacy of such institutions is endangered by China’s reformist policies such as the development of Asian Infrastructure Investment Bank (AIIB) in 2016. To establish this $100 billion Asian Infrastructure Bank, 50 countries had congregated in Beijing in June 2015. China has begun to establish a parallel set of international institutions to contest America’s hegemony in the region. AIIB is multilateral financial institution perceived as an alternative to World Bank and other international economic institutions.
This marked the first move by Beijing to construct a Sinocentric world order that hovers liberal values propagated around the world. Washington desisted this step taken by China. They argued that this could undermine the existing institutions and might not impose check-and-balance on participants. Keeping in view the discontent with the policies of institutions such as the IMF and The World Bank, AIIB could prove to be a valuable substitute for economic policies.
Read more: CPEC: Pakistan’s economic development or China’s Imperialism
China has proposed new alternatives for economic institutions by questioning the role of institutions such as IMF and World bank. China has launched a campaign to design an alternative framework that would benefit them and others equally. Unlike the Western-backed establishments that promote their values only, Chinese led institutions aims to promote a culture of parity among nations.
Read full article:
The New World Order: Where China, not the US, will govern!
