As much as any other single development, China’s rise over the past two decades has remade the landscape of global politics. Beginning with its entry into the World Trade Organization in December 2001, China rapidly transformed its economy from a low-cost “factory to the world” to a global leader in advanced technologies. Along the way, it has transformed global supply chains, but also international diplomacy, leveraging its success to become the primary trading and development partner for emerging economies across Asia, Africa and Latin America.
But Beijing’s emergence as a global power has also created tensions. Early expectations that China’s integration into the global economy would lead to liberalization at home and moderation abroad have proven overly optimistic, especially since President Xi Jinping rose to power in 2012. Instead, Xi has overseen a domestic crackdown on dissent, in order to shore up and expand the Chinese Communist Party’s control over every aspect of Chinese society. Needed economic reforms have been put on the backburner, while unfair trade practices, such as forced technology transfers and other restrictions for foreign corporations operating in China, have resulted in a trade war with the U.S. and increasing criticism from Europe.
Meanwhile, China’s “quiet rise” has given way to more vocal expressions of great power aspirations and a more assertive international posture, particularly with regard to China’s territorial disputes in the South China Sea. Combined with Beijing’s military modernization program, that has put Asia, as well as the United States, on notice that China’s economic power will have geopolitical implications. The COVID-19 pandemic initially opened up opportunities for Beijing to expand its influence, but has since called into question both China’s credibility as a responsible stakeholder and the future of the supply chains that have fueled its economic success story.
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