| Knowledge-Net for a Better World |
April 2019 |
| |
Rising China and New Civilization in the Asia-Pacific
Working Paper Series (Economic Section) |
| |
|
|
|
| "How Should We View China’s Economic Rise?" |
China’s rapid economic growth since its reform and opening up has propelled it to the status of a global power. If China’s economy continues to grow and subsequently approaches the level of the US GDP at some point in the future, what will the world be like? To explore possible answers to this question, EAI has launched a multi-year research project titled “Rising China and New Civilization in the Asia-Pacific” that aims to identify major global challenges posed by China's continuous growth over the coming decades. For the first year of this research, EAI focused on analyzing current issues and trends relating to China's economy, energy and the environment, technology, and security, and projecting how these will influence China and the surrounding region over the next ten years. In doing so, this research has produced a series of working papers. The following is the third set of papers covering economic issues.
US economic policy toward China has centered on the integration of the country into the US-led global rule-based system since its opening up in 1978. However, this approach has been shaken since the Trump administration abandoned many of the pillars of liberal institutionalism. The clash between such shifts and China’s increasingly statist developmental approach under Xi jinping has led to tensions between the US and China. In the lead paper in this collection, Stephan Haggard and Barry Naughton examine policy changes of the two countries and the implications as well as the resulting conflicts which have risen. The authors also offer a careful analysis and map out three possible scenarios of the prospects for US-China relations in the short- and intermedium term [PC Read More] [Mobile Read More]
In the second paper, Feiteng Zhong attempts to understand the rise of China by applying key concepts from international relations theory, such as the “balance of power” and “hegemony.” Zhong, however, points out that some concepts can be interpreted differently according to local contexts and thus it is necessary to look at a phenomenon from various perspectives to reach comprehensive understanding. As part of this effort, the author introduces a new concept, called “developmental security” as an alternative way to view China’s rise in the Chinese context. This concept is originated from China’s development-oriented grand strategy in which growth in GDP per capita forms the basis for national strategic goals, the interests of security and development are unified, and a peaceful environment around the region is fostered to promote domestic development [PC Read More] [Mobile Read More]
While the first two papers analyze China’s economic policy in line with its broader national strategy, Junwei Liang narrows his focus down to China’s trade policy and trends. He offers a comprehensive overview of China’s trade balances, product varieties, trade partners, regional characteristics, and trade in commodities and services, arguing that China should make more of an effort to use its domestic market and the rising social challenges of a decreasing labor force. Despite global concerns about China’s return to a more statist and developmentalist approach, the author offers assurance that China will continue to pursue opening up and deepen its reforms. [PC Read More] [Mobile Read More] |
|
|
|
| |
|
|
| |
#909 Sampoong B/D, 158, Eulji-ro, Jung-gu, Seoul, 04548, Republic of Korea
Tel 82 2 2277 1683 | Fax 82 2 2277 1684 | Email EAI
Copyright 2019 © EAST ASIA INSTITUTE. All Rights Reserved. |
|
| |
|
