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China's Global Political Economy: Ascendance, Influence, and Challenges

Neil Parker

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Published in China S Global Political Economy: Managerial Perspectives (Routledge Studies On Comparative Asian Politics)

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China's Global Political Economy: Managerial Perspectives (Routledge Studies on Comparative Asian Politics)

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Language	:	English
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China's rise in the global political economy has been one of the most significant developments of the 21st century. Over the past few decades, China has transformed itself from a relatively poor and isolated country into the world's second-largest economy and a major player in global affairs.

China's economic growth has been nothing short of astonishing. Since the late 1970s, the country has experienced an average annual growth rate of nearly 10%. This growth has been driven by a number of factors, including:

Industrialization and urbanization
Foreign direct investment
Exports
Government policies

China's economic growth has had a profound impact on the global economy. The country has become a major market for goods and services, and its exports have helped to fuel economic growth in other countries. China has also become a major source of foreign investment, and its companies are playing an increasingly important role in global supply chains.

In addition to its economic power, China has also become a major player in global politics. The country has increased its military spending and expanded its diplomatic presence. China has also taken a more active role in international organizations such as the United Nations and the World Trade Organization.

China's rise has had a number of consequences for the global political economy. First, it has led to a shift in the global balance of power. China is now a major player in global affairs, and its policies have a significant impact on the world economy and security.

Second, China's rise has led to increased competition between the United States and China. The two countries are now competing for economic and political influence in the Asia-Pacific region and beyond. This competition has the potential to lead to conflict, but it could also lead to a more balanced and stable global order.

Third, China's rise has led to a number of challenges for global governance. The existing international institutions were not designed to deal with a rising China, and there is now a need to reform these institutions to make them more effective in addressing global challenges.

The rise of China is a major development that is likely to have a profound impact on the global political economy for years to come. China's economic growth, foreign policy, and global governance initiatives will all be key factors in shaping the future of the world economy and security.

Challenges to China's Global Political Economy

China's rise in the global political economy is not without its challenges. The country faces a number of challenges, both domestic and international, that could potentially derail its progress.

Domestic challenges

Economic inequality: China's rapid economic growth has led to increased economic inequality. The gap between the rich and the poor is growing wider, and this could lead to social unrest.
Environmental degradation: China's economic growth has also come at a high environmental cost. The country's air and water pollution are among the worst in the world, and this could lead to health problems and other negative consequences.
Political repression: China's government is authoritarian, and it has been cracking down on dissent in recent years. This could lead to a loss of public support and make it difficult for the government to implement reforms.

International challenges

Trade tensions: China's trade surplus with the United States has led to trade tensions between the two countries. The Trump administration has imposed tariffs on Chinese goods, and China has retaliated with tariffs of its own. This could lead to a trade war that could harm both economies.
Territorial disputes: China has a number of territorial disputes with its neighbors, including Japan, the Philippines, and Vietnam. These disputes could lead to conflict, which could destabilize the region and harm China's economy.
Climate change: China is a major contributor to climate change, and it is facing a number of challenges in reducing its greenhouse gas emissions. Climate change could have a devastating impact on China's economy and its people.

China's leaders are aware of these challenges, and they are taking steps to address them. However, it is unclear whether China will be able to overcome these challenges and continue its rise in the global political economy.

China's rise in the global political economy is a major development that is likely to have a profound impact on the world for years to come. China's economic growth, foreign policy, and global governance initiatives will all be key factors in shaping the future of the world economy and security.

However, China also faces a number of challenges, both domestic and international. It is unclear whether China will be able to overcome these challenges and continue its rise in the global political economy.

China's Global Political Economy: Managerial Perspectives (Routledge Studies on Comparative Asian Politics)

5 out of 5