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  • Author: Wendy Dobson
  • Publication Date: 02-2016
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper reviews Indonesia’s economic prospects and what these imply for a closer relationship with Canada. By posing the question “Is Indonesia the next China?,” the author suggests that Indonesia has the considerable economic potential envisaged by foreign investors, but conveys uncertainty as to whether Southeast Asia’s most populous country can make the changes necessary to realize that potential. A review of the economic record and comparison of China’s and Indonesia’s economic structures, endowments and institutions show major differences between the two countries. The paper further questions what it will take to realize Indonesia’s potential, finding the answers to be: human capital development; increased participation in the region’s global value chains; meeting the growing middle-class demand for modern services; raising productivity in agriculture and fishing; and increasing use of the Internet. Failure to make these changes will increase the chances of Indonesia’s growth in per capita incomes slowing and falling into the middle-income trap. Canada’s role will be to monitor closely how Indonesia tackles its five priorities at the same time as it responds to the opportunities to exploit Indonesia’s abundant natural resources, urbanization and its expanding consumer demand for modern services and educational opportunities.
  • Topic: Economics, Emerging Markets, Human Welfare, International Trade and Finance, Natural Resources, Regulation
  • Political Geography: China, Indonesia
  • Author: Saori N. Katada
  • Publication Date: 05-2016
  • Content Type: Working Paper
  • Institution: East-West Center
  • Abstract: In 2015, two mega-initiatives took shape that will affect economic relations in the Asia-Pacific region: the US-promoted Trans-Pacific Partnership (TPP) trade agreement and the China-led Asian Infrastructure Investment Bank (AIIB). Although they address different needs, both are expected to have profound effects on Asia's economic governance in the near future, and will shape economic norms in the Asia Pacific and beyond. Japan has joined the TPP but stayed out of the AIIB, decisions that might seem counterintuitive considering its history of resisting trade liberalization and of promoting infrastructure investment. Is Japan simply favoring its US ally over rival China? Or is it that Japan's position on the TPP and AIIB aligns with its own economic priorities, and enhances its geo-economic advantage? With a US-China competition over economic ideas and regional strategies, Japan occupies a unique position that may allow it to influence the direction of Asia-Pacific economic governance, which is now being battled out by the two "titans."
  • Topic: Economics, International Trade and Finance, Political Economy, Treaties and Agreements
  • Political Geography: China, Asia
  • Author: Robert M. Orr
  • Publication Date: 04-2016
  • Content Type: Working Paper
  • Institution: Council of American Ambassadors
  • Abstract: In the past two years, the creation of the Chinese-sponsored Asian Infrastructure Investment Bank (AIIB) has caused considerable attention in many capitals, particularly in Washington and Tokyo. Some view the establishment of the AIIB as a challenge to the supremacy of the post-World War II Bretton Woods order. Others see it as another symbol of shifting regional power in Asia. Some have deep concerns about the AIIB’s willingness to adhere to international safeguards and open procurement.
  • Topic: International Trade and Finance
  • Political Geography: United States, Japan, China, Asia-Pacific
  • Author: Luke Patey, Michal Meidan
  • Publication Date: 11-2016
  • Content Type: Working Paper
  • Institution: Danish Institute for International Studies
  • Abstract: The size and sophistication of Chinese foreign investment is on the rise. In 2014, inbound investment to China was outpaced by outbound investment for the first time. Chinese foreign investment has surpassed the $100 billion mark for the past three years, making China the third largest overseas investor. At the same time, beyond oil and gas, which dominated headlines over the past decade, Chinese state-owned enterprises and private corporations are making multi-billion dollar investments in construction, telecommunications, nuclear, and high-tech across the globe. What political and security implications do these new investment have for host government in North America and Europe? What is the view point of Beijing towards the growing reach of its corporations overseas? A new policy brief by Michal Meidan, research associate at Chatham House and Asia Analyst at Energy Aspects, and DIIS senior researcher Luke Patey explores these questions.
  • Topic: Globalization, International Political Economy, International Trade and Finance
  • Political Geography: China, Global Focus
  • Author: Choi Nakgyoon
  • Publication Date: 12-2016
  • Content Type: Working Paper
  • Institution: Korea Institute for International Economic Policy (KIEP)
  • Abstract: This paper studied the effects of anti-dumping measures on the imports to investigate whether the trade restriction effect of an anti-dumping duty is dominant in the US, the EU, China, and India from 1996 to 2015. Our results indicate that a 1% increase in the anti-dumping duties decreases the import of the targeted product by about 0.43~0.51%. The actual statistics, however, show that the total import of the targeted products increased by about 30 percent while an anti-dumping duty was in force. That indicates that an anti-dumping duty is just a temporary import relief. This paper also investigated whether an anti-dumping duty is terminated in the case that the injury would not be likely to continue or recur if the duty were removed. The increase in market share, MFN tariff rate, and dumping margin turns out to decrease the hazard of termination of an anti-dumping duty, but the increase in value added increases the hazard of termination. Generally speaking, this result indicates that the WTO member countries have regulated the overuse of an anti-dumping measure. It also implies that anti-dumping duties have been used as a tool for trade remedy.
  • Topic: International Political Economy, International Trade and Finance
  • Political Geography: China
  • Author: Anthony H. Cordesman, Steven Colley
  • Publication Date: 09-2015
  • Content Type: Working Paper
  • Institution: Center for Strategic and International Studies
  • Abstract: China’s emergence as a global economic superpower and as a major regional military power in Asia and the Pacific, has had a major impact on its relations with the United States and its neighbors. China was the driving factor in the new strategy the United States announced in 2012 that called for the U.S. to “rebalance” its forces to Asia-Pacific region. At the same time, China’s actions on its borders, in the East China Sea, and in the South China Sea have shown that China is steadily expanding its geopolitical role in the Pacific, and having a steadily increasing impact on the strategy and military developments in other Asian powers. As a result, the People’s Republic of China (PRC), the United States, and China’s neighbors face a critical need to improve their understanding of how each state in the region is developing its military power, and find ways to avoid the kind of military competition that could lead to rising tension or conflict.
  • Topic: Arms Control and Proliferation, Industrial Policy, International Trade and Finance, Power Politics
  • Political Geography: China, East Asia
  • Author: Robert D. Blackwill, Henry A. Kissinger, Ashley J. Tellis
  • Publication Date: 04-2015
  • Content Type: Working Paper
  • Institution: Council on Foreign Relations
  • Abstract: "China represents and will remain the most significant competitor to the United States for decades to come. As such, the need for a more coherent U.S. response to increasing Chinese power is long overdue," write CFR Senior Fellow Robert D. Blackwill and Carnegie Endowment for International Peace Senior Associate Ashley J. Tellis in a new Council Special Report, Revising U.S. Grand Strategy Toward China. "Because the American effort to 'integrate' China into the liberal international order has now generated new threats to U.S. primacy in Asia—and could result in a consequential challenge to American power globally—Washington needs a new grand strategy toward China that centers on balancing the rise of Chinese power rather than continuing to assist its ascendancy." The authors argue that such a strategy is designed to limit the dangers that China's geoeconomic and military power pose to U.S. national interests in Asia and globally, even as the United States and its allies maintain diplomatic and economic interactions with China.
  • Topic: Foreign Policy, Defense Policy, Diplomacy, International Trade and Finance
  • Political Geography: China
  • Publication Date: 10-2015
  • Content Type: Working Paper
  • Institution: Economist Intelligence Unit
  • Abstract: After the plunge in commodity prices in 2015, the outlook for raw materials remains highly uncertain amid slowing economic growth in China and looming interest rate rises in the US. In China—which gobbles up nearly one-half of the world’s consumption of aluminium, copper and coal—demand for base materials risks moderating further as the economy moves away from an investment-driven growth model. This will continue to have knock-on effects on the performance of commodity-exporting economies, weighing down on global consumption of raw materials. However, supply responses are beginning to emerge from commodity producers worldwide. Coupled with less favourable weather prospects, this will lead to some market tightening next year, allowing for some price stabilisation after four years of decline. This report provides a snapshot of The Economist Intelligence Unit’s current commodity price indexes, exploring the changing prices for industrial raw materials and food, feedstuffs & beverages. Each article provides analysis and forecasts across a number of key commodities, helping you to assess the fast-changing environment of commodity markets and influence key decision-making processes.
  • Topic: Economics, Emerging Markets, Industrial Policy, International Trade and Finance, Monetary Policy
  • Political Geography: China
  • Author: Daniele Fattibene
  • Publication Date: 11-2015
  • Content Type: Working Paper
  • Institution: Istituto Affari Internazionali
  • Abstract: Russia’s “pivot to Asia” has come to the fore in the wake of the crisis over Ukraine. Growing tensions with the West over the common neighbourhood, coupled with economic sanctions, have accelerated this trend, with China gaining in strength as both an economic and military partner to Moscow. The Kremlin’s propaganda has sought to convince the broader public that Russia’s strategies in Eastern Europe, Central Asia and the Arctic region are a complement to China’s new Silk Road Economic Belt. Nonetheless, behind the headlines huge potential problems jeopardise the emergence of a durable Sino-Russian consensus in Eurasia. Against this backdrop, the EU should opt for “strategic patience.” This would be a far more effective policy choice than finger pointing, which only deepens the mutual ideological clash between the EU and Russia.
  • Topic: Diplomacy, Economics, International Trade and Finance, Bilateral Relations, Sanctions
  • Political Geography: Russia, China, Asia
  • Publication Identifier: 978-88-98650-69-9
  • Publication Identifier Type: DOI
  • Author: Nicola Casarini
  • Publication Date: 10-2015
  • Content Type: Working Paper
  • Institution: Istituto Affari Internazionali
  • Abstract: With the One Belt One Road (OBOR), arguably Beijing’s major diplomatic outreach in decades, a process towards greater Sino-European connectivity has been put in place. The implementation of the OBOR in Europe has focused so far on financing infrastructure projects, in particular railways in Southeast Europe and ports in the Mediterranean Sea. This has been complemented by growing monetary linkages between the People’s Bank of China and European central banks through the establishment of currency swap agreements and yuan bank clearing – so-called “offshore renminbi hubs” – with the aim of lowering transaction costs of Chinese investment and bolstering the use of the Chinese currency. While there are undoubtedly great economic opportunities, China’s OBOR initiative also presents the EU with a major political challenge. There is the risk, in fact, that a scramble for Chinese money could further divide EU member states and make it difficult for Brussels to fashion a common position vis-à-vis Beijing. Furthermore, China’s economic penetration into Europe may lead – if not properly managed – to a populist backlash as well as a strain in relations with Washington. All these elements should be taken into consideration by EU policymakers, as China’s OBOR makes inroads into the Old Continent.
  • Topic: Development, International Trade and Finance, Bilateral Relations, Infrastructure
  • Political Geography: China, Europe
  • Publication Identifier: 978-88-98650-64-4
  • Publication Identifier Type: DOI
  • Author: Tristram Sainsbury
  • Publication Date: 10-2015
  • Content Type: Working Paper
  • Institution: Lowy Institute for International Policy
  • Abstract: The G20 engagement groups represent a cross-section of society at the G20. They have an important role in publicly holding the G20 to account, assessing the forum’s performance, and contributing to the G20 agenda. The groups have differing agendas and vastly different priorities ahead of the Antalya Leaders’ Summit in November. However, there are some areas of overlap, such as calls from several groups for G20 leaders to respond to the Syrian refugee crisis and be more active in addressing gender inequality. Open and effective outreach to broader society should be an important priority of the 2016 Chinese G20 Presidency. China should look to improve the efficiency of the engagement processes in 2016, so that engagement groups are more focused on recommending fewer, but more pragmatic and high-impact policy solutions.
  • Topic: Foreign Policy, Diplomacy, International Cooperation, International Organization, International Trade and Finance
  • Political Geography: China
  • Publication Date: 01-2015
  • Content Type: Working Paper
  • Institution: East-West Center
  • Abstract: China, the world's leading exporter of electronic products, faces a fundamental dilemma. It is the largest and fastest-growing market for semiconductors, the core component of those electronics products. Yet, at least 80 percent of the semiconductors used in China's electronics products must be imported. As a result, China's trade deficit in semiconductors has more than doubled since 2005 and now exceeds the huge amount it spends on crude oil imports. To correct this unsustainable imbalance, China's new strategy to upgrade its semiconductor industry seeks to move from catching up to forging ahead in semiconductors. The strategy calls for simultaneously strengthening advanced manufacturing and innovation capabilities in China's integrated circuit (IC) design industry and its domestic IC fabrication, primarily through foundry services. Drawing on policy documents and interviews with China-based industry experts, this study takes a close look at the objectives, strategy, and implementation policies of China's new push in semiconductors and examines what this implies for China's prospects in this industry. The study shows that China's new policy resorts to private equity investment rather than subsidy as the tool of industrial policy. The government participates in equity investment and claims it will do so without intervening in management decisions. This policy is expected to reduce the cost of investment funds for a selected group of firms, which is to form a "national team" in the semiconductor industry. China's new policy to upgrade its semiconductor industry through innovation does not represent a radical break with its deeply embedded statist tradition. Within these boundaries, however, the study detects important changes in the direction of a bottom-up, market-led approach to industrial policy. In response to the rising complexity and uncertainty of today's semiconductor industry, the government seems more open to experimentation with new approaches to investment finance and flexible, bottom-up policy implementation, based on multilayered industrial dialogues with private firms. China's policies to forge ahead in semiconductors, thus, provide an interesting example of its current efforts to move from investment-driven catching up to an innovation-driven development model.
  • Topic: Economics, International Trade and Finance, Oil, Science and Technology, Financial Markets
  • Political Geography: China
  • Author: Roman Muzalevsky
  • Publication Date: 07-2015
  • Content Type: Working Paper
  • Institution: The Strategic Studies Institute of the U.S. Army War College
  • Abstract: China’s emergence as a global actor has questioned the position of the United States as the strongest power and the future of the Washington-led global order. To achieve the status of a truly global player wielding influence in all dimensions of power would require China to leverage its regional influence in Central Asia. This region is increasingly representing China’s western leg of economic expansion and development, and is of a growing strategic importance for Beijing. It is also a region that should be of greater strategic importance to Washington, which seeks to preserve its leading position in the international system and ensure China’s peaceful integration in the global political, security, and economic architecture.
  • Topic: Economics, International Cooperation, International Trade and Finance, Hegemony, Global Markets, Global Security
  • Political Geography: China, Eurasia, Asia
  • Author: Derek M. Scissors
  • Publication Date: 02-2014
  • Content Type: Working Paper
  • Institution: American Enterprise Institute for Public Policy Research
  • Abstract: Reactions to the Chinese Communist Party's announcement of major economic reforms in November have ranged from unbridled optimism to skepticism about the party's ability to implement sweeping change. In fact, the reforms themselves are flawed in multiple ways-most are inauthentic, uncredible, or nonviable. However, the areas of land and finance offer more limited prospects for true reform. The primary means of judging reform progress should be progress in reducing excess capacity. The most likely outcome is that the party will claim success but the economy will slowly stagnate, harming China's partners.
  • Topic: Economics, International Trade and Finance, Reform
  • Political Geography: China, East Asia
  • Author: Timmons Roberts, Guy Edwards
  • Publication Date: 03-2014
  • Content Type: Working Paper
  • Institution: The Brookings Institution
  • Abstract: China's rapidly increasing investment, trade and loans in Latin America may be entrenching high-carbon development pathways in the region, a trend scarcely mentioned in policy circles. High-carbon activities include the extraction of fossil fuels and other natural resources, expansion of large-scale agriculture and the energy-intensive stages of processing natural resources into intermediate goods. This paper addresses three examples, including Chinese investments in Venezuela's oil sector and a Costa Rican oil refinery, and Chinese investment in and purchases of Brazilian soybeans. We pose the question of whether there is a tie between China's role in opening up vast resources in Latin America and the way those nations make national climate policy and how they behave at the United Nations Framework Convention on Climate Change (UNFCCC) negotiations. We focus on the period between the 2009 Copenhagen round of negotiations and the run-up to the Paris negotiations scheduled for 2015, when the UNFCCC will attempt to finalize a successor agreement to the Kyoto Protocol.
  • Topic: Agriculture, Development, International Trade and Finance, Oil, Natural Resources, Foreign Direct Investment
  • Political Geography: China, Latin America
  • Author: Chris Alden
  • Publication Date: 03-2014
  • Content Type: Working Paper
  • Institution: Norwegian Peacebuilding Resource Centre
  • Abstract: China is on course to becoming more deeply involved in Africa's security landscape. While the motivation behind Chinese involvement remains primarily economic, the growing exposure of its interests to the vagaries of African politics, as well as pressures to demonstrate greater global activism, are bringing about a reconsideration of Beijing's approach to the continent. China faces threats on three fronts to its standing in Africa: reputational risks derived from its assocation with certain governments; risks to its business interests posed by mecurial leaders and weak regulatory regimes; and risks faced by its citizens operating in unstable African environments. Addressing these concerns poses challenges for Beijing, whose desire to play a larger role in security often clashes with the complexities of doing so while preserving Chinese foreign policy principles and economic interests on the continent.
  • Topic: Economics, Human Rights, International Trade and Finance, Bilateral Relations
  • Political Geography: Africa, China, Asia
  • Author: Daniel H. Rosen, Thilo Hanemann
  • Publication Date: 04-2014
  • Content Type: Working Paper
  • Institution: Asia Society
  • Abstract: WHILE CHINA STARTED INVESTING AROUND THE WORLD in the early 2000s, the first waves of Chinese overseas investment targeted mostly extractive mining activities in developing countries and resource-rich advanced economies such as Australia and Canada. Over the past five years, however, Chinese capital has begun to flow into non-extractive sectors in advanced economies, increasingly targeting technology- and innovation-intensive industries. Initially, the surge of Chinese outward foreign direct investment (OFDI) in the United States largely responded to opportunities in energy and real estate, but access to technology and innovation is now becoming an important driver. In the first quarter of 2014 alone, Chinese investors announced high-tech deals worth more than $6 billion, including the takeovers of Motorola Mobility, IBM's x86 server unit, and electric carmaker Fisker.
  • Topic: Economics, International Trade and Finance, Foreign Direct Investment
  • Political Geography: China, America, Canada, Asia, Australia
  • Author: Shuja Nawaz, Mohan Guruswamy
  • Publication Date: 04-2014
  • Content Type: Working Paper
  • Institution: Atlantic Council
  • Abstract: India and Pakistan, born out of a single British-ruled entity in 1947, have continued an implacable rivalry marked by periodic wars and hostilities as well as through proxies. This unending conflict has led them to invest heavily in their militaries and even to choose nuclear weaponry as a deterrence on the part of Pakistan toward India and on India's part toward both Pakistan and China. Although there have been occasional moves toward confidence building measures and most recently toward more open borders for trade, deep mistrust and suspicion mark this sibling rivalry. Their mutual fears have fuelled an arms race, even though increasingly civil society actors now appear to favor rapprochement and some sort of an entente. The question is whether these new trends will help diminish the military spending on both sides.
  • Topic: Security, Foreign Policy, Economics, International Trade and Finance, Reform
  • Political Geography: Pakistan, China, India, Asia, Southeast Asia
  • Author: Aaron Shull
  • Publication Date: 06-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Examining global cybercrime as solely a legal issue misses an important facet of the problem. Understanding the applicable legal rules, both domestically and internationally, is important. However, major state actors are using concerted efforts to engage in nefarious cyber activities with the intention of advancing their economic and geostrategic interests. This attempt to advance a narrow set of economic interests through cybercrime and economic cyber espionage holds to the potential to erode the trust in the digital economy that has been a necessary condition for the success of the Internet as an economic engine for innovation and growth. By pursuing these efforts, states are prioritizing short-term interests over long-term stability and a responsibly governed, safe and secure Internet platform. This paper explores the recent unsealing of a 31-count indictment against five Chinese government officials and a significant cyber breach, perpetrated by Chinese actors against Western oil, energy and petrochemical companies. The paper concludes by noting that increased cooperation among governments is necessary, but unlikely to occur as long as the discourse surrounding cybercrime remains so heavily politicized and securitized. If governments coalesced around the notion of trying to prevent the long-term degradation of trust in the online economy, they may profitably advance the dialogue away from mutual suspicion and toward mutual cooperation.
  • Topic: Defense Policy, Crime, International Trade and Finance, Terrorism, Bilateral Relations
  • Political Geography: United States, China, Asia
  • Author: Wenhua Shan, Lu Wang
  • Publication Date: 08-2014
  • Content Type: Working Paper
  • Institution: Columbia Center on Sustainable Investment
  • Abstract: Since China and the European Union (EU) announced their decision to negotiate a bilateral investment treaty (BIT) at the 14th China-EU Summit in February 2012, the two sides have engaged in two rounds of negotiations. If successful, it will be the first standalone EU BIT, a BIT between the world's largest developed economy and the world's largest developing economy, and will occupy a unique place in the history of BIT negotiations.
  • Topic: Economics, International Trade and Finance, Bilateral Relations, Foreign Direct Investment
  • Political Geography: China, Europe, Asia
  • Author: Derek M. Scissors
  • Publication Date: 07-2014
  • Content Type: Working Paper
  • Institution: American Enterprise Institute for Public Policy Research
  • Abstract: Chinese foreign investment declined through mid-2014 for the first time since the financial crisis. By sector, energy draws the most investment, but a slump in energy spending means that metals and real estate have been more prominent so far in 2014. The United States has received the most Chinese investment since 2005, followed by Australia, Canada, and Brazil. China invests first in large, resource-rich nations but has also diversified by spending more than $200 billion elsewhere. Chinese investment benefits both China and the recipient nation, but host countries must consider thorny issues like Chinese cyberespionage and subsidies.
  • Topic: Economics, Human Rights, International Trade and Finance, Terrorism, Foreign Direct Investment
  • Political Geography: United States, China, Canada, Asia, Brazil, Australia
  • Author: Daniel H. Rosen
  • Publication Date: 10-2014
  • Content Type: Working Paper
  • Institution: Atlantic Council
  • Abstract: PRESIDENT XI JINPING ANNOUNCED a sweeping overhaul for China's economy in November 2013, with pledges to make market forces decisive, treat homegrown and foreign investors with the same laws and regulations, and change the mission statement of the government. The reform program, known as the Decisions plan and presented at the Communist Party leadership's Third Plenum meeting, is comprehensive and marks a turning point in China's modern history. The degree of boldness also indicates that after 35 years of world-beating economic performance, China's development model is obsolete and in need of urgent, not gradual, replacement. To justify the risks, President Xi quoted an impassioned plea for policy modernization by his predecessor Deng Xiaoping: the only way to avoid a dead end – a blind alley – is to deepen reform and opening both at home and with the world.
  • Topic: Economics, International Trade and Finance, Political Economy, Reform
  • Political Geography: China
  • Author: John Whalley, Hejing Chen
  • Publication Date: 10-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: China, in the next few years, faces the prospect of major regional and bilateral trade negotiations possibly including the Trans-Pacific Partnership (TPP), the Regional Comprehensive Economic Partnership with the Association of Southeast Asian Nations (ASEAN) and Japan, Korea, India, Australia and New Zealand and separate negotiations with India, Korea and Japan, potentially the United States and even possibly the European Union. A likely key element in such negotiations, and one already raised by the United States in the TPP negotiations, is that of trade arrangements involving state-owned enterprises (SOEs). China is viewed from outside as having a large SOE sector, and large SOEs are viewed as having a protected monopoly position in domestic Chinese markets.
  • Topic: International Trade and Finance, Markets, World Trade Organization
  • Political Geography: Japan, China, Europe, India, Asia, Australia, Korea
  • Author: Alex He
  • Publication Date: 10-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: As the largest emerging economy, China believes that the Group of Twenty (G20), instead of the Group of Eight (G8), is the ideal platform for its participation in global governance. This paper examines the reasons why China joined the G20 rather than the G8, and then focuses on a detailed review of China's participation in G20 summits since the enhanced forum began in 2008. China took a very active and cooperative attitude in dealing with the global financial crisis in 2008-2009. The paper observes that China also insisted on its own agenda for reforms to the international monetary system, through reforms to the international financial institutions that manage it — in particular, raising the number of voting shares and the representation of developing countries at the IMF and the World Bank. Based on the reviews of China's performance in the G20 summits since 2008, the paper explores China's policy making through its participation in the G20, determining that it is shaped by several major economic departments in addition to the Ministry of Foreign Affairs, and coordinated by a vice premier responsible for economic and financial affairs. The paper concludes that China has gained immensely from its participation in the G20. Most importantly, China entered the centre stage of global economic governance through the G20, which allowed the country to demonstrate that it is a responsible great power, and communicate and maintain relations with other major powers. The main challenges China has faced since joining the G20, from the perspective of some Chinese scholars, are a lack of capacity for agenda setting and shaping initiatives, as well as inadequate communication and coordination among different government departments and between the Sherpa and financial tracks of the G20.
  • Topic: Economics, International Political Economy, International Trade and Finance, International Monetary Fund, Global Recession, Financial Crisis, World Bank
  • Political Geography: China
  • Author: Alex He
  • Publication Date: 08-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The G20 has emerged as the lynchpin of China's involvement in global economic governance. It remains the only economic institutional setting where the country can operate on par with major Western powers. China has a strong interest in maintaining the status of the G20 as the premier forum for economic cooperation, and a vested interest in ensuring that the G20 does not degrade into yet another “talk shop” of multilateral diplomacy. However, the Chinese leadership's current approach to the G20 is not driven by a desire to position the country as a leading agenda setter. Instead, China's main policy priority is ensuring that the country is treated as an equal and respected partner. China recognizes that in many ways it is still in a comparatively weak position and does not have the institutional capabilities and talents needed to operate in global financial and economic institutions such as the G20.
  • Topic: Economics, International Cooperation, International Trade and Finance
  • Political Geography: United States, China