21. Bad Debts: Assessing China's Financial Influence in Great Power Politics
- Author:
- Daniel W. Drezner
- Publication Date:
- 10-2009
- Content Type:
- Journal Article
- Journal:
- International Security
- Institution:
- Belfer Center for Science and International Affairs, Harvard University
- Abstract:
- China has challenged the United States on multiple policy fronts since the beginning of 2009. On the security dimension, Chinese ships have engaged in multiple skirmishes with U.S. surveillance vessels in an effort to hinder American efforts to collect naval intelligence. China has also pressed the United States on the economic policy front. Prime Minister Wen Jiabao told reporters that he was concerned about China's investments in the United States: “We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” The head of the People's Bank of China, Zhou Xiaochuan, followed up with a white paper suggesting a shift away from the dollar as the world's reserve currency. China's government has issued repeated calls for a greater voice in the International Monetary Fund (IMF) and World Bank. To bolster this call, Beijing helped to organize a summit of the leaders of Brazil, Russia, India, and China (BRIC) to better articulate this message.
- Topic:
- Security, Debt, Government, and Intelligence
- Political Geography:
- Russia, United States, China, India, and Brazil