On the Way to Global Leadership: Recent Shifts in China's Geo-economic Power -

Article

Open Access

by Igor Piliaiev¹
¹ Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine (Kyiv, Ukraine)
DOI: https://doi.org/10.29202/up/8/9
Received: 20 March 2021 / Accepted: 2 May 2021 / Published: 29 May 2021

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Abstract

Formally, regional or bilateral public institutions and instruments of business cooperation with China ‘s crucial role (the Asian Infrastructure Investment Bank, the Regional Comprehensive Economic Partnership, the agreed bilateral investment pact with the EU, China ‘s bilateral free trade agreements, etc.) have an ever-increasing global impact. That, against the backdrop of China ‘s and other Confucian countries ‘ undeniable successes in the fight against the coronavirus pandemic, has led to systemic shifts in the global leadership architecture and the political consciousness of the West. As a rising superpower, China effectively applies a network of institutional platforms for informal multilateral intergovernmental, primarily financial and economic, policy coordination at a global level. Given the EU and post-Brexit Britain ‘s intensive efforts to adapt to China ‘s growing global impact and the Chinainfluenced institutional framework, the US ‘ strategic concept of the Indo-Pacific for containing Beijing seems problematic to implement without multiplying the resource support of the concept.

Keywords: global leadership, China, AIIB, RCEP, the Indo-Pacific region

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Piliaiev, Igor (2021) On the Way to Global Leadership: Recent Shifts in China ‘s Geoeconomic Power. Ukrainian Policymaker, Volume 8, 89-101. https://doi.org/10.29202/up/8/9

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