Economic forces will therefore exert considerable influence in the newly emerging international situation. In other words, economic factors will become crucial bargaining chips in the political struggle between countries. Since economic factors have become significant, powerful nations now have a third consideration in addition to military prowess and political consequences when they make diplomatic policy or agendas for negotiation. In this regard, the US and China have shown different priorities in their diplomatic strategies. The order of US priorities is that President George W. Bush intends first to formalize the policy of regarding China as a strategic competitor and then maintain US dominance through military alliances.
Economic considerations are apparently secondary to foreign policy.
Meanwhile China, the world's most populous country and one experiencing rapid economic growth, thinks that it should be a major decision-maker in the international arena. In fact, China clearly demonstrated its determination to stand up against the US in the spy plane crisis. The present phase of China's diplomatic policy therefore involves dealing with US hegemony by using the growing Chinese market as its bargaining chip. Consequently, most countries with which China tries to build ties are old friends in the Third World in desperate need of China's financial assistance. What is noteworthy is that, even though China is still the Big Brother of its old friends, they are not united by ideology.