Clash of Powers
Subtitle: US-China Rivalry in Global Trade Governance
Publisher: University of Cambridge ESOL Examinations
Published: 2020
Language: eng
Number of pages: 200
ISBN-13: 9781108819862
Subjects: Commerce
Description: "This book analyzes the impact of a rising China on global trade governance. There is considerable debate about the extent and significance of China's rise. Are we in the process of a hegemonic transition, or does the US maintain its dominance? Can the existing US-led system of global economic governance adapt to the rise of China? I argue that regardless of whether or not China will ever overtake the US as hegemon, the rise of China has already proven highly destabilizing for the system of global trade governance created under US hegemony. Even if the US maintains a preponderance of power in the international system, its capacity to direct and steer global trade governance - which until now has been a defining feature of its hegemony - has been severely diminished. China's ascent has substantially weakened American control over the institutions and rules governing global trade. The US and China are engaged in a battle to set the rules of global economic competition; each wants its own interests and preferences to be inscribed in the institutions and laws governing global trade. As this book shows, the growing rivalry between these two dominant powers has paralyzed global trade governance and rule-making"--