The Quest for Global Leadership
U.S.-China Competition in Multilateral Financial Institutions
Bibliographic Data
| ID | 13102902 |
|---|---|
| Authors | Devesh Kapur (Centre for Advanced Study, corresponding author) |
| Year | 2017 |
| Volume | 03 |
| Issue | 02 |
| Pages | 243-265 |
| Publication date | 2017-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | China Quarterly of International Strategic Studies (JOURNAL) |
| Journal identifiers | ISSN: 2377-7400 • E-ISSN: 2377-7419 |
| Publisher | World Scientific (PUBLISHER • SG) |
| DOI | 10.1142/s2377740017500154 |
| OpenAlex | W2737821367 |
| Language | EN |
| Citations received | 3 |
As China emerges as a global power, it has showed great willingness to remake global development finance by setting up new multilateral financial institutions. The creation of those new institutions represents a marked departure from the existing multilateral development bank (MDB) system. For the first time, the new institutions do not depend on the financial largess of the West. To understand the circumstances that have led China to create these new institutions and the likely consequences, the article first examines the Bretton Woods institutional architecture that was created by the United States when it emerged as the principal global economic superpower in the aftermath of World War II. In the second part, it analyzes the competition between China and the United States in global financial governance given Beijing’s expanding interests and Washington’s declining influence. The article further explores in the third section new opportunities and challenges that the new financial institutions could bring to China, and finally proposes how China could better leverage those new institutions to play a transformative role in promoting its global leadership
Beijing · China · Competition (biology · Corporate governance · Economic power · Economics · Financial crisis · Global governance · Global Leadership · Great power · International trade · Leverage (statistics · Multilateralism · Political science · Politics · Public relations · Sociology · Superpower · Transformative learning · International Development and Aid · State Capitalism and Financial Governance · Finance
| Unique citing works | 3 |
|---|---|
| Citations per year | 0.38 |
| Citation span | 2018 - 2026 (9) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 3 |