12 Challenges Facing the Global Governance Mechanism and China’s Counter-Measures

Abstract

The global governance mechanism, which originated in the United States (US) dominated hegemonic system, has been facing multiple global challenges since the comparative decline of US strength, the rise of emerging countries, and the outbreak of the global financial crisis. In the coming five to ten years, there will be an unprecedented strong demand for global governance reforms in countries across the world. Despite the dilemma that the world's second largest power has often encountered in the power games of international politics, China is still enjoying an important period of strategic opportunities for full participation in global governance. This chapter breaks down the international rules that pertain to China into three categories: the system and rules of current global governance; the system and rules of global governance that are facing or may face major reforms; the new system and rules of global governance that will be of systematic significance. Keywords: China; global financial crisis; global governance mechanism; hegemonic system; international politics; United States (US)