China and Global Governance

Abstract

China's development has enormous implications for how the world is governed. The sheer size of the country means the effect of its activities inevitably spills over its borders. Beyond that, there is evidence that the Chinese government has taken an active role in a number of policy areas to defend China's expanding national interest and to strengthen its status in the world. As China's economy and its political ambition continue to grow, so will its influence around the world. In this article, we examine Chinese views and practices with regard to governance. We also discuss the major factors that will shape the future of China's involvement in governance. Key words: China, governance, finance, Chinese foreign policy, international system Introduction Global is a vague and amorphous concept. Broadly speaking it refers to the complex of institutions and processes that govern how things happen in the world. In its origin, global governance was intended to express something that could be distinguished from global i.e., a legitimate authoritative organized power (as yet nonexistent) governing the world.1 Compared to a government, refers to something less permanently established, more fluid, something continually in process of being constructed and reconstructed. Global governance, as it is commonly understood today, has three distinctive features. First, the term highlights the scale of many of the world's pressing issues, such as economic interdependence, migration, financial crises, drug trafficking, environmental degradation, and various health pandemics. Second, it emphasizes that while governments continue to perform important functions, non-state entities have become significant actors in making demands, framing goals, issuing directives, and pursuing policies, thus shaping how the world is governed. Third, it presumes the validity of a number of norms of good governance rooted in Western experience, such as market competition, human rights, democracy, transparency, accountability, and rule of law. While the idea of a world government has lost its appeal, the notion of has gained a great deal of currency in recent years. The development of China's economy has enormous implications for how the world is governed. The sheer size of the country means the effect of its activities inevitably spills over its borders. For instance, China's rise as a trading power has begun to reshape the rules and practices of world trade. Its rapidly growing consumption of energy and raw materials is changing prices and access to these resources. And the worsening of pollution and ecological degradation in China has a profound impact on the environment. Beyond these unintended spillover effects of China's economic development, there is evidence that the Chinese government has taken an active role in a number of policy areas to defend China's expanding national interest and to strengthen its influence in the world. China's position on controversial issues, ranging from human rights to climate change, shows a readiness to purposefully shape according to China's own preferences. As China's economy continues to grow and as its political ambition continues to develop, so will its influence around the world. What role will China play in governance? In this article, we seek to shed some light on this question by examining Chinese views and practices with regard to governance. As a background, we briefly review the changing relationship between China and the international system. Next, we analyze Chinese views of the concept of governance. The following section examines China's conception of its role in and its recent policy initiatives regarding the finance. In the conclusion, we briefly discuss the factors that will shape the future of China's involvement in governance. …