China as an Economic Power in the Contemporary Era of Globalization

Abstract

China's rising profile in world economic affairs is beyond dispute. This article explores several ways to think about China's experience as a latecomer, offering a preliminary assessment of its development trajectory and the evolving nature of its foreign economic relations. In particular, the analysis rejects the view that China is emerging as the hub of a regional economic order in East Asia that is increasingly cohesive and independent vis-à-vis other regions of the world. Alternatively, the article highlights the promise of research that focuses on the role of Chinese economic activity within global commodity chains and how this particular form of cross-border integration affects interdependence among nation-states at multi-continental distances.