Contesting China’s Developing Country Status: Geoeconomics and the Public–Private Divide in Global Economic Governance

Abstract

Abstract The geopolitical rise of emerging economies has led to contestations and renegotiations of the boundaries of the developing country status. Established powers put pressure on emerging economies to give up this status and the benefits it comes with in global regimes. In this article, we analyse the (re)negotiation of China’s developing country status within the context of US–China geoeconomic competition with respect to two core areas in the global economy—finance and trade. We show that whether private or public actors are responsible for status classification influences the outcomes of contestation over China’s status. When private sector actors are central, China is more likely able to defend its developing country status against US pressure. We also find that these processes are mitigated by how decision-making processes are institutionalised. Our two case studies thus illustrate that regulatory processes such as status classification influence the outcomes of geoeconomic competition in international politics. These findings also shed new light on the power of states versus non-state actors within global governance amidst the geoeconomic turn: the public–private divide can serve as an important context factor that influences the probability of the international economic order to cater more towards US or Chinese geoeconomic strategies.