International Institutions, Institutional Balancing, and Peaceful Order Transition

Abstract

AbstractAs part of the roundtable “International Institutions and Peaceful Change,” this essay focuses on the “Kindleberger trap,” a term coined by Joseph Nye Jr. referring to the situation in which no country takes the lead to maintain international institutions in the international system. President Trump's destructive policies toward many international institutions seem to push the current international order to the brink of the Kindleberger trap. Ironically, China has pledged, at least rhetorically, to support and even save these existing international institutions. Based on an institutional-balancing perspective, we suggest that the worry about the Kindleberger trap is unwarranted because the international institutional order will not easily collapse after the decline of U.S. hegemony. Institutional competition among great powers and institutional changes within the institutional order have become two remedies to maintain international institutions and to avoid the Kindleberger trap during the international order transition. What states, including the United States and China, should do is to reembrace and reinvigorate the role of multilateralism in world politics so that the dynamics of institutional balancing and consequential institutional changes in the context of U.S.-China competition do not deprive international society of the public goods and normative values of international institutions. The future international order should not be led by a single country, but by dynamic and balanced international institutions.