The Political Economy of China’s Rising Role in the Asia-Pacific Economic Cooperation (APEC): Strategies and Instruments of the Chinese Way

Abstract

Established in 1989 as an economic forum, APEC has become an important regional organization contributing to the promotion of not only economic but also political and security cooperation among countries and territories in the region. Given the great role of APEC, China has actively participated in the forum and today has become a major player with so-called Chinese approaches. The paper points out China’s purposes and intentions with Chinese way, especially under the attack of Covid-19 that has led to strategic adjustments in APEC. Politically, with APEC as an arena, China aims to restore and expand its sphere of influence in the region, hedge against the US and challenge to change the global governance system. Economically, through APEC’s mechanism, China wants to promote trade liberalization and hence facilitate its domestic economic reforms to soon become the number one power in the world. Moreover, the paper also outlines opportunities and challenges that China would face in APEC. It will also concern China’s advantages and barricades on its political regime as a powerful central authoritarian state, China’s role and position in the dynamic economic region, its trade and territorial disputes with neighboring countries in APEC, and the questions of APEC’s effectiveness