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China and Global
Governance
A New Leader?

Peng Bo
 International Political Economy Series

Series Editor
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Emeritus Professor, University of London, London, UK
The global political economy is in flux as a series of cumulative crises
impacts its organization and governance. The IPE series has tracked its
development in both analysis and structure over the last three decades.
It has always had a concentration on the global South. Now the South
increasingly challenges the North as the centre of development, also
reflected in a growing number of submissions and publications on
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BRICS, rise. NOW INDEXED ON SCOPUS!

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 Peng Bo

China and Global

Governance
A New Leader?
Peng Bo
Institute of World Economics and Politics
Chinese Academy of Social Sciences
Beijing, China

ISSN 2662-2483 ISSN 2662-2491 (electronic)

International Political Economy Series
ISBN 978-3-030-70496-4 ISBN 978-3-030-70497-1 (eBook)
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 Foreword: China’s Global Leadership
Moment

The reemergence of China as a significant world political and economic

actor since the end of the 1970s has been globally hailed as one of
the most important events in modern world history. China has experi-
enced impressive economic growth over the past 40 years, making China
the largest contributor to world economic growth. During the period
850 million people have been lifted out of poverty. China’s economic
reform and integration with the capitalist world economy and its dramatic
socio-economic and socio-political achievements have made the impact
felt worldwide across almost all domains, such as finance, currency, trade,
environmental issues, resource management, food security, raw material,
and commodity prices, etc. As a result, China is increasingly seen as having
the quality of the previous United States as an “indispensable country”.
In recent years the global expansion of Chinese outward investments
and outsourcing, such as the Belt and Road Initiative, has become a
source of major anxiety for the existing Western powers. In addition,
China’s technological advancement in some leading areas and the world-
wide attraction of the Chinese state-led development model are among
the real factors behind the ongoing China–US trade war which has a
strong intention to “restructure” or “remold” the Chinese economic
system and its mode of capital accumulation.
China’s economic rise is causing modifications of the classical strat-
ification of the world economy as conceptualized by world system
theory in terms of core, semi-peripheral, and peripheral relationships. In

v
vi FOREWORD: CHINA’S GLOBAL LEADERSHIP MOMENT

other words, China’s upgrade of its positions toward more sophisticated

production in global supply and value chains is seen as “affecting” and
“disturbing” the power structure of the existing world order. Historically
it has always been a sensitive but crucial issue on the nexus between the
rise of emerging powers and the existing hegemons. And historical lessons
show that rising powers’ position perceived as a status-quo or revisionist
power has been intrinsically in dynamic interactions with various world
order scenarios—disorder, new order, or reorder.
Since the beginning of the new millennium, the existing world order
has been experiencing deep crises in a few essential realms despite Fukuya-
ma’s “end of history” declaration. First of all, multilateralism in the post-
Cold War era of global capitalism and liberal hegemony has been harder
to achieve than liberal internationalists had anticipated. This is to suggest
that global governance has been in a crisis of functionality, and global
powers and international institutions have been unable to reach an agree-
ment over a whole range of issues, such as the coronavirus, terrorism,
energy security, environment protection, trade, nuclear weapons (North
Korea and Iran), and the Middle East peace and stability, democracy, and
human rights, etc. The differences and divergences on these global gover-
nance issues imply that the world order has been undergoing a crisis of
scope. In other words, it is beyond the order’s capacity to live up to the
expectations in providing a secure and just socio-economic and socio-
political order. Consequently, liberal hegemony and the liberal world
order are seen as suffering from a crisis of legitimacy. Finally, as major
shifts are taking place in the global power balance, shifting power from
the existing hegemons to the emerging powers, the world order may be
said to enter into a new era of crisis of authority.
In studying world politics and international relations, the concept of
“hegemony” is an indispensable notion applied to global leading powers
that are able to shape world order and international relations/system. It
denotes a kind of leadership formation in which the construction of an
internal socio-economic and socio-political order, driven by social forces
occupying a dominant position within a nation-state, is projected outward
on a world scale, leading to the shape of the world order. The United
States, after the Second World War, has been seen as the global hegemon
who paved the foundation of the postwar world order. If world order is
defined as the general acceptance of “norms, values, rules and practices”
that are shaped, often imposed, by the hegemonic powers, such as the
West in general and the United States in particular, then it is not difficult
 FOREWORD: CHINA’S GLOBAL LEADERSHIP MOMENT vii

to understand why today the hegemonic powers are watching carefully

how the rising powers, such as China in particular, are influencing the
existing world order and even shaping the direction the new emerging
order is moving to.
China’s global rise is creating the emergence of a new incipient form
of hegemony—“interdependent hegemony.” The concept depicts the fact
that it is no longer viable to think of hegemony based on the domina-
tion of one single power or one universalization of norms and values. It
does not mean that hegemony does not exist. It exists, but in a different
form. Interdependent hegemony implies that the US/West is not able to
single-handedly sustain its historically monopolized structural power in
the areas of security and defense capacity, control of system of production
and goods and services, control of the structure of finance and credit, and
dominance of knowledge and ideas. These areas of structural power are
increasingly intertwined and diversified, which is brought about by the
rise of emerging powers in general, and by China in particular.
Interdependent hegemony denotes a dialectic relationship between
China and the existing US-led world order. China is one of the most
active players supporting globalization and transnational capitalism driven
by the existing hegemons. While China has been benefiting from the
existing world order, its economic success is at the same time chal-
lenging some of the order’s fundamental norms. In other words, China
has been vigorously participating in the US “neoliberal project”, i.e.,
globalization, marketization, and competition, while its state capitalism
has been successfully outperforming free market capitalism through what
Robert Wade calls a “governed market”. China’s success is opening for
multiple alternatives of norm and value regarding what makes nations
develop and succeed as well as the set of mutually dependent relation-
ships between property rights and economic growth, between the rule
of law and market economy, between free currency flow and economic
order, and, most importantly, and between democracy and development.
These alternatives of norm and value are also becoming “intertwined,”
open, less rigid, and non-universal. They are not supposed to be defined
by the existing powers alone. However, although the hegemony of the
existing hegemons is weakening, but the emerging powers, such as China,
have not yet succeeded in producing a unified culture and a new institu-
tional framework for global governance that is politically and ideologically
universal.
viii FOREWORD: CHINA’S GLOBAL LEADERSHIP MOMENT

Today, the world order is facing two sides of the same coin, with one
side revealing the return of “great power rivalry” characterized by conflicts
and wars, and another side showing “interdependent hegemony” charac-
terized by accommodation and integration. The existing and emerging
powers are intertwined in a constant process of shaping and reshaping
the international order in the nexus of national interest, regional orien-
tation, common political agenda, political alliance, and potential conflict.
Much of Western scholarship tends to focus on the debates among the
different schools of international relations in hypothesizing and theorizing
the binary choice faced by both the existing and rising powers: the former
is struggling to assimilate the latter to the existing order, while the latter
is endeavoring to benefit from challenging and changing the system.
Will China ever be able to fulfill Western expectations, whatever these
maybe? Ever since Napoleon warned the world that it would be better not
to wake the “sleeping giant,” China has been both a source of fascination
and disturbance for the West. Early Western missionaries from Europe and
America failed in their efforts of converting China into a Christian-like
continent. In China’s own history and civilization, it was once conquered
and ruled for centuries by its powerful minority groups such as the Mogols
and the Manchus. They tried to change China’s fundamental character,
but later were themselves changed and Sinicized.
In the past decades, either fascination or irritation with China has
always influenced Western scholarship and journalism, which often
produce abrupt sentiment from excessive approval and unqualified opti-
mism to unwarranted revulsion and deep pessimism. There was a hopeful
projection in most years of the 1980s about China’s economic reform as
the “second Chinese revolution” in leading the country into a Western-
like democracy; then there was deep antagonism toward China’s resis-
tance to political democratization in the aftermath of the Cold War; and
in recent years there have recurrently been either exaggerated predictions
of China’s threatening rise to the superpower status or unwarranted fore-
casts on the “the coming collapse of China” or “the endgame of commu-
nist rule in China.” From time to time Western academics, politicians and
opinion-makers selectively use the flux and reflux of China’s development
trajectory to justify their existing theories and ideologies in categorizing
China either as threat, or opportunity, or collapse, or superpower.
For a long time, the West has been struggling for Chinese hearts and
minds. Will China be a destructive or constructive world power? A status-
quo or a revisionist one? A force for continuity or a force for change?
 FOREWORD: CHINA’S GLOBAL LEADERSHIP MOMENT ix

How will China apply its military and economic weight while adhering to
international norms? How to interpret the impact of China’s rise not only
in terms of structural hard power, such as economy, technology, trade,
finance, etc, but also in terms of normative soft power, such as ideas,
culture, thought, value system, scholarship, etc? How can the West under-
stand the kind of international leadership role that China is playing, and
how can the West better comprehend the historical and cultural fabrics
that underpin Chinese foreign policies and behaviors?
In the context of these crucial questions, Peng Bo’s book—China
and Global Governance—A New Leader?—shows a relentless endeavor to
study the relationship between the rise of China and the existing inter-
national order and global governance. One of the book’s unique charac-
ters is the author’s methodological approach—“a China-based interpretive
perspective”—to constructing a conceptual framework of “international
leadership with Chinese characteristics” (ILCC). The conceptual and
analytical framework of the ILCC is built on the combination of a variety
of interconnected components, such as the source of Chinese philosoph-
ical and cultural legacies, the formation of Chinese understanding and
perception of international relations and Chinese contribution to the
process and architecture of global governance.
The innovative contribution of the ILCC framework lies in the author’s
heuristic application of the “relational theory” and its “logic of relation-
ality” concept from which the author redefines the “international lead-
ership” concept (power, interest, and vision). Such a framework helps
readers to understand China’s different international leadership roles, such
as facilitative leadership, constructive leadership, and exemplary leader-
ship, under different situations and in different contexts. Empirically, the
applicability of the ILCC framework is verified by the author, who asso-
ciates China’s international leadership roles with four different situations
and contexts, such as the G20, the BRICS, the Shanghai Cooperation
Organization (SCO), and the Belt and Road initiative (BRI).
The publication of this book is of timely importance. Following its
rapid rise in the past four decades, China now finds itself to be a “middle
kingdom” surrounded by jealousy, admiration, anxiety, worry, and even
resentment. Within the near future both China as the rising power and
the West as the existing power will have to find ways to accommodate
each other. In order to do so both will have to go through a consider-
able period of struggle, adjustment and tension. It seems that the current
x FOREWORD: CHINA’S GLOBAL LEADERSHIP MOMENT

mainstream line of scholarship in the West, both official and intellec-

tual, has been providing the dominant “expert” interpretations regarding
all historical, political, economic, and societal questions presented by
Chinese historical and contemporary evolution and especially its current
international role. The disturbing feature of Western China-scholarship
at present is its tendency of dissolving the so-called mainstream expert
interpretations into general public opinion. Therefore, alternative voices
are both necessary and indispensable. This book represents an integral
part of the ongoing effort, both inside and outside China, to incorporate
“Chineseness” into mainstream international relations (IR) theory.

Li Xing
Professor and Director
Research Center on Development and International Relations
Department of Politics and Society, Aalborg University
Aalborg, Denmark
 Preface

Since the “Opening-up and Reform Project” launched in 1978, China’s

rise has been most clearly manifested in its dramatic economic growth
and its continued integration into the global economy. During the last
decades, China has gained a number of economic and development
achievements: China has lifted 500 million people out of poverty, which
is seen as a “great story in human story” by World Bank; China over-
took the United States to become the world’s biggest energy user in
2009, China’s increasing appetite for energy has significantly influenced
the global commodity price; China surpassed the United States as the
world’s largest manufacturing power in 2010 that makes “Made in China”
a key link in global value chain. In the meanwhile, China became the
world’s largest trading nation in 2013 and it became the biggest over-
seas investor in 2016. More important, in the issue area of international
finance, Chinese Yuan was officially added to the IMF’s Special Drawing
Rights (SDR) basket in 2016.
On the basis of its economic rise, China has increasingly been partic-
ipating in the process of global governance. Against the background of
the great transformation of global power structure and the major crises of
existing global governance, China aspires to play a greater role in global
governance as evidenced by its proactive participation in and reform of
the existing Western-based global institutions. More important, China’s
embrace of global governance can also be detected in its diplomatic focus

xi
xii PREFACE

on multilateralism and its active promotion of newly founded China-led

regional and global multilateral institutions.
Since then, China has actively participated in the building of a number
of regional multilateral groups and organizations, covering the global
governance of security, economy, finance, and development. In the secu-
rity area, China, Russia, and four other Central Asian countries (Kaza-
khstan, Kyrgyzstan, Tajikistan, and Uzbekistan) co-founded the Shanghai
Cooperation Organization (SCO) in 2001, aimed at fighting terrorism
and separatism and reinforcing the regional/global security governance
mechanism; In 2009, in order to jointly cope with the global financial
crisis on the basis of a unified voice from emerging countries, China,
Russia, India, and Brazil transformed the BRIC from a loose economic
concept into a political consortium and a leader-level cooperation mecha-
nism. Since then, the BRICS (with the inclusion of South Africa in 2011)
has become an integral part of global financial governance in which China
has largely contributed to the establishment of the BRICS New Develop-
ment Bank (NDB) and the Contingency Reserve Arrangement (CRA);
in the same year, with the upgrade from G7 to G20 as the most impor-
tant mechanism of global economic governance, China, as the represen-
tative of the developing countries, has become an indispensable player in
the G20 and has gradually participated in the process of agenda setting
and framing of this mechanism; in 2013, China proactively proposed the
“Belt and Road Initiative” (BRI) as a grand framework under which China
launched the Asian Infrastructure Investment Bank (AIIB) and Silk Road
Fund (SRF) as the major financing mechanism for infrastructure construc-
tion. As one of the major driving forces of global development gover-
nance, during the last six years, the China-led BRI has been focusing on
the issue areas of improving connectivity among the concerned countries,
promoting economic cooperation, and reducing poverty, etc.
Under the circumstance of China’s enormous economic growth and its
increasing engagement in multilateral cooperation and global governance,
this book attempts to answer the following questions: how to understand
China as an emerging power? How to interpret China’s leadership role and
its leadership style in global governance? Would China exhibit a unique
type of leadership compared to the traditional Western-based ones? What
are the Chinese cultural and historical thoughts that shape China’s lead-
ership style? What are the implications of China-based leadership on the
process and architecture of global governance? What are the constraints and
 PREFACE xiii

challenges in the relationships between China-based leadership vis-à-vis the

existing world order?
The major objective of the book is to provide some analytical tools
to answer the above questions. One of the key tools—the core contri-
bution of this book—is the concept of “International Leadership with
Chinese Characteristics” (ILCC). This book draws inspiration from a
number of sinicized terms, such as “socialism with Chinese characteris-
tics” and “market economy with Chinese characteristics”, to demonstrate
that ILCC is affecting and even shaping the process and architecture of
global governance.
The book argues that the ILCC is generated on the basis of a variety
of components, such as Chinese political culture, China’s involvement in
and contribution to the process and architecture of global governance,
and China’s understanding and perception of international relations as
well as other countries’ role expectations.
Empirically, the book employs four concrete examples (G20, BRICS,
SCO, and BRI) to verify this newly established concept of ILCC. Specif-
ically, the ILCC is applied by analyzing the interplay between a number
of variables, such as Chinese leaders’ and decision-makers’ speeches and
statements, China’s policymaking and external behavior, and Chinese
think tanks’ understanding and perception of China’s role in global
governance, etc.
Overall, one of the core values of the book is that it derives the
key notion of relationality from ancient Chinese cultural and political
thoughts. The notion of relationality is seen as the central tenant of
Chinese entire civilization, and it has been studied by many scholars
from different perspectives. The book argues that Chinese culture and
history play an indispensable role in building the abovementioned analyt-
ical tool of the ILCC. Thus, the major contribution of the book is to
bring the notion of relationality into the understanding of China’s lead-
ership role and leadership style, manifested in the concept of ILCC, in
global governance.

Beijing, China Peng Bo

 Acknowledgments

My book journey has been full of ups and downs throughout the past
years. Without the invaluable encouragement and support of my Ph.D.
supervisor, my family members and colleagues, I can hardly imagine that
I would be able to reach the final destination. Everyone surrounding me
has sustained me with a great deal of understanding, sympathy, patience,
and encouragement throughout the entire process.
First and foremost, I would like to express my special appreciation
to Professor Li Xing for his persistent support during my book writing
by virtue of his patience, stimulus, and inspirational communication. His
conscientious scholarship and disciplinary character have, to a large extent,
encouraged and assisted me throughout the entire writing process.
More important, I would like to express my deep love and thankful-
ness to my family members: my parents, my wife, and my daughter. My
parents have devoted themselves to bringing me up and teaching me how
to become a righteous and hardworking person. My wife and my daughter
have also done a lot to support me emotionally and spiritually during my
writing, especially when I encountered difficulties and hardships.

xv
 Contents

1 Introduction 1
1.1 The Multifaceted Rise of China and Global Governance 1
1.2 The Deficiencies of the Major Western IR Theories 6
1.3 A Culture-Oriented Approach to China’s Role
in Contemporary IR 21
References 25
2 The Concept of ‘International Leadership with Chinese
Characteristics’ 31
2.1 Chinese Political Culture and the Major Features
of Chinese Worldview of IR 31
2.2 Relational Theory in Interpreting the Core Elements
of International Leadership 51
2.3 Three Components of the “International Leadership
with Chinese Characteristics” 72
References 83
3 Empirical Studies of “International Leadership
with Chinese Characteristics” in Global Governance 89
3.1 Role Theory as a Guideline for Empirical Studies 89
3.2 The Selection of Empirical Cases 93
3.3 The Operationalization of Cases: Case Study Materials
and Empirical Methods 100
3.4 A Four-Step Interpretive Process 107

xvii
xviii CONTENTS

3.5 Summary 110

References 112
4 Case I: Empirical Analysis of the ILCC in the G20 115
4.1 Historical Analysis and Stage Division 115
4.2 The Interpretation of China’s National Role
Conception of the ILCC in the G20 119
4.3 The Interpretation of China’s National Role
Performance of the ILCC in the G20 131
4.4 Summary 139
References 146
5 Case II: Empirical Analysis of the ILCC in the BRICS 149
5.1 Historical Analysis and Stage Division 149
5.2 The Interpretation of China’s National Role
Conception of the ILCC in the BRICS 154
5.3 The Interpretation of China’s National Role
Performance of the ILCC in the BRICS 163
5.4 Summary 171
References 177
6 Case III: Empirical Analysis of the ILCC in the SCO 181
6.1 Historical Analysis and Stage Division 181
6.2 The Interpretation of China’s National Role
Conception of the ILCC in the SCO 185
6.3 The Interpretation of China’s National Role
Performance of the ILCC in the SCO 193
6.4 Summary 203
References 210
7 Case IV: Empirical Analysis of the ILCC in the BRI 213
7.1 Historical Analysis and Stage Divisions 213
7.2 The Interpretation of China’s National Role
Conception of the ILCC in the BRI 216
7.3 The Interpretation of China’s National Role
Performance of the ILCC in the BRI 224
7.4 Summary 231
References 238
 CONTENTS xix

8 Conclusion 241
8.1 The Applicability of the ILCC in Interpreting China’s
Role in Global Governance 241
8.2 Reflection of the Major Features of Chinese Worldview
of IR 251
8.3 The Explanatory Limitations of the ILCC 253
References 255

References 257
Index 281
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