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REGIONAL RELATIONSHIP (2) answer(s).
 
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ID:   138096


Balance of payments and power: assessing China's global and regional interdependence relationship / Chen, Ian Tsung-yen   Article
Chen, Ian Tsung-Yen Article
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Summary/Abstract Global economic imbalance leads to change in the global distribution of economic resources. While some foresee the inevitable decline of US power, others consider China’s forthcoming global primacy to be an exaggeration. This paper seeks to contribute to the debate by linking balance of payments (BOP) to power analysis. Dimensions of BOP are connected to Keohane and Nye’s two ideal-types of interdependence relationship: realist and complex interdependence. The former relates to the global distribution of aggregate economic resources; the latter emphasizes a detailed investigation of distinct interdependence situations between countries. China’s BOP from 1997 to 2012 is assessed through the lens of both ideal-type scenarios. The findings show that China’s growing power manifests principally in its rising status as a major global buyer in primary goods and its growing military strength in the region. However, China is confronted with possible slowdown in wealth accumulation and its lagging technological development. At present, the speculation of China’s upcoming global primacy may be exaggerated, but its dominant position in the region is indeed on the rise.
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2
ID:   146490


China and its neighbourhood: transformation, challenges and grand strategy / Yunling, Zhang   Journal Article
Yunling, Zhang Journal Article
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Contents China and its neighbours are closely bound by geography. The rise of China presents new challenges and opportunities for the development of its neighbourhood relations and regional strategies. Currently, China's policy priority in its neighbourhood is active promotion of the construction of a community based on shared interests and a common destiny. The real challenge is that China's rise from a weak to a powerful state has triggered multiple and complex reactions and has required significant and profound adjustment of regional relationships. As a consequence there have been growing tensions in China's neighbourhood areas. Traditional Chinese culture sets the highest value on ‘peace and harmony’, commends the ‘defusing’ of contradictions and pursues the result of ‘reconciliation’. Now that China is getting strong and is able to make choices as it wishes, the time has come for it to display its ‘culture of harmony’.
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