The Implications of China's Economic Statecraft
Abstract
Twenty years after the end of the Cold War and the rise of the U.S. as the world's sole great power, many now view the emergence of China as the most likely contender or threat to balance U.S. power or surpass it. In the midst of an increasingly globalized international environment and as the U.S. and other western nations currently face serious financial crises, China, among several other nations (including India and Brazil), has one of the fastest growing economies in the world, and holds a significant amount of U.S. public debt. Meanwhile, the U.S. economy appears to have stalled with no clear end in sight out of its current economic recession. For some observers, these factors point to an impending decline in U.S. influence in the Asia-Pacific region and around the globe. However, China's rapid economic growth does not automatically signal the coming decline of the U.S. as a great economic power. Since their economies are so interconnected, the economic fortunes of both may rise and fall together. Therefore, China s economic rise does not necessarily spell the demise of the U.S. This paper will examine the strategic implications for the U.S. of China as a rising economic power.
Document Details
- Document Type
- Technical Report
- Publication Date
- Mar 19, 2012
- Accession Number
- ADA561282
Entities
People
- Omuso D. George
Organizations
- United States Army War College