China and Asian Neighbors: A Crisis Test
https://doi.org/10.23932/2542-0240-2020-13-3-4
Abstract
The beginning of the new decade in 2020 has brought a combination of seemingly dramatic events across the world. We have focused on China and its economic role in Asia under new realities of trade war from Donald Tramp, coronavirus outbreak and de‑globalization, which started after global financial crisis (GFC) in 2008‑09. De‑globalization is understood as a steady decline of the role of exogenous factors in economic development, which has been observed globally and even more clearly in China in 2010‑19.
De‑globalization is also understood as a process of regionalization forming more intensive and cooperative links with neighboring countries and territories. The China’s Belt and Road Initiative (BRI) may be viewed as a de‑globalization source providing self‑consolidation of national states in Asia – to build a more friendly and productive environment for the future of the continent. In this sense BRI may be assessed as a project opposite to liberal globalization –poor in results both economic and social.
Thus, today’s crises are a good test for China’s cooperation with its neighbors, ideas of collective self‑reliance, South‑South consolidation and leading role of national states in economic modernization: ideas which were popular before arrival of liberal globalization in the 1980‑90’s. Globally that may mean restoration of UN documents and projects on economic rights and duties of states, code of behavior for TNC etc.
About the Author
A. I. Salitskii
Primakov National Research Institute of World and International Relations of the Russian Academy of Sciences
Russian Federation
Russian Federation
Alexandr I. Salitskii
DSc in Economics, Chief Researcher
117997, Profsoyuznaya St., 23, Moscow
References
1. Asia’s Future Is Now (2019). McKinsey Global Institute, July 2019. Available at: https://www.mckinsey.com/~/media/McKinsey/Featured%20Insights/Asia%20Pacific/Asias%20future%20is%20now/Asias-future-is-now-final.ashx, accessed 22.06.2020.
2. Bello W. (1999) The Answer: De-Globalize. Far Eastern Economic Review, April 29, 1999.
3. Brown D. (2019) As Global Growth Slows, the World Needs a New Marshall Plan, not Lower Interest Rates. South China Morning Post, June 24, 2019. Available at: https://www.scmp.com/comment/opinion/article/3015762/global-growthslows-world-needs-new-marshall-plannot-lower, accessed 22.06.2020.
4. Chang P. (2020) How Southeast Asia’s Chinese Diaspora Could Play a Leading Role in Defusing Sino-US Rivalry. South China Morning Post, April 3, 2020. Available at: https://www.scmp.com/comment/opinion/article/3077940/how-southeastasias-chinese-diaspora-could-play-leading-role, accessed 22.06.2020.
5. China’s Hainan Sees Surging Investments in B&R Countries in 2019 (2020). People’s Daily, March 31, 2020. Available at: http://en.people.cn/n3/2020/0331/c900-00-9674632.html, accessed 22.06.2020.
6. Damgaard J., Elkjaer T., Johannesen N. (2019) The Rise of Phantom Investments. Finance & Development, vol. 56, no 3, pp. 11– 13. Available at: https://www.imf.org/external/pubs/ft/fandd/2019/09/the-rise-ofphantom-FDI-in-tax-havens-damgaard. htm, accessed 22.06.2020.
7. Dodwell D. (2019) Capitalism Is in Crisis. It Cannot Be Business as Usual for Very Much Longer. South China Morning Post, September 23, 2019. Available at: https://www.scmp.com/comment/opinion/article/3029823/capitalism-crisis-itcannot-be-business-usual-very-muchlonger, accessed 22.06.2020.
8. Globalisation Has Faltered: It Is Now Being Reshaped (2019). The Economist, January 24, 2019. Available at: https://www.economist.com/briefing/2019/01/24/globalisationhas-faltered, accessed 22.06.2020.
9. India’s Vaccine Manufacturing Could Play Larger Role amid Global Cooperation (2020). Global Times, April 29, 2020. Available at: https://www.globaltimes.cn/content/1187171.shtml, accessed 22.06.2020.
10. Key Indicators for Asia and the Pacific 2019 (2019). Asian Development Bank. Available at: https://www.adb.org/sites/default/files/publication/521981/ki2019.pdf, accessed 22.06.2020.
11. Laruelle M. (ed.) (2018) China’s Belt and Road Initiative and Its Impact in Central Asia, Washington, D.C.: the George Washington University, Central Asia Program. Available at: https://centralasiaprogram.org/wp-content/uploads/2018/01/OBOR_ CAP_2018.pdf, accessed 22.06.2020.
12. Mao Keji (2020) For India to Become the Next Manufacturing Powerhouse, It Must First Learn from China. South China Morning Post, March 26, 2020. Available at: https://www.scmp.com/comment/opinion/article/3076881/india-become-nextmanufacturing-powerhouse-it-must-firstlearn, accessed 22.06.2020.
13. Newman N. (2020) Post-coronavirus, Expect Manufacturing to Make a Mass Exodus from China. South China Morning Post, May 4, 2020. Available at: https://www.scmp.com/week-asia/opinion/article/3082445/post-coronavirus-expect-manufacturing-make-mass-exoduschina, accessed 22.06.2020.
14. Philippon T. (2019) The Great Reversal: How America Gave Up on Free Markets, Harvard University Press.
15. Pitlo III L.B. (2020) How the Coronavirus Pandemic Could Lead to a ‘Less Chinese’ Belt and Road Initiative. South China Morning Post, May 6, 2020. Available at: https://www.scmp.com/week-asia/opinion/article/3083008/how-coronaviruspandemic-could-lead-less-chinese-beltand-road, accessed 22.06.2020.
16. Rodrik D. (2017) Straight Talk on Trade: Ideas for a Sane World Economy, Princeton University Press.
17. Rodrik D. (2020) Why the Coronavirus Pandemic Is Unlikely to Change the World, for Better or Worse. South China Morning Post, April 8, 2020. Available at: https://www.scmp.com/comment/opinion/article/3078766/why-coronavirus-pandemic-unlikely-change-world-better-orworse, accessed 22.06.2020.
18. Rowley A. (2020) Why China – not the US – Remains Key to Asia’s Trade and Economic Recovery after Covid-19. South China Morning Post, April 27, 2020. Available at: https://www.scmp.com/comment/opinion/article/3081509/why-china-notus-remains-key-asias-trade-and-economic-recovery, accessed 22.06.2020.
19. Singh Z. (2020) Rethinking India’s Approach to China’s Belt and Road Initiative. Economic & Political Weekly, vol. 54, no 26–27, Junе 29, 2019. Available at: https://www.epw.in/journal/2019/26-27/strategic-affairs/rethinking-indias-approach-chinas-belt-and-road.html, accessed 22.06.2020.
20. Tepper J., Hearn D. (2018) The Myth of Capitalism. Monopolies and the Death of Competition, Wiley.
21. Trade and Development Report 2019: Financing a Global Green New Deal (2019). UNCTAD. Available at: https://unctad.org/en/PublicationsLibrary/tdr2019_en.pdf, accessed 22.06.2020.
22. Valencia M. (2020) Demonising China Does Nothing to Untangle the Contesting Claims on South China Sea’s Fish-rich Waters. South China Morning Post, April 11, 2020. Available at: https://www.scmp.com/comment/opinion/article/3079330/demonising-china-does-nothing-untangle-contesting-claims-south, accessed 22.06.2020.
23. Witt M. (2019) De-globalization: Theories, Predictions, and Implications for International Business Research. Journal of International Business Studies, vol. 50, no 7, рp. 1053–1077. DOI: 10.1057/s41267-019-00219-7
24. Zhu Andong (2020) Capitalist World Is Facing Systemic Crisis. Global Times, January 29, 2020. Available at: https://www.globaltimes.cn/content/1177928.shtml, accessed 22.06.2020.
Review
For citations:
Salitskii A.I. China and Asian Neighbors: A Crisis Test. Outlines of global transformations: politics, economics, law. 2020;13(3):66-81. (In Russ.) https://doi.org/10.23932/2542-0240-2020-13-3-4
Views:
924
Email this article 