CHINAMacroReporter

'Xi calls for new world order (again)'

‘We must not let the rules set by one or a few countries be imposed on others, or allow unilateralism pursued by certain countries [read America] to set the pace for the whole world.’
by

|

Financial Times

April 20, 2021
'Xi calls for new world order (again)'
BIG IDEA | ‘We must not let the rules set by one or a few countries be imposed on others, or allow unilateralism pursued by certain countries [read America] to set the pace for the whole world.’

Read Xi Jinping's full speech.

On April 20, General Secretary Xi Jinping gave his keynote speech at the annual Boao Forum, China’s answer to Davos.

  • The Forum’s theme this year was: ‘A World in Change: Join Hands to Strengthen Global Governance and Advance Belt and Road Cooperation.’

Mr. Xi’s speech was titled: ‘Pulling Together Through Adversity and Toward a Shared Future for All.’

  • In this speech, reports the Financial Times, he called for ‘a new world order, launching a veiled attack against US global leadership.’

In democracies, we take the post-World War II liberal world order for granted. As the cliché goes, it’s like the air we breathe.

  • And, like air, we will only notice it when it’s gone or when it changes enough for us to gasp.

The greatest challenge to the liberal order was the Soviet Union

  • The USSR believed, with history on its side, it would eventually bring all nations to socialism and then complete communism, all under its leadership.

The greatest challenge, that is, until today with Xi Jinping’s China.

  • Unlike the utopian Soviet vision, Xi strives to create a world order compatible with China and its objectives.
  • But also unlike the Soviet Union, which was sort of hermetically sealed from the day-to-day lives of democratic nations, China is in many ways pervasive in those nations.
  • And that makes its attempt to reshape the world order potentially more effective – and threatening.

Mr. Xi, in his speech, once again laid out China’s vision.

Replacing a system with a single hegemon [read America], Xi proposes a system administered in part by international organizations and underpinned by rule of law:

  • ‘We need to safeguard the UN-centered international system, preserve the international order underpinned by international law, and uphold the multilateral trading system with the World Trade Organization at its core.’

In this system, all countries have a say in the construction of the world order:

  • ‘In state-to-state relations, the principles of equality, mutual respect and mutual trust must be put front and center.’
  • ‘World affairs should be handled through extensive consultation, and the future of the world should be decided by all countries working together.’
  • ‘We must not let the rules set by one or a few countries be imposed on others, or allow unilateralism pursued by certain countries [again read America] to set the pace for the whole world.’
  • ‘What we need in today’s world is justice, not hegemony.’

And in Xi’s world [pay attention America]:

  • ‘Bossing others around or meddling in others’ internal affairs would not get one any support.’

In this new world,

  • ‘China will stay committed to peace, development, cooperation and mutual benefit, develop friendship and cooperation with other countries on the basis of the Five Principles of Peaceful Coexistence [the Five are mutual respect for sovereignty and territorial integrity, mutual non-aggression, non-interference in each other's internal affairs, equality and mutual benefit, and peaceful coexistence; first set forth by China's late Premier Zhou Enlai in negotiations with India in 1953-54.], and promote a new type of international relations.’
  • ‘However strong it may grow, China will never seek hegemony, expansion, or a sphere of influence.’
  • ‘Nor will China ever engage in an arms race.’

Toward these ends, Xi notes:

  • ‘The COVID-19 pandemic has made it all the more clear to people around the world that we must reject the cold-war and zero-sum mentality [listen up America] and oppose a new “Cold War” and ideological confrontation in whatever forms.’

In addition to the reasons above about why China is a greater challenge to the liberal world than the USSR ever was is that Mr. Xi’s vision is attractive, especially to smaller countries.

  • In his world, those countries will be consulted and heard. They will count.

The problem with China, as with the Soviet Union, is its actions belie its words.

  • Ask China’s neighbors along the South China Sea what they think of China's promise to 'never seek hegemony, expansion, or a sphere of influence.’
  • Ask India how these Five Principles of Peaceful Coexistence are working out on its border with China.
  • Ask Hong Kong about China’s interpretation of ‘the international order underpinned by international law.’
  • I could go on.

In making the international order fit it, rather than the way around, China is also making the world safe for autocracies by pressing for recognition of an equivalence between democratic and autocratic forms of government.

In a world where the liberal order is being shredded already without any help, the last thing we need is China lending a hand.

For those who don’t think any of this makes any difference, ask yourselves:

  • Would you rather live, do business, make investments within the liberal democratic world order, or in Mr. Xi’s world – not the one he talks about, the one he is actually creating?

More

CHINAMacroReporter

July 10, 2022
Building Biden's 'Great Wall' Around China
Whether you view it as an aggressive adversary or a nation asserting itself in ways commensurate with its rising status, China is creating risks – some subtle, some obvious - that, along with reactions of the U.S. and its allies, have to be factored, into every related business, investment, and policy strategy.
keep reading
July 1, 2022
A Debt Crisis of its Own Making
Ever since Xi Jinping announced ‘One Belt, One Road’ in 2013, I watched it expand China’s economic and geopolitical influence and lay the foundation for projecting its military power – and become by many accounts an exploiter of the developing world itself.
keep reading
June 22, 2022
No. Ukraine Won't Change Xi's Plans - or Timetable - for Taiwan
Ukraine won't speed up or delay Mr. Xi's timetable. (But it may cause him to work harder to strengthen China's military and insulate its economy from external pressure.)
keep reading
January 31, 2021
'Ted Cruz, Chinese Communist Party Agree: Keep Hongkongers Trapped in China'
‘The bill Cruz blocked, the Hong Kong People's Freedom and Choice Act of 2020, would grant political asylum to any resident of Hong Kong who arrives in the United States, allowing them to remain in the country legally after the expiration of any other visa.'
keep reading
January 31, 2021
Analysis: China tests Biden on Taiwan, with eye on another island
‘And it is at Pratas Island where a behind-the-scenes tug-of-war is being played out between the U.S. and China.’
keep reading
January 31, 2021
'Top Conflicts to Watch in 2021: The Danger of U.S.-China Confrontation Over Taiwan'
‘While people appear to believe that the Biden administration will strive to avoid acute crisis with China over Taiwan, U.S. policy toward Taiwan only reflects half of the story. The other, and more important half is from China.’
keep reading
January 31, 2021
China Tests Biden
In today’s issue: 1. China Tests Biden Over Taiwan / 2. The UK Stands Up, the U.S. Not So Much / 3. Why Impeding U.S.-China Capital Flows Isn't Easy
keep reading
January 27, 2021
Xi Jinping: 'Why We All Just Get Along?'
In today’s issue:1. Biden Shows his Hand on China / 2. Xi Shows his Hand on the U.S./ 3. Multi-Lateralism, Chinese-Style / 4. Cooperation or 'Strategic Competition'?
keep reading
January 27, 2021
'Xi Jinping Wows Them at Davos'
‘The test for the Biden team is whether it will be tripped up by the feints toward international norms and comity that punctuate Mr. Xi’s pattern of regional aggression.’
keep reading
January 27, 2021
Part One | 'Biden’s Opening Salvo on Beijing'
‘The Biden administration is less than a week old, but its most consequential foreign-policy decisions may already be behind it.’
keep reading
January 27, 2021
'China’s Xi Champions Multilateralism at Davos, Again'
‘While Xi’s speech may have echoed similar themes from his 2017 address, today’s circumstances are markedly different.’
keep reading
January 27, 2021
'China’s Xi Warns Against Confrontation in Veiled Message to Biden'
‘Chinese President Xi Jinping issued a veiled warning against the new Biden administration’s preparations to rally allies to challenge Beijing on a range of issues.’
keep reading
January 27, 2021
'China rejects 'strategic competition' and calls on US to cooperate'
‘China wants cooperation, not strategic competition, the Foreign Ministry said Tuesday, a day after the White House said it was looking to form a "new approach" toward China.’
keep reading
January 27, 2021
'Xi Jinping at the Virtual Davos: Multilateralism with Chinese characteristics'
‘At the virtual Davos this week, Xi essentially proposed a multilateralism with Chinese characteristics—designed to ensure that international interactions be conducted in accordance with China’s perspectives.’
keep reading
January 27, 2021
Part Two | 'Biden’s Opening Salvo on Beijing'
‘China will think carefully before making its next moves, but it’s unlikely to submit tamely to American pressure.’
keep reading
January 23, 2021
‘Reasons for Increases In Cross-Border Capital Flows into China’
'Cross-border portfolio capital flows into China have been rising since 2014.'
keep reading
January 23, 2021
'Rethinking 2020: What’s Overlooked and What’s Overhyped'
‘If a single word were chosen to define US-China in 2020, “decoupling” would be a good candidate. What has been overlookedis just how little meaningful decoupling actually happened.’
keep reading
January 23, 2021
'A Complex Inheritance: Transitioning to a New Approach on China'
‘For the Biden administration to successfully transition to a new and more effective China strategy, the various existing Trump measures should not be treated in the same way.’
keep reading
January 23, 2021
‘China’s Easing of Regulations Restricting Foreign Ownership of Financial Firms’
'Foreign firms have only a tiny slice of most segments of this market; they control less than 2 percent of banking assets, for example, and less than 6 percent of the insurance market.'
keep reading
January 23, 2021
'Does Xi Jinping Face a Coup Threat?'
In today’s issue: 1. Rest easy. Xi is Safe / 2. China a Career Killer? /3. Rethinking 2020: What’s Overlooked and What’s Overhyped / 4. China’s Financial Opening Accelerates
keep reading
January 23, 2021
The struggle over chips enters a new phase
In the 20th century the world’s biggest economic choke-point involved oil being shipped through the Strait of Hormuz. Soon it will be silicon etched in a few technology parks in South Korea and Taiwan.’
keep reading
January 23, 2021
'Why Chinese Companies are Having a Tough Time Recruiting in the U.S.'
‘I have seen senior executives who take on very public roles within some of these Chinese companies find that their life after those companies has been more limited. It even has a bit of a taint. A bit like working for tobacco.’
keep reading
January 23, 2021
H.R. McMaster: 'Biden would do the world a favor by keeping Trump’s China policy'
‘No doubt the Biden administration will see ways to improve the strategic framework we devised, but continuity with the approach is essential.’
keep reading
January 23, 2021
'Does Xi Jinping Face a Coup Threat?'
‘So if you're an autocrat, you really have to be nervous about what's the military doing and is the military coming after me?’
keep reading
January 23, 2021
‘China’s Financial Opening Accelerates’
‘Despite predictions by some observers that the United States and China are headed for a “decoupling,” China’s integration into global financial markets is accelerating.’
keep reading
January 22, 2021
Confronting the Challenge of Chinese State Capitalism
‘When a U.S. or European firms compete against, say, COSCO Shipping or Huawei, it is the entirety of the Chinese government’s balance sheet that it must contend with, not just an individual firm.’
keep reading
January 20, 2021
'When it comes to China, Team Biden sounds a lot like Team Trump'
‘As Biden has announced his picks for cabinet positions and senior policy advisers, it has been almost impossible to distinguish his new team's China rhetoric from that of the departing Trump officials.’
keep reading
January 20, 2021
'When it comes to China, Team Biden sounds a lot like Team Trump'
In today’s issue: 1. Biden's China Hawks / 2. Keep Trump's China Policy [?] / 3. Breaking Down Biden's China Challenges
keep reading
January 16, 2021
'Jack Ma Misreads Xi Jinping'
"The reason why Jack Ma and others could build enormous Internet companies is because the Party had no idea what they were doing. They became famous globally and made China look very good, but then the Party had to figure out how to get their arms around them."
keep reading
January 16, 2021
'China: Taming the Overshoot'
‘We expect GDP growth to improve to 7.1% in 2021 from 2.2% in 2020.Realized growth will likely overshoot potential growth in 2021, but from a policy perspective, we expect that the authorities would prefer to avoid an aggressive overshoot in one particular year in exchange for a smoother and more sustainable growth profile over the next five years.’
keep reading
January 16, 2021
'Financial Technology Is China’s Trojan Horse'
‘Chinese fintech firms function like a geoeconomic Trojan horse.’
keep reading
January 16, 2021
'Where in the World is Jack Ma?'
In today’s issue: 1. Where in the World is Jack Ma?'The CCP's Ambivalence about the Private Sector’‘Jack Ma Misreads Xi Jinping’ / 2. China’s Fintech Threat‘Financial Technology Is China’s Trojan Horse’ / 3. 2021 Economic Outlook: Sunrise in a Fractured World’ | CHINA
keep reading
January 13, 2021
'Kurt Campbell, Biden’s pick for a new NSC Asia position, should reassure nervous allies'
‘Asia watchers in Washington and America’s Asian allies should be reassured that Biden is planning to elevate the importance of the Indo-Pacific region by creating this coordinator role and staffing it with someone so senior.'
keep reading
January 13, 2021
1. 'Restoring Balance'
‘China’s growing material power has indeed destabilized the region’s delicate balance and emboldened Beijing’s territorial adventurism. Left unchecked, Chinese behavior could end the region’s long peace.’
keep reading
January 13, 2021
3. 'Forging Coalitions'
‘The principal challenge facing the United States is to bridge European and regional approaches to Chinese challenges.’
keep reading
January 13, 2021
'How America Can Shore Up Asian Order'
‘This combination of Chinese assertiveness and U.S. ambivalence has left the Indo-Pacific region in flux.'
keep reading
January 13, 2021
2. 'Restoring Legitimacy'
‘Negotiating Beijing’s role in this order is the most complex element of the overall endeavor.’
keep reading

Heading

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.