Home | Databases | WorldLII | Search | Feedback Edited Legal Collections Data

Bo, Qu --- "Dynamic Engagement: China’s Participation in International Monetary Institutions" [2012] ELECD 917; in Wouters, Jan; de Wilde, Tanguy; Defraigne, Pierre; Defraigne, Jean-Christophe (eds), "China, the European Union and Global Governance" (Edward Elgar Publishing, 2012)

Book Title: China, the European Union and Global Governance

Editor(s): Wouters, Jan; de Wilde, Tanguy; Defraigne, Pierre; Defraigne, Jean-Christophe

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781781004265

Section: Chapter 10

Section Title: Dynamic Engagement: China’s Participation in International Monetary Institutions

Author(s): Bo, Qu

Number of pages: 16

Extract:

10. Dynamic engagement: China's
participation in international
monetary institutions
Qu Bo1

DANGEROUS DICHOTOMY

Against the backdrop of the 2008 financial crisis, the policy choices of the
Chinese government concern many observers and policymakers in
developed countries. They hotly debate whether China is a status quo state
(to help the US maintain the existing system) or not and the appropriate
policy responses to China's rise. This kind of division is dangerous and
unhelpful. It assumes that China has opposing policy positions to
developed countries and attributes this difference to the nature of power
transition and the type of Chinese government. This judgement ignores the
fact that China as a new emerging power has interests in reforming the
international institutions as well as maintaining them. It is hard to explain
why China's behaviour in international institutions varies by issue area
and over time. In some fields, China makes strong policy assertions, such
as against the Bilateral Surveillance 2007 of the International Monetary
Fund (IMF). At the same time, in other areas, China seems indifferent to
these institutions: for example, China is less enthusiastic about the IMF
reform before 2008. This kind of dichotomy is likely to view the
relationship between China and the Untied States as a double gamble
(Lampton, 2008). America has bet that China will be a responsible
stakeholder in the international system and accept rather than overturn
the international principles and norms as it grows in power. And China
has bet that Washington will not seek ...