Reading Kindleberger in Beijing: Xi Jinping’s China as a provider of global public goods

Freeman, Carla

doi:10.1177/1369148120941401

Cited by 10 publications

(13 citation statements)

References 49 publications

(49 reference statements)

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“…[…] issues that are broadly conceived as important to the international community, that for the most part cannot or will not be addressed by individual countries acting alone and that are defined through a broad international consensus or a legitimate process of decision-making (Freeman, 2020).…”

Section: The Geopolitics Of the Pandemicmentioning

confidence: 99%

“…According to Carla Freeman, China has been expanding its role as a supplier of the global public good. This expansion has been a hallmark of President Xi’s foreign policy (Freeman, 2020, p. 2). China perceives its expanding role in international development, global trade and investment, as well as the Belt and the Road Initiative as providing global public goods (Freeman, 2020).…”

Section: Covid-19 and The Kindleberger Momentmentioning

confidence: 99%

“…This expansion has been a hallmark of President Xi’s foreign policy (Freeman, 2020, p. 2). China perceives its expanding role in international development, global trade and investment, as well as the Belt and the Road Initiative as providing global public goods (Freeman, 2020). Understanding China’s commitment to the provision of public goods is important in the light of the USA being not willing or able to sustain its role as the lead supplier of global public goods (Freeman, 2020).…”

Section: Covid-19 and The Kindleberger Momentmentioning

confidence: 99%

“…Moreover, Western Europe’s alignment with the USA and away from the Soviet Union has strategic benefits for the USA. Consequently, the USA formed the basis for the post-war provision of the global public good; the Bretton Woods Institutions, the Marshall Plan for European reconstruction and NATO (Freeman, 2020, p. 7). Freeman also discusses the incentives for a rising state to shift from consumer to provider of global public goods: the state needs to perceive international stability as necessary to its own national well-being, the lack of confidence in the incumbent power to provide international stability, the rising state sees itself as capable of providing global public goods, adequate domestic support, as well as evidence of external demand; that is state’s perception that there is international support for its role as a supplier for public goods from the incumbent stabilizer and international community (Freeman, 2020, p. 9).…”

Section: Covid-19 and The Kindleberger Momentmentioning

confidence: 99%

“…Crises occur when the hegemon ceases to supply necessary public goods and no other power can fill the vacuum (Freeman, 2020). Under the Trump administration, the USA has become less willing to lead and provide public goods, to the extent that during the Coronavirus crisis, no one was even looking for the USA for leadership.…”

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The geopolitics of COVID-19: US-China rivalry and the imminent Kindleberger trap

Bahi

2021

REPS

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Purpose The spread of COVID-19 is not just a health crisis. The pandemic has taken a geopolitical dimension. The health crisis amplified the competitive dynamics between the USA and China, affected the provision of global public goods and injected instability into the global order. In line with the geopolitical zero-sum thinking, both the USA and China have sought to capitalize on the crisis to boost their international profile. Instead of working together to mitigate the health and economic impacts of COVID-19, the two powers fear that the other will exploit the current situation to accrue political, economic or military gains that will give it an edge after the pandemic subsides. The spread of COVID-19 has set off a “battle of narratives,” in which China and the USA are accusing each other of failing to rise to the challenge. The world seems to be falling into a “Kindleberger Trap,” in which the established power is unable to lead while the rising power is unwilling to assume responsibility. The COVID-19 crisis is occurring amid the collapse of global cooperation. The USA, the traditional leader of international collective efforts in times of crisis, has abandoned its role entirely. The lack of leadership at the global level during an international crisis may cause the breakdown of the international order. Design/methodology/approach This paper examines the US-China competitive dynamics through the lens of the work of Charles Kindleberger, which both liberals and realists regard as foundational when examining the dynamics of global crisis management. This paper also uses the meta-geopolitics framework to determine the ability of both China and the USA to respond to the current COVID-19 crisis and its implications for their power and standing in the international system. Findings This paper concludes that the only way to escape the Kindleberger trap is “to embed Sino-American relations in multilateralism.” Originality/value As rivals, both the USA and China are seeking to capitalize on the crisis to boost their international profile. This paper probes how China and the USA navigated the ongoing COVID-19 crisis to determine whether or not they are currently in a “Kindleberger Trap,” using elements of the meta-geopolitics framework of analysis, namely, health issues, domestic politics, economics, science and international diplomacy. Using the meta-geopolitics framework will help us determine the ability of both China and the USA to respond to the current COVID-19 crisis and the implications of that on their power and standing in the international system.

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Section: The Geopolitics Of the Pandemicmentioning

confidence: 99%

Section: Covid-19 and The Kindleberger Momentmentioning

confidence: 99%

Section: Covid-19 and The Kindleberger Momentmentioning

confidence: 99%

Section: Covid-19 and The Kindleberger Momentmentioning

confidence: 99%

mentioning

confidence: 99%

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The geopolitics of COVID-19: US-China rivalry and the imminent Kindleberger trap

Bahi

2021

REPS

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Digital currencies, monetary sovereignty, and U.S.–China power competition

Huang

Mayer

2022

Policy & Internet

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The rise of digital currencies challenges practices of monetary sovereignty and impacts the international monetary order. Drawing on recent IPE debates about the public‐private nature of money, the critique of the “impossible trinity” and “territorial currencies,” this article explores the competition between China and the United States over and within the international monetary system. The two largest economies display strikingly divergent regulatory approaches to cryptocurrencies and Central Bank Digital Currency (CBDC). China completely banned cryptocurrencies but became a front‐runner in developing a CBDC. It aims to expand the RMB's global role without giving up its monetary control. U.S. administrations have instead reluctantly considered regulating cryptocurrencies. Discussions on a potential digital U.S. dollar (USD) only began in 2020. Washington aims at preserving the existing cross‐border financial mechanisms and offshore infrastructure for USD‐denominated transactions and credit creation. It focuses on financial crime and maintaining the innovation dynamic of its private sector to preserve its “exorbitant privilege.” Emerging financial infrastructures and standards for digital currencies are the new technological arena for U.S.–China monetary competition.

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Rising Hegemon? China’s International Ambition and the Politics of Hegemonic Ordering in Asia During the COVID-19 Pandemic

Harnisch

2021

Hegemonic Transition

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Reading Kindleberger in Beijing: Xi Jinping’s China as a provider of global public goods

Cited by 10 publications

References 49 publications

The geopolitics of COVID-19: US-China rivalry and the imminent Kindleberger trap

The geopolitics of COVID-19: US-China rivalry and the imminent Kindleberger trap

Digital currencies, monetary sovereignty, and U.S.–China power competition

Rising Hegemon? China’s International Ambition and the Politics of Hegemonic Ordering in Asia During the COVID-19 Pandemic

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