The balance of power is constantly changing. Recently, the international system has undergone a massive shift characterized by the rise of China and the decline of the United States. For the first time in modern history, the global hegemon will not hail from the West, posing an existential threat to the Western countries that have dominated the world order for centuries. China has rapidly become the world’s second-largest economy after an intense modernization campaign in the late 20th century that lifted the country from poverty. Today, their economic, political, and cultural power is extending its reach across the globe. Meanwhile, the US has continued to sink, as it grapples with increased competition, political polarization, and systematic racial inequality. These changes will have profound impacts on the state of the world order, presenting opportunities for some and challenges for others. This series seeks to understand the reasons behind the rise of China and the fall of the US and what this new world order will mean for the world, including its effects on human rights, environmental sustainability, sovereignty, and trade.
China’s massive Belt and Road Initiative poses three major geopolitical and economic implications for a middle power like Canada.
A potential new reserve currency The rise of China’s influence on the global financial market is demonstrated by its increased capital investments in international institutions and projects. As the Chinese capital market continues to expand, its control over financial institutions like the New Development Bank (NDB) and Asian Infrastructure Investment
The EU-China trade relationship is of huge importance for global economic growth and prosperity. On average, trade between both parties is estimated to exceed one billion Euros per day. However, the increasing human rights violations in China, the disappointment around the “one belt one road” (OBOR) project, and the Trump
In recent decades, China’s global influence has grown substantially. Part of President Xi Jinping’s foreign policy strategy has been to invest heavily in remote and far-flung regions across the world, assembling a devoted band of small aid-dependent nations. One strategic area that has grasped China’s attention is the South Pacific,
In international relations, the saying, “the enemy of my enemy is a friend,” has proven true with the emergence of a new world order. Earlier this year, Iran’s increasing friendship with China was hinted at when a draft of a potential 25-year trade and military agreement was leaked. However, an