In this second decade of the twenty-first century, China has become a superpower. In particular, in the last 10 years, the country has established itself firmly in the global political and economic arena. Was it Europe that dominated the world in the 19th Century and the U.S. in the 20th Century, this new era may well be China’s !
Geopolitically and geoeconomically, China is making its presence felt in the region and in the rest of the world. Numerous acquisitions in Europe and the U.S., economic expansion into Africa and, of course, trade and investment in its own “backyard”, Asia.
The One Belt, One Road initiative, the “claiming” of territories in the South China Sea, the establishment of the Asian Infrastructure Investment Bank (AIIB), its prominent role in the recent Paris Climate Conference, are all signals that China is not only spreading its wings economically but also politically. China is letting the world know that the days that Western nations solely dominated the political and economic agenda are over.
However, China faces a tough battle. Although large parts of the world do turn away from Western influence, whether in Africa or in Asia, this does not mean that China is automatically embraced as the replacing superpower. Just as the U.S. is struggling with “winning the hearts & minds” in large parts of the world, China is having to deal with this on maybe an even larger scale. Where the U.S. at least has loyal Europe unconditionally on its side, China is having a hard time lining up “allies” even within Asia. Whether historically-determined, or driven by more recent events, China’s gesture of goodwill is not seldom met with a lukewarm response.
It takes more than just money and know-how to be accepted by the world as a leading superpower. In the years to come, China will have to work hard on “winning the hearts & minds” of other nations in Asia and in the rest of the world.
This article appeared earlier in e-magazine Business Trends Asia
