Renowned global affairs commentator Hsieh Chin-He presents a clear-eyed analysis of China’s challenge to the global order, and the implications for continued peace and prosperity across the Taiwan Straits.
Over the last thirty years China has undergone a remarkable transformation from being the world’s factory to becoming the second largest economy globally. In recent years, however, the geopolitical ambitions of Xi Jinping and the adoption of “wolf-warrior” diplomacy have triggered backlash against China’s rise, thrusting democratic Taiwan into the international spotlight as a potential flashpoint for a US-China conflict. Xi Jinping’s Chinese Dream, intended to assure the global community of China’s commitment to peaceful development and win-win cooperation, is increasingly viewed as a code word for China’s ambitions of regional dominance and the right to transgress international norms. Confronted by this shift in tone from Beijing, and the realignment of a once-stable global order, what can be done to preserve peace and prosperity in the region?
The book begins by examining the US-China trade war, unraveling its origins and development, and then proceeds to explore the evolution of the Chinese economy from the era of Deng Xiaoping to current leadership under Xi Jinping. The repercussions of Chinese economic policy on global capital markets are analyzed, with particular emphasis on the situation of Hong Kong. Lastly, the author directs attention to Taiwan, formulating an economic strategy for a world in which globalization is giving way to regionalization, and established norms are increasingly challenged by autocratic nations.
A keen observer of economic and financial trends, author Hsieh Chin-He has studied China for over forty years, witnessing the country’s spectacular rise. Writing from the frontlines of China’s regional ambitions, he presents a clear-eyed analysis of the ways in which China’s rise has altered the global order, and charts a course for continued regional peace and prosperity amid heightened US-China competition.