China's Strategy for Strengthening Global Influence and Implications for Korea

Jihyun Jung ()
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Jihyun Jung: KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP), Postal: [30147] Building C, Sejong National Research Complex, 370, Sicheong-daero, Sejong-si, Korea, http://www.kiep.go.kr/eng/

No 24-41, World Economy Brief from Korea Institute for International Economic Policy

Abstract: While major advanced countries such as the United States are pursuing a de-risking (de-coupling) strategy with China, China is pursuing a strategy to strengthen its leadership while expanding its influence centered on the Global South. Since joining the WTO, China’s status in the global economy has expanded rapidly in hand with its rapid increase in trade and investment. The Xi Jinping government, which began during a period of expansion in China’s economic influence, is working to strengthen China’s global leadership and expand its influence in order to achieve the national goals of the “great revival of the Chinese nation” and “building a modern socialist powerhouse.” This can be explained as a strategy to weaken the global order centered on advanced countries such as the United States, and to change global norms and systems more favorable toward China. Accordingly, China’s strategy to strengthen its global influence is being pursued in various areas such as diplomacy, security, and culture as well as in economic fields such as trade, commerce, and finance. In addition, the Communist Party and government are actively and proactively exercising influence, utilizing their economic power in the form of massive funds, and using methods such as retaliation and coercion. China's strategy to strengthen its global influence could deepen competition and conflict with major countries such as the United States, and could trigger conflicts over camp through cooperation with some emerging countries, and as such Korea needs to prepare for increased external uncertainty.

Keywords: De-risking (De-coupling); Global South; Xi Jinping government; Global leadership; Great revival of the Chinese nation; Modern socialist powerhouse; Global order; Economic influence; Diplomacy; security; and culture; External uncertainty (search for similar items in EconPapers)
Pages: 7 pages
Date: 2024-12-12
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