Towards a New Vision of Global Order? The Chinese Model of Development and Governance and Its Implications for the Established International Order

The purpose of this paper is to examine the Chinese vision of global governance and the implications that it poses for the established international economic order. This has been expressed through Chinese-led international initiatives such as the Belt and the Road Initiative (BRI) as well as the Chinese economic model of ‘Neo-Confucian state capitalism’ (Ho, 2008), which have created a paradigm for the developing world to follow. While the BRI had previously been perceived as a largely abstract concept, it has become an integral part of the Chinese vision of an interconnected world order, which has come at a time when China is seeking to redefine its’ global role. In addition, the paper will also explore how the Chinese vision for global governance has presented a notable challenge to the established international economic order by presenting the Chinese vision as an alternative to the established system as well as questioning many of the norms that have underpinned the liberal rules-based order. As a result, the Chinese vision for global order has become one of the most pressing questions for the established economic order as well as offering a window into China’s perception of its global role and identity, which it seeks to promote to a wider context.