To overcome the domestic crisis, in the 1970s the United States decided to create a global market to restore the profitability of US multinationals. For its part, China sees globalization as an accelerator of national economic development. Although the motivations of the two great powers are very different, they agree that China must contribute to globalization.
This apparent agreement turned, in the 2000s, into open conflict and a deep and lasting rivalry. The American capitalist vision is confronted with Chinese communism. This is when a turning point occurred: China decided to free itself from this “soft trade” by modifying the rules of this globalization under American supervision.
It sets up new rules, creates not only physical but also digital and monetary infrastructures. China is proposing another vision of capitalism, a state-led, authoritarian and dynamic vision.
In this book, the author provides in-depth insight to understand the why and how of current rivalries and the geopolitical limits of the US-China relationship.
Benjamin Bürbaumer is an economist and lecturer at Sciences Po Bordeaux. A specialist in globalization and international political economy, he is the author of Le Souverain et le Marché (The Sovereign and the Market) (Amsterdam Publishing, 2020).
Chronicle written by Florence Anglès