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Ultimately, the future of global economic stability may depend on China’s willingness to reconsider the logic that has underpinned its ascent. Since 1949, the Chinese Communist Party’s anti-hegemonic strategy has been remarkably successful in reshaping the international environment and creating space for China’s extraordinary rise—an achievement rooted above all in the hard work, discipline, and resilience of the Chinese people. Yet history offers a cautionary lesson. Great powers encounter danger when they cease to view success as the product of contingency and effort and begin to view it instead as the expression of historical destiny. If Beijing falls into this trap, and refuses to heed Western warnings, it will trigger a vicious trade war that will leave the world much worse off, and the dream of China’s national rejuvenation in tatters.
ChinaMed Director Enrico Fardella, together with Sergey Radchenko (Johns Hopkins SAIS), are the authors of this article for Foreign Affairs analyzing the causes and global consequences of China's trade and economic policies.
Read the full article here.
