China, the G20 and global economic governance

International trade International relations China

In this Lowy Institute Analysis, Hugh Jorgensen and Dr Daniela Strube examine China’s approach to global economic governance. The paper argues that China will seek a greater role in governance processes, but will pursue a combination of approaches involving both existing Bretton Woods Institutions and new forums.

Key findings

  • China has a growing incentive to pursue global economic rules more favourable to the Chinese economy, while retaining those aspects of the international system that have facilitated China’s prosperity.
  • China will not ‘place all its eggs in one basket’, and will likely pursue a combination of approaches that involve both the traditional Bretton Woods Institutions, and emergent actors like the BRICS forum.
  • The G20 has the potential to help China expand its role in global economic governance while retaining the fundamental building blocks of the current architecture.
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