From new projectment economy to Chinese embedded globalization
DOI:
https://doi.org/10.5752/P.2317-773X.2021v9n4p90-105Keywords:
China, New Projectment Economy, Chinese embedded globalization, Development, GeopoliticsAbstract
The article proposes an interpretation of the rise of China from a synthesis between international political economy and geopolitics and aims to decipher two intertwined political processes. One domestic, the other global. The first is the emergence of the New Projecting Economy in China with its civilizational values built over 5000 years of history that present itself today as a geopolitical counterpoint to neoliberal globalization led by big finance and the United States. The second process is the embedded Chinese globalization (ECG), which presents itself as an institutional and multidimensional historical construct that is strengthened with the Belt and Road Initiative (BRI). Our hypothesis is that both processes come together, not without contradictions, challenging the liberal institutional foundations of the West, outlining a renewed hybrid geopolitics, based on a multipolar system with inter-civilizing characteristics. From this common historical experience, an inclusive multilateralism could be built.
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