PedroMendez
Acolyte
No country is going to become as dominant as the US has been in the past WWII era. China isn't going to replace the US as global super power. They'll erode the dominance of the US.
In the past the US (+Europe) have been setting the rules for international economic interaction. WTO, Gatt, IMF or the WB are all institutions of Western creation to universalize their ideas of an international economic system (~liberal rules based system). TPP & TTIP would have been two big corner stones to “lock in” these values.
The Chinese had to go along with all of this in the past, but their own vision of an international economic system looks different to the vision of western policy makers. The stronger the Chinese economy gets, the more they'll be able to change existing institutions, disregard them or create alternative ones. We see examples for all three developments.
It is legitimate and understandable that the Chinese want to have their voice heard. The problem is, that they don't really seem to fancy the “rules based” approach. That can create quite significant problems.
In the past the US (+Europe) have been setting the rules for international economic interaction. WTO, Gatt, IMF or the WB are all institutions of Western creation to universalize their ideas of an international economic system (~liberal rules based system). TPP & TTIP would have been two big corner stones to “lock in” these values.
The Chinese had to go along with all of this in the past, but their own vision of an international economic system looks different to the vision of western policy makers. The stronger the Chinese economy gets, the more they'll be able to change existing institutions, disregard them or create alternative ones. We see examples for all three developments.
It is legitimate and understandable that the Chinese want to have their voice heard. The problem is, that they don't really seem to fancy the “rules based” approach. That can create quite significant problems.