Jeju Peace Institute

In today’s world, the international order seems to be shaping up fast with the so-called G2 (Group of Two) with the United States as the traditional superpower on one hand and China as a fast emerging challenger on the other.

The kernel of the United States’ East Asia policies is to contain the emergence of China as a force to reckon with in East Asia and seal it off militarily through the US’s policy of “Return to Asia” and “Rebalancing Strategies.”

While the US continues to focus on Asia, China’s policy regarding the US is concentrated on responding to changes in US policies.

From the long-term perspective, China seeks to achieve national security and economic development at the same time through its new strategy called “One Belt, One Road,” which calls for the construction of a massive economic cooperation zone embracing China, Central Asia, and Europe through its leadership in the completion of the Silk Road Economic Belt and the Maritime Silk Road on land and at sea, respectively.

Overall, cooperation and conflicts coexist in the US-China relations. Note, however, that the competition for regional dominance between the two countries is increasingly becoming obvious in East Asia.

While calling continuously for the establishment of a new relationship called the “New Type of Great Power Relations” with the United States based on its economic power, China implements the so-called “Anti- Access/Area-Denial Strategy” that is aimed at preventing the United States from projecting its military power in the South China Sea.

On the other hand, the latest US-China relationship demonstrates some significant changes in its dynamics.

While China is faced with limitations in its capabilities to run the country most effectively in line with its shrinking economic edge on the world stage, the United States has seen a slow yet continuous recovery in its economy thanks to the increasing shale gas production and the rise of the manufacturing sector.

China attempts to change the existing US-centered international financial order through Asian Infrastructure Investment Bank. A total of 57 member countries have joined the Chinese-led effort in a large part to secure an edge in construction contract awards. Nonetheless, the possibility of the international financial order being restructured under China’s sway remains low.

Military-wise, while the United States is leading a paradigm shift in weapons system, China is attempting to catch up with the advances made by the USA. Still, the emergence of non-nuclear strategic weaponry contributes to widening the gap in terms of relative military power.