Academic Naoise McDonagh asserts that a key question posed by China’s rise is whether the liberal international order can remain rules-based, when its second largest member is a socialist market economy operating on different rules that it increasingly seeks to apply externally.
Economy
The newly launched Indo-Pacific Economic Framework for Prosperity has arguably low or no ambition around market access, but perhaps because of its non-contentious nature, could be a promising start. Countries in the region welcome options amid fears of Chinese economic coercion and may just provide the momentum needed when the time is ripe.