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date: 18 June 2021

Abstract and Keywords

Since the—externally enforced—opening of China to the global economy in the mid-nineteenth century, China’s integration into the global economic system has been mostly determined by a passive adoption of norms and regulatory principles developed in the West. It is only in recent years, as China’s absolute and relative economic might in the global economic system has risen dramatically, that a more active Chinese approach toward the institutional ordering of global economic interaction can be observed. This chapter looks into the parameters of China’s integration into the international system, its role in global economic governance as well as the drivers of Chinese institution building in the context of the Belt and Road Initiative.

Keywords: international economic governance, China, institutional change, economic reform, Bretton Woods, G20, Belt and Road Initiative

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