Power transitions and global trade governance: The impact of a rising China on the export credit regime

Kristen Hopewell*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract / Description of output

The existing liberal international economic order was constructed during the era of American hegemony and heavily shaped by US power. How is the rise of China affecting global economic governance? This article analyzes the case of export credit, which has long been considered a highly effective international regulatory regime and an important component of global trade governance. I show that the rise of China is profoundly altering the landscape of export credit and undermining its governance arrangements. State-backed export credit is a key tool of China’s development strategy, yet I argue that an explosion in China’s use of export credit is eroding the efficacy of existing international rules intended to prevent a competitive spiral of state subsidization via export credit. The case of export credit highlights a fundamental tension between liberal institutions of global governance and the development objectives of emerging powers.
Original languageEnglish
Pages (from-to)634-652
Number of pages19
JournalRegulation & Governance
Volume15
Issue number3
Early online date23 Apr 2019
DOIs
Publication statusPublished - Jul 2021

Keywords / Materials (for Non-textual outputs)

  • China
  • global economic governance
  • OECD
  • rising power
  • trade
  • WTO

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