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Yeni Küresel Düzen Arayışında Çin'in Hegemonyaya Meydan Okuması

Year 2025, Volume: 9 Issue: 3, 1083 - 1096, 19.09.2025
https://doi.org/10.30586/pek.1580803

Abstract

Bu çalışma, Çin'in ABD liderliğindeki küresel hegemonik düzene karşı finans, siyaset ve ticaret alanlarında giriştiği meydan okumayı sistematik olarak ele almaktadır. Bu bağlamda, araştırma sorusu "Çin'in küresel hegemonya düzenine karşı ekonomik, politik ve ticari alanlarda geliştirdiği stratejik girişimler nelerdir?" olarak belirlenmiştir. Mevcut Batı merkezli kurumların getirdiği sınırlamalardan kaynaklanan memnuniyetsizlikle hareket eden Çin, özellikle 2008 finansal krizinden bu yana alternatif girişimler geliştirmiştir. Finansal olarak, Asya Altyapı Yatırım Bankası, Yeni Kalkınma Bankası, dijital yuan ve Sınır Ötesi Bankalararası Ödeme Sistemi gibi girişimleri Çin’in Batı finansal mekanizmalarına bağımlılığını azaltma hedefini yansıtmaktadır. Siyasi alanda, çok kutuplu bir dünya düzenini savunmak adına BRICS ittifakını kullanarak ABD hegemonyasına alternatif olarak çok taraflılığı desteklemektedir. Ticari alanda, “Kuşak ve Yol Girişimi” ve “Çin Malı 2025” gibi projeleriyle Çin küresel etkisini güçlendirmekte ve yüksek katma değerli endüstriler geliştirerek bağımlılığını azaltmaktadır. Çalışmanın özgünlüğü, bu stratejik alanları bütünleşik bir analizle ele alarak, Çin’in uluslararası güç yapısını dönüştürme girişimlerini kapsayıcı bakış açısıyla sunmasında yatmaktadır. Metodolojik olarak birincil ve ikincil kaynaklardan elde edilen verileri sentezleyerek nitel bir analiz barındıran çalışma, küresel yönetişim, ekonomik etki ve çok kutupluluğa geçiş üzerine literatüre benzersiz bir perspektif katmaktadır.

References

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  • Li, L. (2018). China’s manufacturing locus in 2025: With a comparison of “Made-in-China 2025” and “Industry 4.0.” Technological Forecasting and Social Change, 135, 66–74. https://doi.org/10.1016/j.techfore.2017.05.028
  • Lin, Z., Zhan, W., & Cheung, Y.-W. (2016). China’s Bilateral Currency Swap Lines. China & World Economy, 24(6), 19–42. https://doi.org/10.1111/cwe.12179
  • McBride, J., Chatzky, A., & Berman, N. (2023). China’s Massive Belt and Road Initiative. Council on Foreign Relations. https://www.cfr.org/backgrounder/chinas-massive-belt-and-road-initiative
  • McDowell, D. (2019). The (Ineffective) Financial Statecraft of China’s Bilateral Swap Agreements. Development and Change, 50(1), 122–143. https://doi.org/10.1111/dech.12474
  • Ministry of Foreign Affairs of the People’s Republic of China. (2022). BRICS Countries. BRICS 2022 China. http://brics2022.mfa.gov.cn/eng/gyjzgj/jzgjjj/
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  • Pehamberger, D. (2024). Controlling Tomorrow: China’s Dominance Over Future Strategic Supply Chains. The Diplomat. https://thediplomat.com/2024/08/controlling-tomorrow-chinas-dominance-over-future-strategic-supply-chains/
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  • Wen, Y. (2015). China’s Industrial Revolution: Past, Present, Future. Federal Reserve Bank of St. Louis. https://www.stlouisfed.org/dialogue-with-the-fed/chinas-industrial-revolution-past-present-future
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China's Strategic Challenge to Hegemony for a New Global Order

Year 2025, Volume: 9 Issue: 3, 1083 - 1096, 19.09.2025
https://doi.org/10.30586/pek.1580803

Abstract

This study examines China’s challenge to the global hegemonic order through finance, politics, and commerce in a systematic and interconnected manner. Its research question is "What are China’s strategic initiatives in economic, political, and commercial spheres against global hegemonic order?”. China implemented initiatives notably since 2008 financial crisis with dissatisfaction from Western-dominated institutions. Financially, China’s initiatives of “Asian Infrastructure Investment Bank”, “New Development Bank”, digital yuan and “Cross-Border Interbank Payment System” highlights its drive to reduce reliance on Western financial mechanisms. Politically, China utilized BRICS alliance to advocate for a multipolar world order as alternative to the U.S. hegemony. Commercially, China augments its global influence by advancing high-value industries, “the Belt and Road Initiative” and “Made in China 2025”. This study's originality lies in its integrated and holistic analysis of China’s systematic initiatives in these strategic spheres to reshape international power structures. Methodologically, this study adopts a qualitative analysis approach, synthesizing data from primary and secondary sources to provide a holistic view of China’s strategic efforts across these spheres. It thus distinguishes from existing literature and offers more comprehensive perspective on China's systemic challenge to global hegemony by integrating financial, political, and commercial dimensions within a unified analytical framework.

References

  • Aldasoro, I., Cabanilla, C., Disyatat, P., Ehlers, T., McGuire, P., & von Peter, G. (2020). Central Bank Swap Lines and Cross-Border Bank Flows (SSRN Scholarly Paper No. 3748491). https://papers.ssrn.com/abstract=3748491
  • Alltech Magazine. (2024, September 29). Inside China’s Electric Vehicle Revolution: A Closer Look. https://alltechmagazine.com/inside-chinas-electric-vehicle-revolution/
  • Amighini, A. (2017). China’s Belt and Road: A Game Changer? ISPI.
  • Asian Infrastructure Investment Bank. (2024a). About AIIB: Introduction. Who We Are. https://www.aiib.org/en/about-aiib/index.html
  • Asian Infrastructure Investment Bank. (2024b). Members of the Bank. Governance: Members and Prospective Members of The Bank. https://www.aiib.org/en/about-aiib/governance/members-of-bank/index.html
  • Asian Infrastructure Investment Bank. (2024c). Overview—Infrastructure for Tomorrow—AIIB. Asian Infrastructure Investment Bank: Who We Are. https://www.aiib.org/en/about-aiib/who-we-are/infrastructure-for-tomorrow/overview/index.html
  • Asian Infrastructure Investment Bank. (2024d). Project Summary—Projects—AIIB. Asian Infrastructure Investment Bank. https://www.aiib.org/en/projects/summary/index.html
  • Best, R. (2024). Most used currencies SWIFT 2024. Statista. https://www.statista.com/statistics/1189498/share-of-global-payments-by-currency/
  • BRICS Information Centre. (2014). Treaty for the Establishment of a BRICS Contingent Reserve Arrangement. University of Toronto. http://www.brics.utoronto.ca/docs/140715-treaty.html
  • BRICS Information Portal. (2023). History of BRICS. BRICS. http://infobrics.org
  • Callinicos, A. (2014). Emperyalizm ve Küresel Ekonomi Politik (İ. Ata, Trans.). Phoenix Publications.
  • CBDC Tracker. (2023). E-CNY (China) Digital Currency | CBDC Tracker. Central Bank Digital Currency (CBDC) Tracker. https://cbdctracker.org/currency/china-e-cny
  • Chow, D. (2016). Why China Established the Asia Infrastructure Investment Bank. Vanderbilt Journal of Transnational Law, 49(5), 1255.
  • CNBC-e. (2024). Çin’de borsadaki şirketlerin yüzde 99’u devlet desteği alıyor: Teknoloji sübvansiyonları ABD ve AB’yi geride bırakıyor. CNBC-e. https://www.cnbce.com/haberler/cinde-borsadaki-sirketlerin-yuzde-99u-devlet-destegi-aliyor-teknoloji-subvansiyonlari-abd-ve-abyi-geride-birakiyor-h2703
  • Dilek, Ş., & Ayar-dilek, İ. (2022). THE AMERICAN HEGEMONY BETWEEN THE RISE OF NEO-PROTECTIONISM AND LIBERAL ECONOMIC ORDER. Elektronik Sosyal Bilimler Dergisi, 21(81), Article 81. https://doi.org/10.17755/esosder.974697
  • Etzioni, A. (2016). The Asian Infrastructure Investment Bank: A Case Study of Multifaceted Containment. Asian Perspective, 40(2), 173–196.
  • Hao, K., Han, L., & Li, (Tony) Wei. (2022). The impact of China’s currency swap lines on bilateral trade. International Review of Economics & Finance, 81, 173–183. https://doi.org/10.1016/j.iref.2022.05.004
  • Harvey, D. (2005). The New Imperialism (1st ed.). Oxford University Press.
  • He, L. (2023). China Makes Major Push in its Ambitious Digital Yuan Project. CNN. https://www.cnn.com/2023/04/24/economy/china-digital-yuan-government-salary-intl-hnk/index.html
  • International Monetary Fund. (2024a). International Monetary Fund’s Financial Statements and the Quarterly Reports on IMF Finances. IMF. https://www.imf.org/-/media/Files/Data/IMF-Finance/Quarterly-Financial-Statements/2024/fy25q1-quarterly-financial-report.ashx
  • International Monetary Fund. (2024b). World Economic Outlook (April 2024)—GDP, current prices. International Monetary Fund. https://www.imf.org/external/datamapper/NGDPD@WEO
  • Jones, L., & Zeng, J. (2019). Understanding China’s ‘Belt and Road Initiative’: Beyond ‘Grand Strategy’ to a State Transformation Analysis. Third World Quarterly. https://doi.org/10.1080/01436597.2018.1559046
  • Kılıçer, A. A. (2023). Transatlantic Policy Quarterly: BRICS: Past, Today and, the Future. 22(4). https://doi.org/10.58867/VVTA8213
  • Kroeber, A. (2024). Unleashing “New Quality Productive Forces”: China’s Strategy for Technology-Led Growth. Brookings. https://www.brookings.edu/articles/unleashing-new-quality-productive-forces-chinas-strategy-for-technology-led-growth/
  • Levine, D. A. (2020). Made in China 2025: China’s Strategy for Becoming a Global High-Tech Superpower and its Implications for the U.S. Economy, National Security, and Free Trade. Journal of Strategic Security, 13(3), 1–16.
  • Li, L. (2018). China’s manufacturing locus in 2025: With a comparison of “Made-in-China 2025” and “Industry 4.0.” Technological Forecasting and Social Change, 135, 66–74. https://doi.org/10.1016/j.techfore.2017.05.028
  • Lin, Z., Zhan, W., & Cheung, Y.-W. (2016). China’s Bilateral Currency Swap Lines. China & World Economy, 24(6), 19–42. https://doi.org/10.1111/cwe.12179
  • McBride, J., Chatzky, A., & Berman, N. (2023). China’s Massive Belt and Road Initiative. Council on Foreign Relations. https://www.cfr.org/backgrounder/chinas-massive-belt-and-road-initiative
  • McDowell, D. (2019). The (Ineffective) Financial Statecraft of China’s Bilateral Swap Agreements. Development and Change, 50(1), 122–143. https://doi.org/10.1111/dech.12474
  • Ministry of Foreign Affairs of the People’s Republic of China. (2022). BRICS Countries. BRICS 2022 China. http://brics2022.mfa.gov.cn/eng/gyjzgj/jzgjjj/
  • Nedopil, C. (2023). Countries of the Belt and Road Initiative (BRI). Green Finance & Development Center. https://greenfdc.org/countries-of-the-belt-and-road-initiative-bri/
  • Nedopil, C. (2024). About the Belt and Road Initiative (BRI). Green Finance & Development Center. https://greenfdc.org/belt-and-road-initiative-about/
  • New Development Bank. (2023a). About NDB. New Development Bank. https://www.ndb.int/about-ndb/
  • New Development Bank. (2023b). Our History. New Development Bank. https://www.ndb.int/about-ndb/history/
  • New Development Bank. (2024). Agreement on the New Development Bank. New Development Bank: Boards. https://www.ndb.int/wp-content/uploads/2022/11/Agreement-on-the-New-Development-Bank.pdf
  • Nwaokocha, A. (2023). WeChat integrates digital yuan into its payment platform. Cointelegraph. https://cointelegraph.com/news/wechat-integrates-digital-yuan-into-its-payment-platform
  • O’Neill, J. (2001). Building Better Global Economic BRICs. Goldman Sachs, 66. https://www.goldmansachs.com/insights/goldman-sachs-research/building-better
  • Ozanne, B. (2024). What Is CIPS? A Guide to China’s Cross-Border Payment System. Statrys. https://statrys.com/blog/what-is-cips-china
  • Pehamberger, D. (2024). Controlling Tomorrow: China’s Dominance Over Future Strategic Supply Chains. The Diplomat. https://thediplomat.com/2024/08/controlling-tomorrow-chinas-dominance-over-future-strategic-supply-chains/
  • People’s Bank of China. (2021). Progress of Research and Development of E-CNY in China. People’s Bank of China, 15.
  • Press Information Bureau Government of India Cabinet. (2015). Agreement on the New Development Bank and the BRICS Contingent Reserve Agreement. Press Information Bureau Government of India Cabinet. https://pib.gov.in/newsite/PrintRelease.aspx?relid=115907
  • PwC. (2017). The World in 2050. PwC. https://www.pwc.com/gx/en/research-insights/economy/the-world-in-2050.html
  • Rod, Z. (2024). Debt or Diplomacy? Inside China’s Controversial Loans to Sri Lanka, Laos, and Malaysia. The Diplomat. https://thediplomat.com/2024/10/debt-or-diplomacy-inside-chinas-controversial-loans-to-sri-lanka-laos-and-malaysia/
  • Scott, S. V., & Zachariadis, M. (2013). The Society for Worldwide Interbank Financial Telecommunication (SWIFT): Cooperative governance for network innovation, standards, and community. Routledge. https://doi.org/10.4324/9781315849324
  • Sina Finance. (2021, June 18). Digital RMB Can Be Withdrawn from ATMs. ICBC and Agricultural Bank of China Are The first to Support It. Sina Finance. https://finance.sina.cn/2021-06-18/detail-ikqcfnca1808860.d.html
  • Sun, Z. (2023). More Foreign Banks join China’s CBDC Pilot Trials. Cointelegraph. https://cointelegraph.com/news/more-foreign-banks-join-china-cbdc-pilot-trials
  • SWIFT. (2024). Swift History. Swift. https://www.swift.com/about-us/history
  • Tett, G. (2010). The story of the Brics. Financial Times. https://www.ft.com/content/112ca932-00ab-11df-ae8d-00144feabdc0
  • The Observatory of Economic Complexity. (2024). China (CHN) Exports, Imports, and Trade Partners. The Observatory of Economic Complexity. https://oec.world/en/profile/country/chn
  • The State Council of the People’s Republic of China. (2017). Building a World Manufacturing Power—Premier and Made in China 2025 Strategy. The State Council of the People’s Republic of China. https://english.www.gov.cn/premier/news/2017/01/29/content_281475554068056.htm
  • The State Council of the People’s Republic of China. (2024). China’s Central Bank Signs 40 Currency Swap Agreements with Foreign Counterparts. https://english.www.gov.cn/news/202402/16/content_WS65cef3efc6d0868f4e8e40d3.html
  • Thomala, L. L. (2023). WeChat: Active users worldwide 2023. Statista. https://www.statista.com/statistics/255778/number-of-active-wechat-messenger-accounts/
  • University of Toronto. (2009). Joint Statement of the BRIC Countries’ Leaders (Yekaterinburg, Russia, June 16, 2009). http://www.brics.utoronto.ca/docs/090616-leaders.html
  • University of Toronto. (2023). XV BRICS Summit Johannesburg II Declaration: 2023. http://www.brics.utoronto.ca/docs/230823-declaration.html
  • Ward, O., & Rochemont, S. (2019). Understanding Central Bank Digital Currencies (CBDC). Institute and Faculty of Actuaries, 1–45.
  • Wen, Y. (2015). China’s Industrial Revolution: Past, Present, Future. Federal Reserve Bank of St. Louis. https://www.stlouisfed.org/dialogue-with-the-fed/chinas-industrial-revolution-past-present-future
  • World Bank. (2024). IBRD financial statements: June 2024. World Bank.
  • Zakaria, F. (2008). The Post-American World. W.W. Norton.
There are 58 citations in total.

Details

Primary Language English
Subjects Political Economy Theory, International Politics
Journal Section Makaleler
Authors

İlyas Balcı 0000-0003-2221-6219

Early Pub Date September 13, 2025
Publication Date September 19, 2025
Submission Date November 7, 2024
Acceptance Date April 26, 2025
Published in Issue Year 2025 Volume: 9 Issue: 3

Cite

APA Balcı, İ. (2025). China’s Strategic Challenge to Hegemony for a New Global Order. Politik Ekonomik Kuram, 9(3), 1083-1096. https://doi.org/10.30586/pek.1580803

This work is licensed under a Creative Commons Attribution 4.0 International License.