International Crises in the Context of US-China Rivalry and Power Transition Theory: Power Resources vs. Influence
Date Issued
2011
Date
2011
Author(s)
Lo, Hui-Chun
Abstract
The rise of China is one of the most important issues in international relations since the 1990’s. Power transition theory, which focuses on power shifts in relations between an existing hegemon and a rising great power, is accordingly receiving academic attention again. In the process of China’s rise, there have been two international financial crises—the Asian Financial Crisis (1997-1999) and the Global Financial Crisis (2008-2009). Both brought considerable changes to the power distribution among great powers. Power transition theory always emphasizes great power wars to the exclusion of the impact of periodic regional or global financial crises on power transitions. However, in this globalized era, the absence of great power wars had limited the explanatory effectiveness of power transition theory. Furthermore, power transition theory defines great powers’ relative status in the international system only in terms of power resources, especially military power, ignoring the exertive and relational aspects of power. As a matter of fact, how great powers exert their power resources will have an effect on other nations’ subjective perceptions of their status and influence. These subjective perceptions are related to great powers’ influence. The influence of great powers shapes the interactions between other nations and themselves. In times of crisis, the exertive and relational aspects of power become more important. This thesis uses the ebb and flow of great powers’ power resources and influence caused by the Asian Financial Crisis and Global Financial Crisis to explain China’s tremendous leap in international status in the post-crisis period and to discuss the power transition between the United States and China. Moreover it also provides new insights to power transition theory and its application.
Subjects
the rise of China
Asian financial crisis
Global financial crisis
Power Transition Theory
Type
thesis
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