A Study on the Rise of China in East Asia in terms of the Theory of Hegemonic Stability

다국어 초록 (Multilingual Abstract)

The notable economic development of China has been an important topic of discussion in the world political economy. The rise of China has both negative and positive aspects. This thesis examines China’s economic growth carefully to evaluate its impact on the world economy, especially on the East Asian economy.
This thesis argues whether China can play an important role of stabilizing the East Asian economy as a leader without causing any conflict with the U.S. China has a number of problems to be a leader, such as territorial disputes with neighboring countries, domestic political problems, and the oil shortage problem. However, China has endeavored to overcome those matters. China has cooperated with neighboring countries to resolve the problems. Especially, China is actively participating in regional organizations such as APEC and ASEAN+3. These efforts show that China can be a leader to who can contribute to the economic stability of East Asia. China will not make any troubles with the U.S. because China has focused on the economic development. Therefore, China is expected to keep good relations with economic partners, especially the U.S.
This thesis discusses the two hegemons: Great Britain and the United States.
The careful research of the two hegemons is very crucial to consideration of China’s role as a leader in East Asia. The rise and decline of the British hegemony and the American hegemony prove that a single hegemon alone is not capable of maintaining the economic stability. Therefore, economic interdependence between China and the neighboring countries is very significant to develop the East Asian economy in a stable way. The viewpoints of neighboring countries such as Japan, South Korea, and ASEAN countries on the rise of China have been changed from viewing China as a threat to an opportunity. In East Asia, a leader is needed to stabilize the region’s economy. China can be a hegemonic power to promote the East Asian economy in cooperation with neighboring countries.