Minxin Pei

How might coronavirus reshape geopolitics? For some, the answer is clear: China is on the rise. While Washington embraces “America First” and abdicates its global leadership role, they argue, Beijing is stepping up to fill the void. By providing material assistance to struggling nations, organizing world leaders, and trumpeting its own virus response, China is vying for power and influence. But others see a global future where Beijing’s standing is diminished, not bolstered. They argue the Chinese Communist Party’s mismanagement…

For all appearances, China has emerged unscathed from the global economic crisis, in stark contrast to its biggest debtor, America. China’s admirers point to its ability to mobilize state resources, quick decision-making and business-friendly environment as reasons for its economic ascendency. But can its brand of state-directed capitalism overcome rampant corruption and the threat of growing inequality, or will the American model of innovation and free markets prevail?