ABSTRACT
This chapter explores the major implications of China's geoeconomic strategy on the international system that has shaken the foundations of the privilege that the West has enjoyed for the past 500 years. China's increasingly sophisticated economic statecraft makes it the most important protagonist for Eurasian integration, which involves many of the world's largest infrastructure projects and new financial/investment mechanisms that are challenging the Bretton Woods system. The chapter addresses China's Silk Road project as an effort to challenge the existing world order. New land corridors and maritime transportation corridors, which are funded by Chinese-led financial institutions and increasingly denominated in the yuan, have been developed to circumvent the US. The chapter concludes that China's geoeconomic strategy reveals certain contradictions since the 'peaceful rise' was excessively reliant on belligerent economic statecraft, while replacing US global hegemony with the Silk Road project compels a more benign strategy.
