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<p>China’s re-entry into the World Bank (WB) in 1980 was a joint endeavor by WB and Chinese reform-minded leaders. This article gives a chronicle of major events which paved the way for the People’s Republic of China to take over China’s seat in the WB. It describes in some detail the role played by Robert McNamara, Shahid Husain, Edwin Lim and Javed Burki on the WB’s side, and Deng Xiaoping, Gu Mu and the Bank of China on the Chinese side in engineering Beijing’s re-entry and in establishing a relationship with the WB based on mutual trust. It uncovers how the issue of Taiwan’s debt to the WB at the time, a potentially serious obstacle to the PRC’s WB membership, was successfully resolved. The article ends with reflections on China’s engagement with the Bretton Woods System.</p>
</abstract>

Why and How the People’s Republic of China Entered the World Bank in 1980 and Afterthoughts

<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>If globalization means openness to the free movement of goods, capital, and labor across international borders, then globalization is declining. The forces of protectionism are on the rise and barriers to trade and investment are proliferating. The fundamental cause is structural – the erosion of American hegemony as a result of a shift in the global distribution of power. At the end of the Cold War, the US was the world’s only great power. But the global diffusion of technological innovation has allowed the emergence of challengers. Now, the locus of world power has shifted to Asia. Attempting to preserve American primacy, the US is pursuing nationalist, mercantilist trade policies that undermine the liberal economic order established after WWII. Tariffs, export controls, and restrictions on FDI have replaced the free flow of goods and capital. Adam Smith and David Ricardo have been replaced by Alexander Hamilton and Niccolò Machiavelli. The US is enlisting its allies to reform the rules of the international economic order. It intends to transform the G7 into a steering committee of the free world. Such an action is likely to provoke an equal and opposite reaction, leading to a world of exclusive economic blocs. The resulting fragmentation will spell an end to the liberal multilateral order known as globalization.</p>
</abstract>

The Decline and Fall of Globalization

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Volume 2 (2024): Issue 1 (January 2024)

Volume 1 (2023): Issue 1 (September 2023)

Economic Diplomacy

Economic Diplomacy is an international and interdisciplinary journal devoted to research on economic diplomacy. It provides a platform for scholarly analysis addressing the intersection of international relations, diplomacy, economics and business.  Economic Diplomacy aims to publish high-quality, innovative and original research on economic diplomacy. It is hoped that the journal will serve as a bridge between the academic community and the practitioners worldwide.  Studies examining significant topics concerning the theories, methods and policies of economic diplomacy are within the scope of the journal. Other relevant themes include economic statecraft, geoeconomics, business diplomacy, international economic policies, and negotiations.  Economic Diplomacy encourages submissions on new theories, methods, or perspectives of economic diplomacy, as well as submissions combining theoretical approaches with policy analysis in an original and creative manner. Comparative cross-country and historical investigations are particularly welcome. Empirical research and conceptual papers are equally preferred.  Archiving  Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections.  Plagiarism Policy  The editorial board is participating in a growing community of Similarity Check System's users in order to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscripts screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process. 

Economic Diplomacy

Volume 2 (2024): Issue 1 (January 2024)

Why and How the People’s Republic of China Entered the World Bank in 1980 and Afterthoughts

The Decline and Fall of Globalization

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