In the new world order, market power trumps military might. Can China compete?

China needs to adapt to a more competitive global environment driven by market power, technological innovation and institutional leverage, according to analysts at a leading Beijing-based think tank. These pillars were more critical than conventional military dominance or strengthening territorial control in the great power rivalry, particularly as Beijing sought to project itself as a stabiliser in an increasingly fractured international order, the analysts added. In an article this week, Fu...