A global-governance challenge for China

New Haven

CHINA is making waves again, not just in the South China Sea, but in the world of development finance as well. Just as the economy shifts support from external to internal demand, the nation's worldview is going through an equally dramatic transformation.

The inward focus on domestic stability, one of the hallmarks of the "reforms and opening up" of Deng Xiaoping during the 1980s, is now being augmented by an outward-facing focus on China's emerging role as a global leader, a key ingredient of the "China Dream" espoused by Xi Jinping, General Secretary of the Communist Party of China. These two sides of the same coin underscore the daunting challenges China faces in its search for a more sustainable development strategy.