Browsing by Author "TAMAM, Aybige"
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Item ADDRESSING THE UNITED STATES-CHINA HEGEMONIC STRUGGLE FROM THE PERSPECTIVE OF THIRD WAVE HEGEMONY STUDIES(2021-10-17) TAMAM, Aybige; ELİKÜÇÜK YILDIRIM, NilgünConventional theories of hegemony, the most established ones being power transition theory and hegemonic stability theory, have their limitations and seem to fall short of explaining the contemporary developments in the international arena, particularly the United States-China hegemonic struggle in the field of economy in the context of this study. This paper uses a new theoretical framework, that is the Bourdieusian field-oriented approach to hegemony which belongs in the category of the newly emerging third wave hegemony studies, to explain the hegemonic struggle between the two countries in the field of economy with the Belt and Road Initiative and Asian Infrastructure and Investment Bank as case studies. The main argument of this study is that the AIIB is utilized primarily as economic capital, and potentially as cultural and symbolic capital; and the BRI is utilized primarily as economic capital, and potentially as cultural, geopolitical, military, and symbolic capital in the field of economy by China to compete with the US. As gathering different types of capitals amounts to having meta-capital, which implies the ability to arrange the exchange ratio among variants of capital and involves having the potential to shape a field and brings about hegemony ultimately, taking a close picture of China's current position in the hierarchical structure of the field of economy at the international level by using a qualitative analytical method is aimed with this study. The fact that China's power is not currently at a preeminent level in the field of economy at the international level and the difficulty of making a long-term projection of the future notwithstanding, the paper concludes that the power of China in the field of economy shows a continuous increase through utilization of the AIIB and BRI as versatile capitals and that China shows signs of having appetite for being the leading actor in the field by conforming to the principles of the existing international economic order to a substantial extent, although we see certain attempts by China to make minor modifications to it.