ABSTRACT
The chapter aims to provide a framework of conceptualizing the on-going phenomenon in which the global rise of China and emerging powers has reshaped the terrain and parameters of social, economic and political relations at the global levels, exerting pressure on the resilient and hegemonic capacities of the US-led world order. Through deploying the conceptual notion of “hegemony” and reviewing its applications by various mainstream IR and IPE theories in interpreting the above situation, the chapter deems it to be necessary to go beyond the traditional perspectives of IR and IPE and to bring in new conceptual tools in order to better comprehend and interpret the profound transformation of the existing world order. As a contribution, the chapter proposes an alternative conceptual framework – “interdependent hegemony” – which can better catch the dynamic nexus between the role of China and emerging powers as a counter-hegemonic, socio-political force and the hegemonic structural power of the existing international order. This alternative concept foresees the trend that the existing powers and the emerging powers are intertwined in a constant process of shaping and reshaping the world order in the nexus of national interest, regional orientation, economic and political agenda, security imperative and potential conflicts.
