Political Economy of Harmonious World Order and its Impact on Global Governance

Abstract

This paper examines the political economy of Chinese theory and practice of global governance -harmonious world order- and its implications for global development governance. It does so by contrasting it with the neoliberal framework underpinning the global development governance under liberal world order.  It argues that neoliberal global governance prioritizes the interests of the US and global corporate interest which make it exclusionary, uneven, and driven by market logic that often marginalizes developing countries. Developing a theoretical framework around the concepts of legitimacy, representation, and inclusiveness it critiques neoliberal global governance and argues that China’s harmonious world order emphasizes mutual benefit, respect for diversity, non-interference, and cooperative development. Through analysis of principles such as win–win cooperation and South–South engagement, supported by examples from China’s development practices, the paper demonstrates that this framework has the potential to foster more inclusive and participatory global governance. The study concludes that adopting elements of the harmonious world approach may contribute to a more balanced, pluralistic, and equitable international order.

Keywords: Global Governance, Neoliberal International Political Economy, Global South, Harmonious World Order