By Timofey Bordachev, Program Director of the Valdai Club
The dramatic events of the first months of 2026 offer a useful lens through which to assess the evolving role of the world’s major powers. Among those often cast as architects of a new international order, China stands out, arguably even ahead of Russia and the United States, both of which remain preoccupied with their rivalry in Europe.
For decades, China’s rise has been one of the central forces shaping global change. As far back as the late 20th century, Henry Kissinger argued that China’s growing importance would prove more consequential than even the end of the Cold War. That judgment now appears prescient. Drawing on vast domestic resources and sustained inflows of foreign investment, Beijing has, in a remarkably short time, established itself as a leading economic power and a confident political actor on the global stage.
A decisive step in this transformation came with the launch of the Belt and Road Initiative in 2013. This ambitious project was designed not only to expand China’s economic reach but to position Chinese capital and infrastructure as the engine of development across entire regions. For many countries in the Global South, it offered an alternative to Western-led models, which have often been accompanied by political conditionality.
In parallel, Beijing has advanced broader concepts such as a “community of shared future for mankind” and new approaches to international security. These ideas have found receptive audiences among a wide range of states in Asia, Africa, and Latin America, particularly as China has deepened its investment presence and become an indispensable economic partner.
Against this backdrop, China has increasingly been viewed as a credible alternative to the United States and the West more broadly. Western powers, after all, have long been accused of cloaking self-interest in the language of liberal economic ideals. China, by contrast, has emphasized non-interference and support for political stability in partner countries. Whether entirely accurate or not, this perception has strengthened Beijing’s appeal.
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