Power Transition Theory Revisited: When Rising China Meets Dissatisfied United States

Abstract

Dissatisfaction is a major concept in power transition theory, which postulates that a rapidly rising power tends to be dissatisfied with the international system and would thus attempt to reform or replace it, whereas the hegemonic power would, by default, be satisfied with and work to maintain the status quo. This paper, however, offers an alternative outlook on the reigning-rising power dynamics by examining the conditions for and implications of hegemonic dissatisfaction and rising power satisfaction. It argues that although China, as a potential systemic challenger harboring grievances against the existing global regimes, has been a recurrent subject for studies, it is the United States, the established hegemon, that appears increasingly dissatisfied with the status quo. The U.S. dissatisfaction is informed by a set of internal and external factors often justified with a reference to China as a challenger, and is manifested in a number of anti-system strategies, including unconventional diplomatic rhetoric, as well as withdrawal from various international institutions or attempts to undermine them. The U.S. discontent, as contrasted with China’s satisfaction as a rising power, has a number of potential geopolitical and economic implications at the bilateral, regional, and global levels, endangering the viability and sustainability of the universally accepted political and economic regimes.