Olivia Fu ‘22 Economic and Financial Affairs Council

Olivia Fu ‘22
Economic and Financial Affairs Council

 

Olivia Fu

Year: Sophomore at Harvard
Concentration: Government and East Asian Studies, interested in diplomacy and economic development in the region
Favorite movie: Compelled to say Lady Bird, since it was based off my school in Sacramento (west coast best coast!)
MUN experience: This will be my first MUN conference- incredibly excited to chair the Economic and Financial Committee!
Favorite hobbies: Going to concerts, soaking up the sun, dabbling in dance and music, traveling and taking lots of videos while doing so
Favorite food: Ramen, pasta, scallion pancakes, fresh chocolate chip cookies... always down to try something new
What are you most excited for at conference? Meeting all the delegates and experiencing WorldMUN in Japan together!

Topic: The Rise of a New Economic Powerhouse - US and China Shifting the Global Order

The Economic and Financial Committee will discuss the implications of the rise of China in countries around the world, and optimal strategies for mutually-beneficial growth. Key cross-border projects, like the Belt and Road Initiative, will set the stage for conversation and dialogue between countries. We will closely examine opportunities for foreign direct investment (FDI) in member states and China’s uniquely selective terms of agreement. While China has made technologically-advanced infrastructure possible in developing countries, is it worth the perpetuation of political authoritarianism or the repression of human rights? There are not only significant economic factors at play, but also political and moral implications to consider when responding to China’s foreign investment policy.

The unprecedented rise of China has challenged the traditionally Western-centric global order, and now China has the potential to divide international systems. As China uses its economic prowess to gain hegemony, the United States has faced criticism that it is retreating from the world stage. What will be the effects of shifting economic dynamics between the two superpowers? Will tensions — manifest in trade wars and sanctions — lead to outright confrontation? The Thucydides Trap posits that confrontation between a rising power and a ruling power will result in war, as it has in 12 out of the 16 past cases. Yet in modern times, will a new economic powerhouse overturn the global order?