An political economy analysis on the possibility of the People's Republic of China becoming a hegemonic power: The period 1978-2020

In the study, today's hegemonic power relations were examined with economic and political theories with the evaluation of economics, social secondary quantitative and qualitative data sources. After the 1978 reforms, PRC joined the global capitalist economy structure by the development of global trade. Even if the PRC always doesn't claim a global power in any international platform, the power network that the country tries to reach shows that it has global or regional plans as of today and than global plans. The PRC doesn't even have full dominance over the autonomous regions it counts within the country's borders. The PRC doesn't have the desired level of control over the global currency. It is getting harder to protect the capital created by the wealth of labor. The country's population is aging. The first step for the PRC to become one of the globally influential countries is to eliminate the dominance of the dollar and to create a new currency with core countries that will compromise. The PRC wants to weaken the global dominance of the USA with the currency created. The Belt and Road Initiative is the most important Project developed to lead the global trade network. Study's findings emerges as follows: China is one of the countries closest to being a hegmeonic power, but the obstacles that the country has to overcome are so much. The PRC is one of the most important players in the current neo-liberal economic order, but it's not in a position to set the rules.