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Like authoritarian governments in East Asia – such as Lee Kuan Yew’s regime in Singapore and Park Chung-hee’s government in South Korea – China’s one-party, authoritarian government used its power to implement good economic policies, thereby achieving both political stability and strong economic growth. Pax Americana has survived for so long, because many countries, including China’s neighbors, rely heavily on the US for trade, finance, technology, and security. They will be reluctant to accept Pax Sinica, unless China offers them something better. And that must begin with pax.

https://www.project-syndicate.org/commentary/can-china-lead-the-world-by-lee-jong-wha-2021-07