The U.S. Congress’ inability to pass fair IMF reforms is partly responsible for China’s creation of the Asian Infrastructure Investment Bank (AIIB). While the U.S. is not at the center of this newly created institution. America still has time to develop the consensus in Congress to strike a balance between America’s leadership in the international system and the demand of others to have enough space, not only to survive in the system, but also to prosper.

The current international situation is rife with change, uncertainty and crisis in the Middle East, Asian Pacific, and Europe, largely due to shifting world power. Chen Xiangyang overviews changes and contradictions around the globe from a realist perspective on power relations.

China’s Foreign Minister Wang Yi recently presided over a discussion on international security at the UN in New York. The principle of unity and multilateral cooperation, the basis of the original UN Charter, was the foreground to China’s continued calls for cooperation on investments, terrorism, and military trust mechanisms.

President Obama is very cautious in using military force. The transforming foreign policy strategy for the U.S. has been to share the cost of hegemony. For the United States, the main risk comes from the possibility of lacking confidence in U.S. strength among the allies and partners, but the strong leadership has reassured that the question is not whether the U.S. will lead, but how it will.

China is both an important contributor to and overall beneficiary of the post-war international order. In facing new challenges, China should take the opportunity offered by the 70th anniversary of World War II, and make an effort to safeguard and improve the post-war international order.