History has proved that communism failed at many levels during the first global competition between the capitalist and socialist camps during the Cold War. As a result, the socialist camp was dissolved. China is one of the few communist countries to survive in the twenty-first century. The Chinese economy was on the verge of collapse in the 1970s but began to take off in the early 1980s, guided by the China model. China became the world’s second largest economy in 2010 and has quickly expanded its enormous global market and political influence. The second global competition between the capitalist countries and China has started. The second global competition is in fact between the China model and the Washington Consensus. Will Western hegemonies end as the result of the second global competition? Will China be able to rewrite the international rules? Will the Chinese communist political system collapse during the competition? What should the West do to the China model? This book will explore the implications of the China model in the context of the second global competition and argues that the downturn of the China model and China’s global expansion are the two sides of the same coin. The China model is losing its power but not broken. China would be able to become even stronger, if it could reshape the philosophical foundation of the China model. The future of Western hegemony will depend on how the West understands the China model and deals with it. This book addresses these aspects and more.