Includes bibliography (69-80 p.)

'Abstract This thesis will revolve around the growing competition that is present between the United States (US) and China in the global political system. It focuses particularly, on the discussion in the literature on whether China is replacing the US as the new global hegemonic power or not, by looking into various characteristic elements of being a hegemonic power i.e. economy, military and soft power. According to one line of thought, China is overtaking the US as the world's hegemon, while a competing approach argues that China still lacks the proper qualifications in overtaking the US as the world's hegemonic power. In the past too, we have witnessed other nations trying to surpass the US as the world's superpower, but through its dominance in various aspects, it was able to reinvent itself and maintain its hegemonic position in the international order. Against this backdrop, this thesis reviews the competition between the US and China in terms of military, economic and soft power strength, and aligning itself with the second view above, argues that the US is more likely to maintain its hegemony in the near future. Keywords: United States, China, hegemony, great power competition, global politics, soft power'