Hierarchical text classification is an essential yet challenging subtask of multi-label text classification with a taxonomic hierarchy. Existing methods have difficulties in modeling the hierarchical label structure in a global view. Furthermore, they cannot make full use of the mutual interactions between the text feature space and the label space. In this paper, we formulate the hierarchy as a directed graph and introduce hierarchy-aware structure encoders for modeling label dependencies. Based on the hierarchy encoder, we propose a novel end-to-end hierarchy-aware global model (HiAGM) with two variants. A multi-label attention variant (HiAGM-LA) learns hierarchy-aware label embeddings through the hierarchy encoder and conducts inductive fusion of label-aware text features. A text feature propagation model (HiAGM-TP) is proposed as the deductive variant that directly feeds text features into hierarchy encoders. Compared with previous works, both HiAGM-LA and HiAGM-TP achieve significant and consistent improvements on three benchmark datasets.