China and the Global Financial Crisis: A Comparison with Europe, 1st Edition (Paperback) book cover

China and the Global Financial Crisis

A Comparison with Europe, 1st Edition

Edited by Jean-Pierre Cabestan, Jean-François Di Meglio, Xavier Richet


176 pages | 23 B/W Illus.

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This book examines China’s response to the 2007-2008 global financial crisis, and the resulting new status acquired by China within the international economy. It considers the things China did to weather the crisis, discussing the stimulus package put in place by China and how China’s banks coped, but above all examines the measures which countries outside China look to China to put in place in order to better encourage and secure world-wide economic recovery, measures such as currency revaluation, tax reform and greater stimulation of domestic demand. The book contrasts China’s response to the crisis, and China’s increasingly central role in the world economy, with the responses of the European Union. The book also assesses China’s increasingly important regional role, in particular its dialogue with the new Japanese government, and China’s positioning towards Southeast Asia, and also discusses the growth of Chinese foreign direct investment.

Table of Contents

Introduction Jean-Pierre Cabestan, Jean-François Di Meglio & Xavier Richet Part 1: China’s Adaptation, Reforms and their Limits 1. The Global Financial Crisis and China's Domestic and International Political Options Jean-Pierre Cabestan 2. Labor Pains: Chinese Economic Policy in an Age of a Shrinking Work Force Arthur Kroeber 3. An Assessment of China's Relative Fiscal Strength Jean-Charles Sambor 4. An Assessment of China's Banking System Reform Alicia Garcia-Herrero and Banco Bilbao Vizcaya Argentaria 5. Three Chinese Banks among Top Ten Banks Worldwide: Illusion or Reality? Philippe Aguignier 6. China's Tax Policy Response to the Global Crisis Wei Cui Part 2: China and its Regional and International Environment Since 2008 7. China and Post-Crisis Regional Cooperation in East Asia Françoise Nicolas 8. The Invention of a "Currency of the Third Type": Yuan's Internationalization Without Convertibility Jean-François Di Meglio Part 3: The Global Financial Crisis, Europe and China 9. Europe and China Respond to the Crisis: Policies, Performances, and Issues Xavier Richet 10. Trade Imbalances and the Crises of 1929 and 2007: China in the United States' Shoes? Antoine Brunet and Jean-Paul Guichard

About the Editors

Jean-Pierre Cabestan is Professor and Head, Department of Government and International Studies, Hong Kong Baptist University, Hong Kong.

Jean-François Di Meglio is President of the Asia Centre, France

Xavier Richet is Professor at the University Sorbonne Nouvelle, France

About the Series

Routledge Studies on the Chinese Economy

The primary aim of this series is to publish original, high quality, research-level work, by both new and established scholars in the West and East, on all aspects of the Chinese economy, including studies of business and economic history. Works of synthesis, reference books and edited collections will also be considered. Submissions from prospective authors are welcomed.

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Subject Categories

BISAC Subject Codes/Headings:
SOCIAL SCIENCE / Ethnic Studies / General
SOCIAL SCIENCE / Regional Studies