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.

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

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