China and the Credit Crisis: The Emergence of a New World Order

China and the Credit Crisis: The Emergence of a New World Order

by Giles Chance
     
 

The credit crisis has greatly weakened the West's economic and financial supremacy, and accelerated the shift of power from the West to the East, led by China. China and the Credit Crisis: The Emergence of a New World Order is the first book to examine the important part played by China in the run-up to the crisis, and to discuss in detail China's new

Overview

The credit crisis has greatly weakened the West's economic and financial supremacy, and accelerated the shift of power from the West to the East, led by China. China and the Credit Crisis: The Emergence of a New World Order is the first book to examine the important part played by China in the run-up to the crisis, and to discuss in detail China's new and much more significant world role in the aftermath of the crisis. The book describes how policymakers misunderstood the global economic supply shock which China's emergence produced, and which laid the economic foundation for the credit crisis. It analyzes the effects of the crisis on China's own economy, and shows how China is defining its new role with respect to global governance, the role of the dollar, and its relations with the United States, Asia and the emerging world.

The author throws light on the rationale that guides China's actions on the global stage, by placing recent developments in their historical and economic context. The book also discusses how China will adapt to its new global position as a superpower ranking alongside the United States, and the consequences of China's sudden ascent, both for China and for the rest of the world.

Editorial Reviews

From the Publisher
“Informative and useful…” – China International Business, China

 “Giles Chance adds a new dimension to our understanding of the financial meltdown by highlighting the role of China in precipitating the credit crisis.” – Business Today, India

 “…Fascinating insight into how China thinks and works.” – MoneyLIFE, India

 “Chance’s book offers the valuable insight gained from 20 years of business experience on the ground in China…” – Jing Daily, US

"Imperative read. " —- The Hindu , India

“…In ‘China and the Credit Crisis: The Emergence of a New World Order,’ author Giles Chance says he has looked deeper into the question and tried to interpret how his conclusions might reshape global economics.”  – Asia Wall Street Journal

Product Details

ISBN-13:
9780470825075
Publisher:
Wiley
Publication date:
03/01/2010
Pages:
228
Product dimensions:
5.90(w) x 8.90(h) x 0.90(d)

What People are saying about this

From the Publisher
Giles Chance does a masterful job at weaving his immense knowledge of China and economics into a convincing case that China's emergence into the world economy, especially in regard to its impact on the global supply of consumer products, was a key factor in the crisis.  If policy makers had recognized the real impact of China, it is likely that monetary policy and the path of the world economy would have been very different.  This book should be read by anyone who truly wants to truly understand all aspects of this amazing economic period we have experienced.
— Robert G. Hansen
Senior Associate Dean, Norman W. Martin 1925 Professor of Business Administration, Tuck School of Business, Dartmouth College, N.H., USA

The author, with his unique experience and understanding [of China], has raised interesting issues in the book. A recommended read for anyone who has been affected by the Credit Crisis, as well as those with a professional research interest in this subject. 
Fu Xuedong
Chairman, Guotai Junan Allianz Fund Management Co. Ltd., Shanghai

A fascinating and authoritative account of the relationship between the banking crisis and the emergence of China, and as good an analysis as you'll get on the changes taking place in our world as a result.
Jolyon Connell
Founder and Editorial Director, The Week and MoneyWeek

Giles Chance is a keen observer of market developments and institutional change in the 25 years he has lived in China. His views about the probable developments in the next several decades are provocative.
Robert Aliber
Professor Emeritus of Economics and Finance, University of Chicago
Author,
The International Money Game

…the credit crisis has changed the balance of global financial power. This has altered, and in some ways strengthened, China's global position. Giles analyzes this new situation in his book, which I think is the first one to cover this subject directly and in some depth...I recommend this important book to people around the world who want to understand better China's emergence as a superpower. —Zhang Wei Ying
Dean, Guanghua School of Management, Peking University

…In this clear-eyed and thoughtful book, Giles Chance, who has lived and worked in China for much of the past two decades, delivers a penetrating portrait of China at this crucial juncture in its history…We learn how China's emergence will shake up the existing world order, how the world's most populous nation is set to lead Asia economically and diplomatically, and how wealth and influence will shift from the West to the East…
James Kynge
Editor, FT China Confidential
Author,
China Shakes the World

Meet the Author

Giles Chance is a visiting professor at the Guanghua Business School at Peking University, where he first taught a class in 1999. He met his Chinese wife at the World Bank in 1984, and first visited China in 1988. Since 1989, he has advised numerous foreign companies and investors in China, and has assisted many Chinese companies to source technology from Western companies, and raise capital in the Hong Kong and London markets. Giles was educated at St. Andrew's University in Scotland and at the Tuck School of Business at Dartmouth College in the United States, where he was a Fulbright Scholar.

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