Release date: 2009-12-16

Wiley Presents 'China and the Credit Crisis: The Emergence of a New World Order' - China’s Role in the Post-Crisis World

(PRZOOM - Press & Newswire) —  Singapore, Singapore, 2009-12-16 - This book examines the larger role that China will play in the recovery from the crisis and the post-credit crisis world, initially by continuing to provide growth to a world deep in recession, and later by sharing global economic


Did China cause the credit crisis? China’s accession to the WTO in 2001 set in motion a huge upheaval in the world economy and underpinned a global economic boom. Surging Chinese exports of consumer products brought lower prices to Western consumers and larger profits to multinationals, turning China into the largest financer of the developed world, while massive Chinese buying of commodities promoted strong growth in many commodity-rich but less-developed countries.

However, China’s emergence also helped create the conditions for the debt excesses which caused the crash of 2008. In hindsight, if financial policymakers had better understood the nature and extent of the shock brought by China to the world economy, more appropriate policies might have been put in place which could have mitigated the crash – or even avoided it.

Meanwhile, the impact of the credit crisis has pushed China from behind America’s shadow into a central position on the world stage.

China and the Credit Crisis: The Emergence of a New World Order (ISBN: 978-0-470-82507-5; John Wiley & Sons (Asia) Pte Ltd) is the first book to examine the important part played by China in the run-up to the crisis and to discuss in detail the implications of China’s sudden elevation to a position of global leadership. Author Giles Chance has lived in China for over 20 years, and is a business professor at the Guanghua Business School at Peking University. A keen observer of market developments and institutional change in China, Chance gives readers an insightful analysis of China’s new role with respect to changes in global governance, the future role of the dollar, and the country’s relations with the United States, Asia and the emerging world.

China, which now depends on worldwide engagement to realize its own development goals, is set to overtake Japan as the world's second largest economy by 2012. But unlike Japan, the country is equipped both by history and national inclination to play a leading role. Increasingly, what happens in China will have global repercussions. It is therefore critical that we understand the new role China will play in the post-crisis world – as a provider of growth to a world deep in recession, and, further into the future, as a central player in international affairs and macroeconomic management. China and the Credit Crisis will be an imperative read for specialists and non-specialists alike, illuminating the global impact of China’s ascent and the future evolution of China itself.

About 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.

About Wiley
Founded in 1807, John Wiley & Sons, Inc. ( has been a valued source of information and understanding for over 200 years, helping people around the world meet their needs and fulfill their aspirations. Since 1901, Wiley and its acquired companies have published the works of more than 400 Nobel laureates in all categories: Literature, Economics, Physiology/Medicine, Chemistry, Physics and Peace.

Our core businesses include scientific, technical, medical and scholarly journals, encyclopedias, books, and online products and services; professional/trade publishes books, subscription products, training materials, and online applications and websites; and educational materials for undergraduate and graduate students and lifelong learners. Wiley's global headquarters are located in Hoboken, New Jersey, with operations in the U.S., Europe, Asia, Canada and Australia. The Company is listed on the New York Stock Exchange under the symbols JWa and JWb.


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