Rebalancing China addresses three key sets of issues in Chinas political economy. Part One provides an analysis of the profound effect of the global financial crisis upon Chinas economy as well as the positive impact of the massive rescue package that was implemented in response to the crisis. Part Two focuses on the challenge of globalization for Chinas industrial policy. After more than two decades of industrial policy China still has a negligible number of large firms that are competitive in global markets. Chinas experience presents a fundamental challenge to traditional concepts of industrial policy and development. Part Three examines Chinas international relations in particular its relationship with the US and the interactions between the two countries in the East and South China Seas. show more