Cooperating in a Time of Troubles and Adaptation to Changes: China’s Choices in the Light of Financial Crisis

　　Author: Luo Xiaojun, PhD Candidate, School of International Relations and Public Affairs, Fudan University.

　　Abstract: Due to differentiated economic growth rates and the rise of new markets, AsiaPacific is becoming an increasingly important economic region, and within the region, the rise of China’s economic status is particularly noteworthy. When considering this shift of power, China’s pursuit to join the United Statesled international system appears to be the correct strategic choice-be it from a historical, theoretical, or factual perspective. China has been one of the largest beneficiaries of the system, and is a contented party and a staunch defender. Given its longterm strategic plans and the impacts of the current financial crisis, China should not only push the US to make adaptive changes to the system, it should also provide help to the US so as to bring about global economic recovery and greater global governance. Cooperating with the US in a time of troubles suits China’s strategic interests, and China needs strategic planning to that effect. China also has to face the future, and be prepared for the policy shifts as the economy of the US recovers. The advantage that the US has achieved in the global wealth redistribution curve through its developed financial sector is a good example for all; China thus needs to concentrate on developing a modern financial sector, just as the US has done in the past.