Opportunities amidst Crisis: Strategic Opportunities of Opening-up during the Post-crisis Period

Long Guoqiang, Development Research Center of the State Council

The subprime crisis originating in the US ended up as a global financial crisis which brought about far-reaching impact to world economy and finance. In face of this crisis, various countries all took relevant steps to cope with the impact. China's government reacted early, swiftly, and timely by proposing a package of policy measures that gained good effects. Historical experience proves that a grave crisis often implicates enormous opportunities and is a turning point for the adjustment of international pattern. When the subprime crisis reared its ugly head, China had its eye on the US subprime crisis and its performance. It was not only concerned with how to resolve the impact of crisis but was also aware of the strategic opportunities, viewing from the perspective of China's peaceful development, offered by this crisis to China.

The book contains 13 chapters. Chapters 1, 2 and 3 use basic theories to elaborate on the opportunities during the crisis as well as how to seize them and seize them swiftly. Chapters 4 and 5 discuss the opportunities facing China during the financial crisis and post-crisis periods and relevant policy options. Chapter 6 presents theoretical analysis on the questionnaire results concerning enterprises' overseas direct investment and proposes related policy options. Chapter 7 lists case studies on overseas investment of machine tool, automobile and iron and steel industries. Chapters 8, 9 and 10 expound the opportunities and relevant measures relating to exploring new markets, ensuring the supply of strategic resources, and transformation and upgrading of the processing trade during the post-crisis period. Chapters 11, 12, and 13 illustrate with examples France's new plan on industrial revitalization, Japan's new growth strategy, and US policy on manufacturing along with their influence on China.

This book is written by the Research Team on "Strategic Opportunities of China's Opening-up during the Post-crisis Period" led by Long Guoqiang, Vice President of the Development Research Center of the State Council. As the financial crisis is yet to end and in progress, research on strategic opportunities is necessarily dynamic. Presented in this book are preliminary research findings and it is hoped that dear readers would not hesitate to make comments and stint your criticism. At the same time, it is hoped that the whole society would give due attention to this issue and work together toward national prosperity.