ABSTRACT
This chapter summarizes the history of China’s engagement with the international financial system since the CPC came to power in mainland China in 1949. The first period of engagement was from 1949 to 1980 when China was for the most part isolated from the rest of the world, although, towards the end of the period, it was beginning to engage. The second period covers 1980 to 2000, when China was starting to accommodate and integrate itself into the world. Although there was some conflict at times, China was generally welcomed into the IFIs. Finally, the chapter looks at the period since 2000, when Beijing felt able to express its dissatisfaction with the status quo. Having previously been vulnerable, China was now confident and competent enough to make some noise on the world stage. Next, this chapter provides an outline of the book’s structure and a brief introduction to each chapter.
