This book analyses the post-subprime crisis world from the global, Asian and Chinese perspectives, and from research and financial market angles. It explores the hidden issues, including the potential economic and political tensions that the post-bubble adjustment will bring; dispels some of the myths about the crisis's effects on Asia and China; and exposes the ugly truth of bailout policies and their distortion and hindering of the world's economic rebalancing effort in the post- subprime era. By questioning conventional wisdom, Chi Lo helps raise awearness of the post-crisis risks, the sacrifices and tough decisions that countries will have to make, and the changes in the economic behaviour and regulatory and institutional frameworks that will be necessary. Lo's insightful discussion serves as a catalyst for stimulating critical thinking about this global crisis alongside the rise of China and Asia as global growth engines. With his exmination of the impacts on both the developed and the developing world, he presents one of the few integrated, complete pictures of the post-subprime landscape.