| This paper is intended to analyze the background, process and causes of the Financial Crisis in East Asia and based on the analysis to study the various measures China has taken to cope with the crisis and their effectiveness. On top of that, the author will review the new characteristics of political development in the age of globalization and the fundamental methods China follows in governance innovation. The 1997 Financial Crisis in East Asia has exerted great and far-reaching impact on reform and opening and modernization process in China. In order to cope with the crisis, China racked its brains and tried its best to come up with many judicious policies and measures. In this paper, the author studies the process China coped with the Financial Crisis in East Asia so as to get an insight on the practice and pattern of governance in China in this age of globalization. Taking the perspective of political science, the author draws on the most recent research results in governance theory and applies an analytical method that links domestic politics and international politics. The governance theory represents a breakthrough of the traditional political philosophy of government ruling. On one hand, it transcends the national sovereignty and introduces the multi-level governance concept, which means that this theory includes cross-country international organizations and mechanisms into its framework to form a global governance perspective. On the other hand, it transcends traditional political concepts in that it includes social, economic and cultural issues into its horizon in an attempt to dig out their political implications; and in this sense, it is a multi-dimensional governance theory. As global issues are being addressed, such as economic recession, financial crisis, environmental pollution, drug crime, terrorism, smuggling and contagious diseases, traditional political concepts have undergone drastic historical change. As a new concept, the multi-level and multi-dimensional governance theory reflects the new political reality in this age of globalization and has strong relevance to the analysis of China participating in the globalization process, in particular the process China coped with the Financial Crisis in East Asia. If we put the process against the big historical backdrop of globalization and of China's multi-level and multi-dimensional participation in globalization, we can see that the process China coped with the Financial Crisis in East Asia is actually a process of multi-level and multi-dimensional governance. The paper unfolds the author's research based upon this judgment. First, we analyze the process China coped with the crisis from economic, political and cultural dimensions. The Financial Crisis in East Asia is not a mere economic phenomenon; rather, it touches upon many political issues and deep-rooted cultural issues. In applying the governance theory with the three dimensions, the author intends to give a holistic picture. Secondly, with each dimension, we dwell upon issues at four levels, namely the international level, regional level, country level and local level. The Financial Crisis in East Asia is not a mere regional phenomenon. It has global impact, which reaches deep into the inside of various countries. In this paper, the author aims to delineate the process and policies of China coping with the Financial Crisis in East Asia at various levels by applying the theory that links domestic and international politics and in particular the governance theory in the age of globalization.Based upon the afore-mentioned framework, the paper is composed of six chapters:Chapter One: Introduction, in which the author put forward the issue, review research literature and design analytical framework.Chapter Two: The Financial Crisis in East Asia and China, in which the author analyzes the background of the outbreak of the crisis, the process and causes of the crisis and its impact on China. Chapter Three: Economic Response and Good Governance , in which the...
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