After the 2008 global financial crisis, China’s banks fled the bogs far better than their counterparties in Europe, the US and Japan. China has achieved outstanding success in modernizing its banking sector and financial markets. The theory of law and finance generally acknowledges a close correlation between vibrant financial growth and a function of legal and regulatory system. But this theory may not apply to China. A group of scholars attributes China’s success to its top-down Party-state model of “rule by law” scheme. This book intends to thoroughly examine China’s financial regulatory system in the first decade after the global financial crisis, and provide insights to China’s market liberalization and economic development. This author indicates that China’s current regulatory system on financial market is still restrictive and mainly government-dominated. To further promote the development of financial markets and market economy, more market-led reforms to regulatory system and the expansion of the markets are needed.

British colonial policies have led to stratified societies all over the world and America is no exception. But America is unique in transiting to an equal society and constructing the legal framework to achieve a fair society, even though not completely successful. What distinguishes America from other British colonies is the tradition of rule of law. Perhaps this tradition is also the most priceless heritage that the Britain left for America. Currently, racial discrimination and racial equality protests spread across America. This book provides valuable insights for understanding the divided America.