In the European media, China is present in daily reporting. Yet, a decade ago, it merely merited an occasional glance for its rapid economic change and expansion. Today, it is a central player in the international economic order. Indeed, according to some estimates, it is the biggest player in the international economic order. Economic relations between China and the European Union have grown in importance, yet a comprehensive new trade agreement is not in sight. This is a symptom of the unease of the international economic governance system where China's rise is resisted by organizations, structures and diplomatic and legal cultures emanating from a world order that has been dominated by the United States since the Second World War. Yet, this era is over. Not as Fukuyama has proclaimed with a confirmation of the American model as the sole successful model but through the emergence of an expected plurality of actors and variety of models that defies the comfortable realities of international organizations dominated by the interests of a small group of states led by the United States.

This book contributes to the debate and understanding on China by offering insights and perspectives from both Chinese and European scholars on themes related to business and economic aff airs. The double perspective avoids the familiarity paradox of a Chinese system that has drawn on European experiences in organizing and regulating its economic system since the 1970s when China relied on legal transplants from Europe to overhaul its legal system. Chinese civil and commercial law is largely inspired by, based on or completely copied from European legal systems. As such, these rules in themselves are neither Chinese nor socialist. However, in the interpretation, usage and development, these rules – ostensibly familiar – have become part and parcel of a governance system and an economic system that is Chinese and is socialist with Chinese characteristics. The blackletter laws are hence different from the law in reality and as it is applied. The same rules in Europe and in China create different legal and economic realities.