What to expect from China in the current economic crisis? Will the crisis change China’s role in the international economy? In this Policy Brief, Guy de Jonquières analyses the main trends in China’s economic policy-making and positioning in the international policy arena. He argues that China still has an uncertain commitment to economic rebalancing, which might lead to frictions with its partners. Despite its new political assertiveness, it remains ambivalent on exerting international leadership. Yet as China’s economic and financial importance continues to expand and world leaders seek global stability, deeper engagement between Beijing and other power centres will remain indispensable.