The impact of the 2008-2009 global financial crisis on Western developed countries, especially the Anglo-American economies, is far-reaching and is reflected on economic, political, and social dimensions. A large body of scholars from various disciplines has attempted to explain the outbreak of the financial crisis. This study analyzed the relationship between economic globalization and the global financial crisis, and explored the impact of the crisis on China from a financial geography perspective. First, this study examined the formation of a new international labor division in the context of economic globalization, identified the transmission dynamics of the financial crisis, and mapped the changing geographies of world economies shaped by the financial crisis. With regard to China, the global financial crisis was external. The economic recession and consumption contraction of Western developed countries have directly affected China's exports, but the financial crisis has not fundamentally affected China's financial system. Second, the article explains why the global financial crisis did not impact China's financial system. The spatial heterogeneity of institutions, the varieties of market economic systems, the government's positive role and control, and China's banking-dominant financial system were all important contributors. Third, the interests of Chinese and international financial geographers on China have gradually increased in the last decade and this article summarizes the latest research progress and identifies the shortcomings of the existing research. Finally, based on the research progress of Western financial geography, this article puts forward some suggestions for the construction of China's financial geography in the future.

The new international division of labor brought about by globalization has made the global production network (GPN) an important framework for the study of global economic and regional development. At the same time, the status of finance in the operation of modern social economic systems is increasing. Economic financialization has a significant impact on the spatial distribution and network of economic activities at different scales in the world. Therefore, finance has become the necessary basis of production activities in GPN. More importantly, the logic brought by financialization has profoundly affected the operation and change of GPN. Although GPN research has been paying attention to the role of finance and has begun to study the GPN of financial industry, inadequacies still exist. As increasingly more firms are integrated into the global capital market by obtaining international equity investment or listing in overseas capital market, it is difficult for the GPN framework to thoroughly analyze this phenomenon. Global financial Network (GFN) provides a new framework for describing and analyzing this process. In this analytical framework, local economies connect with world cities (international financial centers) and offshore financial jurisdictions through advanced business service (ABS) firms, thus forming GFN. This article first introduced the basic concept of GFN, including its main entities and network structure. Then we discussed the ways and further influences for cities or regions to integrate into GFN, focusing on the global-local economic linkages built by this process. Finally, we put forward the direction of further theoretical and empirical research of GFN in the future.

With the deepening of the global division of labor and widespread attention to environmental issues, the research framework of global value chain has become an important tool for Western academia to study cross-regional, global-local linkages and environmental power game in environmental issues. Through a review of the existing literature, this article introduces the greening of industries into the analytical framework of global value chain. The concept of greening global value chain is summarized as follows: the green processing on multinational production networks including raw material purchasing, production, sale, transportation, and recycling with a focus on the redistribution of environmental value. Then the research framework of greening global value chain was preliminarily constructed, including the driving mechanism of greening global value chain, the greening of management in different governance modes of global value chain, and the greening industrial upgrading of local economic entities. The following research areas are proposed: the mechanism of interactions among actors who drive the greening global value chain, regulation of governance network on greening global value chain, the environmental impact assessment of greening industrial upgrading and greening global value chain, among others. Different themes and characteristics of researches on greening global value chain are also identifies for the regional, national, and global scales. Finally, topics of future research on greening global value chain are suggested: the definition of the power relationship among actors, the model of greening governance, and the greening production network at the global scale. The purpose of this article is to provide a theoretical basis for the analysis of environmental problems in the global value chain.

With globalization, increasing specialization and spatial division of labor created longer distance between production and consumption. Consumerism became the driving force for the growth of production, and hindered the sustainability transition of local production system. Recent technological advances in 3D printing, intelligent micro grid, renewable energy, and so on have been expected to improve the possibility for a more distributed organization of production, which involves dispersed individual decision makers who are both producers and consumers in the production system. A systematic literature review was conducted on recent research on the sustainability of the distributed production system. With a focus on the relation between consumption and production, selected articles addressing the role of prosumers in the distributed production system from three leading academic journals on this topic were studied. Four interrelated dimensions were identified, including geographical implications, technology transition, market/collaboration mechanism, and sustainability. In conclusion, the sustainability performance of the distributed production system will be highly dependent on the interactions between the other three dimensions. Especially, a more close relation between consumption and production at the local level in the distributed production system can hardly be isolated from the global system. We call for more empirical studies on the restructuring of global-local relations within such sustainability transition.