The article explores how China, along with the US, Eurozone, and Japan, affects global economic performance. By analyzing different types of shocks, the researchers found that domestic and global factors can reinforce each other. Treating China equally with other major economies is crucial for understanding how they interact. Domestic monetary shocks don't directly impact the global economy, but they do lead to looser monetary policies worldwide. Global monetary shocks play a significant role in commodity demand and real economic conditions. Overall, greater policy cooperation among these economies could bring positive outcomes.