By L. Aiguo
It is a examine of the long-run evolution of the connection among China and the area economic system. concentrating on China's responses to the growth of the capitalist global economic system, the booklet offers an unique interpretation of the country's socioeconomic procedures some time past century and a part. the writer argues that the overall thrust of China's quest for improvement or 'modernisation' has been to meet up with the Western prosperous countries, and explains the altering paths and results.
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Additional info for China and the Global Economy since 1840
2). 2 Iron and steel Machinery Chemicals Transportation equipment Other Xu and Wu, 1990, p. 83; Zheng, 1984, p. 41. Foreign Trade 37 Great Britain remained the most important trading partner up until World War I. In 1899, the trade with Britain still had a commanding share of more than 60 per cent of the total China trade. In 1913, nearly 30 per cent of China’s imports came from Hong Kong, of which the bulk was of British or European origin. 5 per cent of China’s imports came directly from Great Britain.
Over time there was indeed a shift from the exchange of ‘rare’ goods, such as the tea exports and the opium imports, to that of bulk goods, but the volume of the exchange was too slight to Foreign Trade 41 have an effect on the productive output and the daily lives of the majority of the people living in the countryside. During the ‘century of integration’, the chief reasons behind the difficulties foreigners faced in expanding trade in China to the level they expected were found by many to be China’s poverty, self-sufficiency and conservatism, factors which, ironically, characterized in similar fashion the period of autarchy before 1840.
28–9). The number of foreign-funded enterprises stood at 166 in 1913 and had grown to over 820 by 1936 (Zhu Cishou, 1987, pp. 52–6). Many of the Western-funded enterprises were large and possessed monopolistic power over domestic industries. In some cases, the contrast was stunning. An American-owned electricity company in Shanghai produced as much electricity as all the domestic electricity companies combined; the output of one of the British tobacco companies surpassed that of all the domestic tobacco companies; and the soap production of one British company was over half that of the domestic soap companies (Zhu Cishou, 1987, pp.