A History of Modern Shanghai Banking: The Rise and Decline of China's Financial Capitalism

A History of Modern Shanghai Banking: The Rise and Decline of China's Financial Capitalism
Author: Ji Zhaojin
Publisher: Routledge
Total Pages: 366
Release: 2016-07-08
Genre: Business & Economics
ISBN: 131747807X

As the center of capitalism in China, Shanghai banking provides a unique perspective for assessing the impact of the changes from financial capitalism to socialist planning banking in the early 1950s, and for evaluating the reform of China's banking system since the 1980s. This book offers a comprehensive history of Shanghai banking and capital markets from 1842 to 1952, and illustrates the non-financial elements that contributed to the revolutionary social and financial changes since the 1950s, as well as financial experiences that are significant to China's economic development today. The book describes the rise and fall of China's traditional native banks, the establishment of foreign banks, and the creation of modern state banks, while focusing on the colorful world of banking, finance, and international relations in modern Shanghai. It assesses the Chinese government's intervention in banking and finance during the Qing dynasty and the Republican era, as well as the concept of state capitalism after the establishment of the People's Republic. The author examines various modern-style Chinese banks through fascinating stories of Shanghai bankers. In addition, she provides detailed coverage of market-oriented international trade, banking associations, the conflicts between state and society, the government involvement in business, the management of foreign exchange, joint venture banks, wartime banking and finance, hyperinflation, corruption, and banking nationalization.

Chinese Hinterland Capitalism and Shanxi Piaohao

Chinese Hinterland Capitalism and Shanxi Piaohao
Author: Luman Wang
Publisher: Routledge
Total Pages: 198
Release: 2020-09-21
Genre: History
ISBN: 1000194280

This book examines Shanxi piaohao—private financiers from the Chinese hinterland—in the economic and business history of late imperial China, forming the original theory of Chinese hinterland capitalism. Deepening the existing understanding of capitalist dynamics at work in the families and financial institutions of late imperial China, the book foregrounds the expansionist role played by Shanxi piaohao in transforming China’s market and trade from an agrarian empire to a modern nation state. In a departure for economic history, it also focuses on the histories of the people and their lifeworlds behind financial institutions, which have previously been erased by universal capitalist narratives. Persistent binary oppositions between coastal areas and hinterland; state and market; and institutions and families are each transcended in recounting the local histories of global capital in the marginalized countryside and borderlands of China. Based on a wealth of archival material and correspondence with Shanxi piaohao offices and branches, Chinese Hinterland Capitalism and Shanxi Piaohao will appeal to students and scholars of Chinese and economic history, anthropology, and postcolonial studies more generally.

A Brief History of Doom

A Brief History of Doom
Author: Richard Vague
Publisher: University of Pennsylvania Press
Total Pages: 240
Release: 2019-03-25
Genre: Business & Economics
ISBN: 0812296613

Financial crises happen time and again in post-industrial economies—and they are extraordinarily damaging. Building on insights gleaned from many years of work in the banking industry and drawing on a vast trove of data, Richard Vague argues that such crises follow a pattern that makes them both predictable and avoidable. A Brief History of Doom examines a series of major crises over the past 200 years in the United States, Great Britain, Germany, France, Japan, and China—including the Great Depression and the economic meltdown of 2008. Vague demonstrates that the over-accumulation of private debt does a better job than any other variable of explaining and predicting financial crises. In a series of clear and gripping chapters, he shows that in each case the rapid growth of loans produced widespread overcapacity, which then led to the spread of bad loans and bank failures. This cycle, according to Vague, is the essence of financial crises and the script they invariably follow. The story of financial crisis is fundamentally the story of private debt and runaway lending. Convinced that we have it within our power to break the cycle, Vague provides the tools to enable politicians, bankers, and private citizens to recognize and respond to the danger signs before it begins again.

Self-reflections of Fears and Dreams

Self-reflections of Fears and Dreams
Author: Ray T. Hartman
Publisher: Rowman & Littlefield
Total Pages: 291
Release: 2023
Genre: Legitimacy of governments
ISBN: 1666916854

Ray Hartman provides an intellectual history of Chinese legitimacy as it was understood by the young Chinese Communist Party (CCP). Providing insights into CCP leaders' self-perceptions regarding their own legitimacy, he shows how that conception dictated the Party's policies regarding the people's welfare, the economy, and military strategy.

Foreign Banks and Global Finance in Modern China

Foreign Banks and Global Finance in Modern China
Author: Ghassan Moazzin
Publisher: Cambridge University Press
Total Pages: 355
Release: 2022-07-07
Genre: Business & Economics
ISBN: 100903698X

In this wide-ranging study, Ghassan Moazzin sheds critical new light on the history of foreign banks in late nineteenth and early twentieth century China, a time that saw a substantial influx of foreign financial institutions into China and a rapid increase of both China's foreign trade and its interactions with international capital markets. Drawing on a broad range of German, English, Japanese and Chinese primary sources, including business records, government documents and personal papers, Moazzin reconstructs how during this period foreign banks facilitated China's financial integration into the first global economy and provided the financial infrastructure required for modern economic globalization in China. Foreign Banks and Global Finance in Modern China shows the key role international finance and foreign banks and capital markets played at important turning points in modern Chinese history.

The Chinese Banking Industry

The Chinese Banking Industry
Author: Yuanyuan Peng
Publisher: Routledge
Total Pages: 213
Release: 2007-08-18
Genre: Business & Economics
ISBN: 1134098391

Bringing a vast amount of material to a Western audience for the first time, this book provides a detailed systematic micro-level analysis of the historical development of the Chinese banking industry, analyzing the key issues in the development of the Bank of China in the period 1905 to 1949.

China's Banking Law and the National Treatment of Foreign-Funded Banks

China's Banking Law and the National Treatment of Foreign-Funded Banks
Author: Wei Wang
Publisher: Routledge
Total Pages: 488
Release: 2016-05-23
Genre: Law
ISBN: 1317167317

This book assesses new developments in and reform of China's banking law system following its accession of the WTO. It focuses on the relationship between GATS/WTO national treatment obligations and China's banking law. Tracing the history of national treatment in China, the book compares the treatment of foreign-funded banks with the treatment of Chinese-funded banks and examines the structure and shortcomings of the existing banking law framework in China. Offering suggestions as to how the framework could be restructured and analysing the economic and political bases of an integrated banking law framework, the book argues that reorganization would bring about greater consistency with GATS/WTO national treatment requirements. The book also explores the ambiguous definition of prudential carve-out, the subtle relationship between GATS national treatment and market access based on WTO cases, national treatment clauses in China’s bilateral investment treaties, and special treatment on banking in China’s free trade agreements. This volume is a valuable resource for academics and students as well as professionals and policy-makers working in the field of banking, WTO, Chinese law and foreign trade.

Historical Dictionary of the Financial System in China

Historical Dictionary of the Financial System in China
Author: Lawrence R. Sullivan
Publisher: Rowman & Littlefield
Total Pages: 455
Release: 2024-10-21
Genre: History
ISBN:

Major themes in the history of finance in China reflect the persistent tension between a powerful state guiding the economy versus vibrant market forces operating according to basic commercial principles. Included is the continuity and discontinuity of financial developments in imperial and modern history; creation of a modern banking system beginning in the late nineteenth century; and emergence of complex and sophisticated financial institutions and products since the introduction of economic reforms in the People’s Republic of China in 1978-1979. The Historical Dictionary of the Financial System in China contains a chronology, an introduction, and an extensive bibliography. The dictionary section has more than 300 cross-referenced entries on important financiers, entrepreneurs, and government officials involved in finance, large state-owned banks (SOBs), state-owned enterprises (SOEs), hedge funds, exchange-traded funds, and asset-management companies. This book is an excellent resource for students, researchers, and anyone wanting to know more about the Chinese financial system.

The Politics and Philosophy of Chinese Power

The Politics and Philosophy of Chinese Power
Author: R. James Ferguson
Publisher: Lexington Books
Total Pages: 307
Release: 2016-12-12
Genre: Political Science
ISBN: 0739192957

This book provides a timely analysis of the politics, philosophy, and history of Chinese power, focusing on social, strategic, and diplomatic trends that have shaped China for over three thousand years. Chinese elites have used the past to inform the present, but have also mobilized new ideas to address the country’s rapid transition to global power. China’s intellectual world can draw on a surprisingly pluralist legacy. When Chinese thinkers assess “power,” they bring to bear their classical legacy, the military classics, Chinese socialism, and Western political thought. There are also a number of intriguing formulations that give shape to the exercise of Chinese power. Among these are comprehensive national strength, stability preservation, soft power, asymmetric conflict, and counter-intervention strategies. This book looks at key periods in Chinese history when attitudes to power evolved and at their current expressions. These include China’s expanded use of think tanks to chart the future, efforts at creating an eco-civilization to balance growth, and an extended set of security and information capabilities. From observing the centrality of power in today’s international affairs, the book moves to the foundational concepts of Chinese governance: its belief in a strategic configuration of power—as understood in military contexts—as well as its growing diplomatic and maritime engagement abroad. This analysis culminates in new ideas of functional multipolarity. Power is also deployed internally: China’s use of nationalism as a major tool for state-building and cohesion, the ongoing role of socialism, and the People’s Liberation Army are all examined in this light. China’s current strategic culture has shaped President Xi Jinping’s search for a new model of power for China in the twenty-first century, an endeavor that will have serious implications for the future global order. This book provides an alternative perspective on China’s trajectory towards a revised international system.