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- DescriptionThe Great Depression was a global phemen: every ecomy linked to international financial and commodity markets suffered. The aim of this book is t merely to show that China could t escape the consequences of drastic declines in financial flows and trade but also to offer a new perspective for understanding modern Chinese history. The Great Depression was a watershed in modern China. China was the only country on the silver standard in an international monetary system dominated by the gold standard. Fluctuations in international silver prices undermined China's monetary system and destabilized its ecomy. In response to severe deflation, the state shifted its position toward the market from laissez faire to committed intervention. Establishing a new monetary system, with a different foreign-exchange standard, required deliberate government management; ultimately the process of ecomic recovery and monetary change politicized the entire Chinese ecomy. By analyzing the impact of the slump and the process of recovery, this book examines the transformation of state-market relations in light of the linkages between the Chinese and the world ecomy.
- Author BiographyTomoko Shiroyama is Associate Professor of Economic History in the Graduate School of Economics, Hitotsubashi University.
- Author(s)Tomoko Shiroyama
- PublisherHarvard University, Asia Center
- Date of Publication02/10/2009
- SubjectEconomics: Professional & General
- Series TitleHarvard East Asian Monographs
- Series Part/Volume Numberv. 294
- Country of PublicationUnited States
- ImprintHarvard University, Asia Center
- Content Note19 line illustrations
- Weight544 g
- Width155 mm
- Height235 mm
- Spine23 mm
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