Download or read book The Rise and Fall of a Public Debt Market in 16th Century China written by Wing-kin Puk and published by BRILL. This book was released on 2015-11-16 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the Ming dynasty (1368-1644), the government invited merchants to deliver grain in return for salt certificates with which merchants drew salt as reward. The salt certificate therefore represented a national debt, denominated in salt, the government thereby owed merchants. A speculative market of salt certificates was created in Yangzhou and brought into being powerful financiers in the early 17th century. The government, financially hard pressed, abolished the speculative market of salt certificates by franchising these financiers in return for their hereditary obligation to pay salt certificate surcharge. China was therefore deprived of a possibility to develop a public debt market. This story is a testimony to Fernand Braudel’s argument of the "nondevelopment" of Capitalism in China.

Download or read book What s Left of Marxism written by Benjamin Zachariah and published by Walter de Gruyter GmbH & Co KG. This book was released on 2020-09-21 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: This series seeks to focus on the politics inherent in historical thinking, professional and non-professional, promoted by states, political organisations, 'nationalities' or interest groups, and to explore the links between political (re-)education, historiography and mobilisation or identity formation.

Download or read book Demystifying China s Stock Market written by Eric Girardin and published by Springer Nature. This book was released on 2019-09-13 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mainstream research has rationalized China’s stock market on the basis of paradigms such as the institutional approach, the efficient market hypothesis, and corporate valuation principles. The deviations from such paradigms have been analyzed as puzzles of China’s stock market. Girardin and Liu explore to what extent, in the perspective of Chinese cultural and historical characteristics, far from being puzzles, these 'deviations’ are rather the symptoms of a consistent strategy for the design, development and regulation of a government-dominated financial system. This book will help investors, observers and researchers understand the hidden logic of the design and functioning of China’s modern stock market, taking a political economy view.

Download or read book Elusive Capital written by Gipouloux, François and published by Edward Elgar Publishing. This book was released on 2022-06-09 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offering a fresh analysis of late imperial China, this cutting-edge book revisits the roles played by merchant networks, economic institutions, and business practices in the divergence between Europe and China during the trade revolution.

Download or read book Merchant Cultures written by and published by BRILL. This book was released on 2022-01-31 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: The way merchants trade, think about business and represent commerce in art forms define merchant culture. The world between 1500 and 1800 encompassed different merchant cultures that stood alone and in contact with others. Culture, power relations and institutions framed similarities and differences and outlined the global outcome of these exchanges.

Download or read book An East Asian Challenge to Western Neoliberalism written by Niv Horesh and published by Routledge. This book was released on 2017-08-03 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analysts generally agree that, in the long term, the biggest challenge to American hegemony is not military, but rather China’s economic rise. This perception is spread in no small measure because Xi Jinping has – in the face of patent military inferiority – conducted himself much more boldly on the world stage than Hu Jintao. Meanwhile, China has also begun conjuring up an alternative vision for global leadership, now widely termed as the ‘China model’. This book therefore offers a critical and comprehensive explanation of the China model and its origins. Using a range of case studies, covering varying historical and geographical approaches, it debates whether the Chinese experience in the last three decades of economic reform should be interpreted as an answer to the reigning hegemony of neoliberalism, or rather a further reinforcement of it. To answer these questions, it provides an investigation into what China may have learned from its East Asian neighbours’ earlier economic successes. It also examines how it is responding to and might even reconfigure the world political-economic system as it develops fresh and potentially more powerful regulatory capacities. Providing a multi-dimensional analysis of the ‘China model’, the book will be of interest to students and scholars of Chinese Economics, Economic Geography and Chinese Studies.

Download or read book The Ming World written by Kenneth M Swope and published by Routledge. This book was released on 2019-08-08 with total page 845 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Ming World draws together scholars from all over the world to bring China’s Ming Dynasty (1368-1662) to life, exploring recent scholarly trends and academic debates that highlight the dynamism of the Ming and its key place in the early modern world. The book is designed to replicate the structure of popular Ming-era unofficial histories that gathered information and gossip from a wide variety of fields and disciplines. Engaging with a broad array of primary and secondary sources, the authors build upon earlier scholarship while extending the field to embrace new theories, methodologies, and interpretive frameworks. It is divided into five thematically linked sections: Institutions, Ideas, Identities, Individuals, and Interactions. Unique in its breadth and scope, The Ming World is essential reading for scholars and postgraduates of early modern China, the history of East Asia and anyone interested in gaining a broader picture of the colorful Ming world and its inhabitants.

Download or read book The Art of Being Governed written by Michael Szonyi and published by Princeton University Press. This book was released on 2019-08-27 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of Choice Reviews' Outstanding Academic Titles of 2018--an innovative look at how families in Ming dynasty China negotiated military and political obligations to the state.tate.

Download or read book The Making of a New Rural Order in South China Volume 2 Merchants Markets and Lineages 1500 1700 written by Joseph P. McDermott and published by Cambridge University Press. This book was released on 2020-07-02 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is written for anyone who has wondered about the growth of Chinese businesses and their relation to Chinese family and government institutions. Making full use of its partner volume's findings on village institutions in the southern prefecture of Huizhou, this volume explains how late imperial China's key regional group of merchants emerged from this prefecture's village lineages. It identifies the strategies they deployed to overcome the serious obstacles to their domination of major financial transactions and commodity markets throughout much of China from 1500 to 1700. At the same time it describes how the commercial success enjoyed by these 'house firms' undermined their lineages' social stability, making them vulnerable to competition from popular religious cults back home. In recounting how rural and urban institutions interacted through state and economic development, McDermott provides a powerful new framework for understanding late imperial China's distinctive trajectory to social and economic transformation.

Download or read book The Making of a New Rural Order in South China written by Joseph P. McDermott and published by Cambridge University Press. This book was released on 2020-07-02 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: In examining the key merchant group in late imperial China this book provides a framework for understanding China's path to modernity.

Download or read book Copper Coins and the Emperor s Wallet The Role of Currency in Ming China written by Sui-Wai Cheung and published by BRILL. This book was released on 2023-10-20 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sui-Wai Cheung’s study of the institutional history of copper coins in the Ming dynasty reveals how emperors and statesmen perceived and used the copper coins at their disposal. In this process, he uncovers the reality of the Sons of Heaven, showing that although Ming emperors seemed to have unlimited power, they could not afford the upkeep on their palace. In this revealing history of Ming China, Cheung argues that especially after the breakdown of the household registration system, the aim of the Ming coinage system was to create a new source of income in order to maintain the emperor's domain in Beijing.

Download or read book Public Debt Through the Ages written by Mr.Barry J. Eichengreen and published by International Monetary Fund. This book was released on 2019-01-15 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider public debt from a long-term historical perspective, showing how the purposes for which governments borrow have evolved over time. Periods when debt-to-GDP ratios rose explosively as a result of wars, depressions and financial crises also have a long history. Many of these episodes resulted in debt-management problems resolved through debasements and restructurings. Less widely appreciated are successful debt consolidation episodes, instances in which governments inheriting heavy debts ran primary surpluses for long periods in order to reduce those burdens to sustainable levels. We analyze the economic and political circumstances that made these successful debt consolidation episodes possible.

Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

Download or read book China s Economic Rise written by Congressional Research Service and published by Createspace Independent Publishing Platform. This book was released on 2017-09-17 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior to the initiation of economic reforms and trade liberalization 36 years ago, China maintained policies that kept the economy very poor, stagnant, centrally-controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free market reforms in 1979, China has been among the world's fastest-growing economies, with real annual gross domestic product (GDP) growth averaging nearly 10% through 2016. In recent years, China has emerged as a major global economic power. It is now the world's largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves.The global economic crisis that began in 2008 greatly affected China's economy. China's exports, imports, and foreign direct investment (FDI) inflows declined, GDP growth slowed, and millions of Chinese workers reportedly lost their jobs. The Chinese government responded by implementing a $586 billion economic stimulus package and loosening monetary policies to increase bank lending. Such policies enabled China to effectively weather the effects of the sharp global fall in demand for Chinese products, but may have contributed to overcapacity in several industries and increased debt by Chinese firms and local government. China's economy has slowed in recent years. Real GDP growth has slowed in each of the past six years, dropping from 10.6% in 2010 to 6.7% in 2016, and is projected to slow to 5.7% by 2022.The Chinese government has attempted to steer the economy to a "new normal" of slower, but more stable and sustainable, economic growth. Yet, concerns have deepened in recent years over the health of the Chinese economy. On August 11, 2015, the Chinese government announced that the daily reference rate of the renminbi (RMB) would become more "market-oriented." Over the next three days, the RMB depreciated against the dollar and led to charges that China's goal was to boost exports to help stimulate the economy (which some suspect is in worse shape than indicated by official Chinese economic statistics). Concerns over the state of the Chinese economy appear to have often contributed to volatility in global stock indexes in recent years.The ability of China to maintain a rapidly growing economy in the long run will likely depend largely on the ability of the Chinese government to implement comprehensive economic reforms that more quickly hasten China's transition to a free market economy; rebalance the Chinese economy by making consumer demand, rather than exporting and fixed investment, the main engine of economic growth; boost productivity and innovation; address growing income disparities; and enhance environmental protection. The Chinese government has acknowledged that its current economic growth model needs to be altered and has announced several initiatives to address various economic challenges. In November 2013, the Communist Party of China held the Third Plenum of its 18th Party Congress, which outlined a number of broad policy reforms to boost competition and economic efficiency. For example, the communique stated that the market would now play a "decisive" role in allocating resources in the economy. At the same time, however, the communique emphasized the continued important role of the state sector in China's economy. In addition, many foreign firms have complained that the business climate in China has worsened in recent years. Thus, it remains unclear how committed the Chinese government is to implementing new comprehensive economic reforms.China's economic rise has significant implications for the United States and hence is of major interest to Congress. This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise.

Download or read book Making Of An Economic Superpower The Unlocking China s Secret Of Rapid Industrialization written by Yi Wen and published by World Scientific. This book was released on 2016-05-13 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rise of China is no doubt one of the most important events in world economic history since the Industrial Revolution. Mainstream economics, especially the institutional theory of economic development based on a dichotomy of extractive vs. inclusive political institutions, is highly inadequate in explaining China's rise. This book argues that only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West (as incorrectly portrayed by the institutional theory) can fully explain China's growth miracle and why the determined rise of China is unstoppable despite its current 'backward' financial system and political institutions. Conversely, China's spectacular and rapid transformation from an impoverished agrarian society to a formidable industrial superpower sheds considerable light on the fundamental shortcomings of the institutional theory and mainstream 'blackboard' economic models, and provides more-accurate reevaluations of historical episodes such as Africa's enduring poverty trap despite radical political and economic reforms, Latin America's lost decades and frequent debt crises, 19th century Europe's great escape from the Malthusian trap, and the Industrial Revolution itself.

Download or read book This Time Is Different written by Carmen M. Reinhart and published by Princeton University Press. This book was released on 2011-08-07 with total page 513 pages. Available in PDF, EPUB and Kindle. Book excerpt: An empirical investigation of financial crises during the last 800 years.

Download or read book The Oxford Handbook of Early Modern European History 1350 1750 written by Hamish M. Scott and published by Oxford Handbooks. This book was released on 2015 with total page 769 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook re-examines the concept of early modern history in a European and global context. The term 'early modern' has been familiar, especially in Anglophone scholarship, for four decades and is securely established in teaching, research, and scholarly publishing. More recently, however, the unity implied in the notion has fragmented, while the usefulness and even the validity of the term, and the historical periodisation which it incorporates, have been questioned. The Oxford Handbook of Early Modern European History, 1350-1750 provides an account of the development of the subject during the past half-century, but primarily offers an integrated and comprehensive survey of present knowledge, together with some suggestions as to how the field is developing. It aims both to interrogate the notion of "early modernity" itself and to survey early modern Europe as an established field of study. The overriding aim will be to establish that 'early modern' is not simply a chronological label but possesses a substantive integrity. Volume II is devoted to "Cultures and Power", opening with chapters on philosophy, science, art and architecture, music, and the Enlightenment. Subsequent sections examine 'Europe beyond Europe', with the transformation of contact with other continents during the first global age, and military and political developments, notably the expansion of state power.