Individuals Flashcards
How did Li hongzhang become known to western diplomats
As a moderniser and skilled administrator who organised the resistance to the taiping rebellion and he was generally popular with Europeans seeing to open up china to trade
What was Li Hongzhang appointed in 1871
He was appointed viceroy of zhili which gave Li the power to press through modernisations and when being made north commissioner he directly came into contact with foreigners
Li’s industrial development
Built a coal mine, railways, a cotton mill and a steamship company aswell as introducing the telegraph
Li’s opinion on foreign powers
He knew that weak china had to build up its power gradually before it could self sufficient
Who has Li been likened to
Deng xiaoping in his willingness to adopt whatever measures were necessary to improve chinas economic situation such as the self strengthening movement
Resistance to Li
It was feared that modern technology would sweep away Chinese culture and traditional Confucian ways of thinking and following the 1911 revolution his reputation was called into question - though he died in 1901
Mao viewed Li as a bourgeoise capitalist who was happy to sell china to Europe
Who was the other most important figure in the self strengthening movement
Sheng Xuanhai
What were sheng’s expertise
Banking and industry = he could see the ability to borrow and lend money in order to invest in industry was key to Europeans success
What did sheng convince Li of
That railways, mines and ports could not be built unless there is large amounts of credit from banks - although until 1897 the banks that were accessible were western owned ones in shanghai and Hong Kong
What did sheng establish in 1897
He established the imperial bank of china in 1897 which was based on European financial ideas which could be grafted on to china - he argued that the establishment of a Chinese owned bank would prevent the Qing government from having to borrow from Europe
Who was one of the most significant figures in the nationalist era
T.V Soong who held a variety of posts from governor of the bank of china to prime minister of CKS’s government and he arguably did more to integrate china into the global economy than any other figure until deng
What did T.V Soong introduce in the early 1920’s
he introduced a simplified tax system and doubled government revenues in two years and regulated china’s banks so savings rose by 600%
What did T.V Soong create for the Guamindong government
National debt which meant that the government had a large and stable flow of finance that it could access
What did T.V Soong open in 1931
In 1931 he opened the first bond and stock markets in shanghai and set up the national economic council which offered loan projects that boosted economic development - however economic growth was still uneven
Issues with T.V’s tax system
Tended to predominantly tax consumer good so corporation tax revenues were still lo which meant that the new middle class contributed very little in income tax
