Individuals Behind Economic Growth 1860-1997

Question 1

Li Honghzhang main ideologies in 1870s-90s?

Answer 1

Architect of Self-strengthening movement, against Western control, knew China had to build up power gradually to be economically self-sufficient

Question 2

Li Honghzhang impact on industrialisation 1870-90s examples

Answer 2

Built a coal mine, railways, steam ship and cotton company (all in Zhili which was a centre of Chinese industry in the 1870-80s), introduced the telegraph/postal service, Kaiping coal mine

Question 3

Li Honghzhang impact on finance system 1870-90s

Answer 3

Proposed Sino-American Bank in 1876, supported by Prince Gong in 1897 with an $8 million loan, felt China needed economic success to gain military power to force Europeans/Japan out of China

Question 4

Li Honghzhang impact on living standards 1970-90s

Answer 4

Feared modern technology would sweep away Chinese culture and society, threatened Confucion ideology

Question 5

Sheng Xuanhai main ideologies behind economic growth 1890-1903

Answer 5

Had understanding of borrowing to boost investment, convinced Li Honghzhang the self-strengthening movement would fail unless there was a large availability of credit to fall back on

Question 6

Sheng Xuanhai actions and impact on Industrialisation 1890-1903?

Answer 6

Protected FDI by blocking transmissions from the boxer rebellions of war against foreigners, bank financed railway from Beijing to Hankou in 1905

Question 7

What famous bank did Sheng Xuanhai help to create, and what was the importance of this?

Answer 7

Bank of China in 1897, bank was able to fund large investment projects which the Qing refused to ($8 million loaned in 2 years) to aid growth

Question 8

How did the Bank of China ultimately fail?

Answer 8

During the boxer rebellion, large amounts of Chinese noted became counterfeit which caused a loss of confidence in the IBC

Question 9

What can the Bank of China be mainly credited for?

Answer 9

Changing the Chinese banking system

Question 10

What impact did Sheng Xuanhai have on improving living standards between 1890-1903

Answer 10

Improved infrastructure,wanted to stabilise and strengthen without inspiring revolution, created stability as went against Cixi and Boxers

Question 11

Where were T.V Soong’s ideas and roles behind economic growth 1917-1930s?

Answer 11

Understood the significance of Western capital ideas, was the economic minister for CKS during the 2nd Sino-Japanese War

Question 12

What actions and impacts did T.V Soong have on industrialisation between 1917-1930s?

Answer 12

Economic growth grew across China, by 1932 still 70% of manufactured goods in China came from households(shows lack of impact), large amounts of international competition meant less foreign exports in China

Question 13

What impacts and changes did TV Soong have on the finance system 1917-1930s?

Answer 13

1920s, Soong simplified the tax system which saw tax revenue double in 2 years, also regulated Chinese banks which saw savings increase by 600% in 1926

Question 14

What can T.V Soong be seen to have not had a positive impact on economic growth in the finance system?

Answer 14

He created national debt for the GMD by selling securities to Chinese people, he also resigned by 1933 as he was against gov. spending on military - made little impact

Question 15

What impacts did T.V Soong have on living standards?

Answer 15

Negative - low wages and poor safety saw many strikes (especially in mining), his tax reforms caused prices to rise, number of schools/hospitals was still inadequate by 1930s

Question 16

What was Mao’s ideas behind economic growth 1949-76?

Answer 16

Mao met US president Richard Nixon in 1972 and developed a friendship with USA, Mao quickly began to reverse China’s integration with Global capitalist systems

Question 17

What actions and impact did Mao have on industrialisation 1949-76?

Answer 17

China’s 5 year plans - able to establish communication and collectivisation, Great Leap Forward, Technology transfer with USA

Question 18

What economic damage did Mao create by 1969?

Answer 18

Per capita national income had contracted and steel production had fallen by 75% - shows failures of cultural revolution

Question 19

Who did Mao rely on for communist economic plans?

Answer 19

Zhou Enlai and Liu Xianqui

Question 20

What negative impacts did Mao have on Luigi’s standards between 1949-76?

Answer 20

Great famine (1958-62), resulted in around 30,000,000 deaths, Cultural Revolution caused violence, Great Leap Forward created dislocation

Question 21

How did Deng try and promote his ideas behind economic growth 1975-97?

Answer 21

Hybrid capitalist state controlled socialist economy - creation of a new middle class, prioritised economic reform over ideology, 4 modernisations

Question 22

Aims and impacts of Deng on industrialisation between 1975-97?

Answer 22

Expanded manufacturing, 100 million peasants left countryside for cities, increased trade (World Bank), millions of new factory workers

Question 23

Aims and impacts of Deng on financial systems between 1975-97

Answer 23

Creation of SEZ’s, property values increased, adopted capitalism, used loans from IMF, 10% increase annually between 1978-97

Question 24

Impacts and aims of Deng on living standards 1975-97

Answer 24

Poor conditions for migrant workers in SEZs, improved by privatising schools/clinics/utilities for some but created inequality