Opening up China to foreigners, 1860–70- Treaty ports and the significance of growing foreign trade; the British in Shanghai and penetration of the Yangtze valley. Flashcards
what was the treaty of Tianjin an opportunity for Britain to do
redress the treaty of Nanjing (1842) – open up more ports to trade
what did the Treaty of Tianjin legalise
the import of opium- silver flooded out of china to pay for opium
what was an outcome of increasing trade for china
broadening of horizons- learn the way of the west
what was a downside of increasing trade for china
imports entered through british ports which were subject to extraterritoriality- tariffs were set low at 5% so mass importation of british goods occurred which were better that china’s goods- stopped chinese business developing
how did the chinese commercial class evolve
compradors (chinese entrepreneurs) assisted foreign firms
why were compradors important?
served as role models and guides to chinese businessmen- helped by extraterritoriality as it gave them more freedom
where was foreign influence limited to ?
the treaty ports
what did British and US settlements merge to form in shanghai in 1863
shanghai international settlement
what was beneficial about the geography of the shanghai international settlement
it was at the mouth of the Yangztee- gave british access up the river, set up more treaty ports
what did the shanghai international settlement have
its own police force, fire department and armed services
when did HSBC open
1865
did trade significantly alter Chinese economy?
no
