The Rise and Fall of a Public Debt Market in 16th-Century China PDF Download
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Author: Wing-kin Puk
Publisher: BRILL
ISBN: 9004306404
Category : History
Languages : en
Pages : 210
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Book Description
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.
Author: Wing-kin Puk
Publisher: BRILL
ISBN: 9004306404
Category : History
Languages : en
Pages : 210
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Book Description
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.
Author: Benjamin Zachariah
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 3110677792
Category : History
Languages : en
Pages : 314
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Book Description
Have Marxian ideas been relevant or influential in the writing and interpretation of history? What are the Marxist legacies that are now re-emerging in present-day histories? This volume is an attempt at relearning what the “discipline” of history once knew – whether one considered oneself a Marxist, a non-Marxist or an anti-Marxist.
Author: Eric Girardin
Publisher: Springer Nature
ISBN: 303017123X
Category : Business & Economics
Languages : en
Pages : 141
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Book Description
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.
Author: Gipouloux, François
Publisher: Edward Elgar Publishing
ISBN: 1800889909
Category : Business & Economics
Languages : en
Pages : 328
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Book Description
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.
Author:
Publisher: BRILL
ISBN: 9004506578
Category : History
Languages : en
Pages : 372
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Book Description
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.
Author: Niv Horesh
Publisher: Routledge
ISBN: 131740498X
Category : Business & Economics
Languages : en
Pages : 278
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Book Description
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.
Author: Joseph P. McDermott
Publisher: Cambridge University Press
ISBN: 1108850650
Category : History
Languages : en
Pages : 481
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Book Description
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.
Author: Kenneth M Swope
Publisher: Routledge
ISBN: 1000134660
Category : History
Languages : en
Pages : 790
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Book Description
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.
Author: Joseph P. McDermott
Publisher: Cambridge University Press
ISBN: 1107048516
Category : Business & Economics
Languages : en
Pages : 481
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Book Description
In examining the key merchant group in late imperial China this book provides a framework for understanding China's path to modernity.
Author: Michael Szonyi
Publisher: Princeton University Press
ISBN: 0691197245
Category : History
Languages : en
Pages : 323
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Book Description
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.
