By Kaoru Sugihara
Smooth Asian financial historical past has usually been written by way of Western impression and Asia's reaction to it. This quantity argues that the expansion of intra-regional alternate, migration, and capital and cash flows used to be a very important issue that decided the process East Asian fiscal development.
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Additional resources for Japan, China, and the Growth of the Asian International Economy, 1850-1949 (Japanese Studies in Economic and Social History) (v. 1)
7 lbs. cloth is consumed to a less extent; other weights meet with little or no enquiry. A considerable proportion of the trade is in the hands of Chinese, who purchase largely for this market at the Shanghae auctions. (CR on Hiogo 1874: 51–2 (Vol. 5: 547–8) ) In addition to gray shirting, Chinese were the main importers of T-cloth (29,808 pieces) and chintz (46,514 pieces), accounting for the majority of such goods that were shipped from Shanghai to Kobe. Supporting evidence for the importance of Chinese merchants in Kobe’s import trade is provided by the fact that in 1874, the first year in which numbers are recorded for the Chinese population, foreigners in the city numbered 1,022, of whom 372 were Westerners and 650 were Chinese (Suwaki and Yasui 1988: 3).
Chapter 8 argues that the Chinese economy could be characterized by internal disintegration between 1850 and the late 1870s, followed by a successful period of integration which lasted until around the end of the Qing era, and then a shiftback towards disintegration until 1937, after which war moved the Nationalist government to the interior, while splitting this area from the Japanese-occupied parts of the littoral region at the same time. Putting the findings of this and the next chapters together, it is possible to see that 16 Kaoru Sugihara the period to about 1911 saw the growth of a complex network of interregional commodity flows, involving vast hinterland areas.
In contrast, most of the gray shirting laid in for shipment to Japan was of low quality, of the type that local Shanghai merchants and Ningbo kebang bought as cheap fabric for use in dying (NCH, October 5, 1876). Moreover, it was reported that ‘‘The Ningpo dealers are trying hard to work off their former speculative purchases of low 81⁄4 lbs. Grey Shirtings, and disappointed in this, they are shipping them to Japan’’ (NCH, September 2, 1876). Reflecting on the imports of cotton goods for the previous year, the commercial section described the Japan market at the beginning of 1876: Our market has been much indebted to Japan, during the year under review, for taking off our surplus stocks of Grey Shirtings, Velvets, and Figured Lustres.
Japan, China, and the Growth of the Asian International Economy, 1850-1949 (Japanese Studies in Economic and Social History) (v. 1) by Kaoru Sugihara