The Overseas Chinese and Late Ch'ing Economic Modernization

In: Modern Asian studies, Band 16, Heft 2, S. 217-232

Abstract

China's early economic modernization in the Late Ch'ing period has attracted a great deal of attention from economic historians who have been trying to find out causes for the failure of this attempt, and to measure the impact of Western imperialism. What they have generally ignored is the fact that China at that time was trying to break free from the growing foreign economic control, and to find an alternative to the foreign capital. The alternative was the overseas Chinese capital which, in the belief of the Ch'ing government, was capable of taking over the role of foreign capital in the economic modernization of China. This paper seeks to examine the measures taken by the Ch'ing government to attract overseas Chinese capital, and to analyse why the policy of using overseas Chinese capital failed.