Foreign Banks and Global Finance in Modern China: Banking on the Chinese Frontier, 1870-1919

Ghassan Moazzin's study explores the history of foreign banks in late 19th and early 20th century China, highlighting their role in facilitating China's financial integration into the global economy and providing the infrastructure for modern economic globalization.

Format: Hardback
Length: 352 pages
Publication date: 07 July 2022
Publisher: Cambridge University Press

In this comprehensive exploration, Ghassan Moazzin delves into the intricate history of foreign banks in late nineteenth and early twentieth century China, a period marked by a significant influx of foreign financial institutions into the country and a remarkable surge in China's foreign trade and interactions with international capital markets. Drawing upon a diverse array of German, English, Japanese, and Chinese primary sources, including business records, government documents, and personal papers, Moazzin meticulously reconstructs the role played by foreign banks in facilitating China's financial integration into the inaugural global economy and providing the essential financial infrastructure for the emergence of modern economic globalization in China. Foreign Banks and Global Finance in Modern China serves as a pivotal testament to the pivotal role played by international finance and foreign banks and capital markets at pivotal junctures in modern Chinese history.

Foreign banks played a crucial role in shaping China's financial landscape during the late nineteenth and early twentieth centuries. With a substantial influx of foreign financial institutions, China experienced a rapid increase in foreign trade and its interactions with international capital markets. Ghassan Moazzin, in his extensive study, sheds critical new light on this period, utilizing a wide range of German, English, Japanese, and Chinese primary sources, including business records, government documents, and personal papers.

Moazzin's research reveals how foreign banks facilitated China's financial integration into the global economy. By providing access to capital, foreign banks helped Chinese businesses expand their operations and participate in international trade. They also established branches and subsidiaries in China, enabling local businesses to access global financial markets and expand their reach.

Furthermore, foreign banks played a vital role in developing China's financial infrastructure. They introduced modern banking practices, such as deposit banking, credit systems, and risk management, which helped to stabilize China's financial system and promote economic growth. They also provided technical expertise and training to Chinese financial institutions, helping them to improve their operations and compete with international banks.

The impact of foreign banks on China's financial development was significant. They facilitated the flow of foreign capital into China, which helped to fund infrastructure projects, industrialization, and economic growth. They also played a role in promoting financial stability and reducing financial risks, particularly during periods of economic uncertainty.

However, the role of foreign banks in China was not without its challenges. They faced competition from local banks and financial institutions, which were often more familiar with the local market and had stronger relationships with Chinese businesses. They also faced regulatory challenges, particularly in terms of compliance with local laws and regulations.

Despite these challenges, foreign banks continued to play a significant role in China's financial development. They continued to expand their operations and provide financial services to Chinese businesses and individuals. They also contributed to the development of China's capital markets, which allowed Chinese companies to raise capital and participate in global financial transactions.

In conclusion, foreign banks played a crucial role in shaping China's financial landscape during the late nineteenth and early twentieth centuries. They facilitated China's financial integration into the global economy, developed its financial infrastructure, and promoted economic growth. While they faced challenges, they continued to play a significant role in China's financial development and contributed to the country's rise as a global economic power.

Weight: 626g
Dimension: 159 x 233 x 26 (mm)
ISBN-13: 9781316517031