COPYRIGHT YEAR

1992

AUTHORS

Zuwei Shen, Richu Ding

TITLE

Foreign Trade and China’s Economic Modernisation

ABSTRACT

Because modern China’s foreign trade developed against the background of the world capitalist system, while China was a backward and underdeveloped country which had lost its sovereignty, some of its effects were harmful: Because it lacked the right to impose tariff protection, China’s foreign trade deficit increased over time. At the same time the price scissors existing between the prices of imported industrial products and those of exported farm and sideline products meant that foreign capitalists made large profits from trade, while China’s wealth flowed out of the country. This led to a serious shortfall in the accumulation of money capital, which in turn hindered the progress of industrialisation.Some foreign imports undermined Chinese indigenous products, thus impoverishing many millions of Chinese farmers and handicraft workers. After its integration into the world economy, Chinese agriculture often suffered from the vagaries of market competition; the decline in the silk and tea trades increased unrest among the producers and caused greater turbulence in Chinese rural society. After the emergence of Chinese national industry, the continued import of competitive foreign products occupied the markets of Chinese goods. To some extent, this competition suppressed the growth of Chinese industry.

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25 TRIPLES      24 PREDICATES      22 URIs      14 LITERALS

Subject Predicate Object
1 book-chapters:ee40d13965b69921e815e67cb91f7e5c sg:abstract Abstract Because modern China’s foreign trade developed against the background of the world capitalist system, while China was a backward and underdeveloped country which had lost its sovereignty, some of its effects were harmful: Because it lacked the right to impose tariff protection, China’s foreign trade deficit increased over time. At the same time the price scissors existing between the prices of imported industrial products and those of exported farm and sideline products meant that foreign capitalists made large profits from trade, while China’s wealth flowed out of the country. This led to a serious shortfall in the accumulation of money capital, which in turn hindered the progress of industrialisation.Some foreign imports undermined Chinese indigenous products, thus impoverishing many millions of Chinese farmers and handicraft workers. After its integration into the world economy, Chinese agriculture often suffered from the vagaries of market competition; the decline in the silk and tea trades increased unrest among the producers and caused greater turbulence in Chinese rural society. After the emergence of Chinese national industry, the continued import of competitive foreign products occupied the markets of Chinese goods. To some extent, this competition suppressed the growth of Chinese industry.
2 sg:abstractRights OpenAccess
3 sg:bibliographyRights Restricted
4 sg:bodyHtmlRights Restricted
5 sg:bodyPdfRights Restricted
6 sg:chapterNumber 11
7 sg:copyrightHolder Tim Wright
8 sg:copyrightYear 1992
9 sg:ddsId Chap11
10 sg:doi 10.1007/978-1-349-22199-8_11
11 sg:esmRights OpenAccess
12 sg:hasBook books:767393e79f706f6328ac60dfb19a91c7
13 sg:hasBookEdition book-editions:284fd1d9f148c5591e8474ff33c3cf2f
14 sg:hasContribution contributions:6431e906c1088934ca112f69e2655923
15 contributions:fbbdfcfde1ad67c0ca417e1149da46f2
16 sg:language En
17 sg:license http://scigraph.springernature.com/explorer/license/
18 sg:metadataRights OpenAccess
19 sg:pageFirst 165
20 sg:pageLast 176
21 sg:scigraphId ee40d13965b69921e815e67cb91f7e5c
22 sg:title Foreign Trade and China’s Economic Modernisation
23 sg:webpage https://link.springer.com/10.1007/978-1-349-22199-8_11
24 rdf:type sg:BookChapter
25 rdfs:label BookChapter: Foreign Trade and China’s Economic Modernisation
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