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Enterprise and Society Advance Access originally published online on May 28, 2007
Enterprise and Society 2007 8(2):428-430; doi:10.1093/es/khm032
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Copyright © The Author 2007. Published by Oxford University Press on behalf of the Business History Conference.

Man-houng Lin. China Upside Down: Currency, Society, and Ideologies, 1808–1856

Man-houng Lin. China Upside Down: Currency, Society, and Ideologies, 1808–1856. Cambridge MA: Harvard University Asia Center, 2006. xxvi + 362 pp. ISBN 0-674-02268-8, $49.95

The first 10% of the full text of this article appears below.

From the sixteenth through the early nineteenth century, the Qing empire had been the world's greatest recipient of global silver. During the Daoguang reign (1820–1850), however, this was dramatically reversed, and the empire suffered massive silver outflows. A disrupted monetary system brought about the so-called "Daoguang depression." State revenues declined, and rising maintenance costs led to progressive infrastructural decay. Increased costs and deflated prices led to declines in manufacturing, decreased hiring, and rising unemployment. Prices paid to rural . . . [Full Text of this Article]

William T. Rowe

Johns Hopkins University


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