The Gilded Age and Progressive Era
The Mythic China Market and Foreign Banks
Foreign banks saw great opportunity in China. Financing trade and commercial activities such as railroad construction was lucrative. Like all investments there is risk and foreign banks faced substantial risks in the Gilded Age and Progressive Era. Wars and revolutions threatened growth, and banking in many ways sparked wars and revolutions. Ghassan Moazzin's book Foreign Banks and Global Finance in Modern China: Banking on the Chinese Frontier, 1870–1919 explores these turbulent years of foreign investment.
Ghassan Moazzin, Foreign Banks and Global Finance in Modern China: Banking on the Chinese Frontier, 1870–1919 (2022).
Michael Schiltz, Accounting for the Fall of Silver: Hedging Currency Risk in Long-Distance Trade with Asia, 1870–1913 (2020).
Austin Dean, China and the End of Global Silver, 1873–1937 (2020).
Geoffrey Jones, British Multinational Banking 1830–1990 (1993).
Shizuya Nishimura, Ranald Michie and Suzuki Toshio (eds.), The Origins of International Banking in Asia: The Nineteenth and Twentieth Centuries (2012).
Linsun Cheng, Banking in Modern China: Entrepreneurs, Professional Managers and the Development of Chinese Banks, 1897–1937 (2003).