Booklet 6 - The roles of individuals in promoting economic growth

Question 1

Li Hongzhang - first known

Answer 1

moderniser and skilled administrator
who organised resistance against the Taipings
sought to open up China to trade

Question 2

Li Hongzhang - responsibilities

Answer 2

in 1871, he was appointed viceroy of Zhili
allowed him to press through modernisations from Tianjin

Question 3

Li Hongzhang - industry

Answer 3

he built a coal mine, railways, a cotton mill and a steamship company in Zhili, making it the centre of chinese industry in the 1870s

Question 4

Li Hongzhang - telegraph

Answer 4

he introduced the telegraph and postal service to China
he was a pragmatist who believed that the Europeans were too powerful to dismiss

Question 5

Li Hongzhang - SS

Answer 5

primary figure

Question 6

Li Hongzhang - May 4th Movement

Answer 6

he died in 1901
but during this movement he was seen as a traitor for bowing to foreign powers

Question 7

Li Hongzhang - Mao

Answer 7

died in 1901
but was seen as a bourgeoise capitalist

Question 8

Sheng Xuanhai - Li Hongzhang

Answer 8

he convinced Li that railways, mines and ports couldn’t be built unless large amounts of credit from banks were available
but, until 1897, the only banks were western-owned. meant that investment was controlled by europe.

Question 9

Sheng Xuanhai - argument for a chinese owned bank

Answer 9

said that it would prevent the Qing from having to borrow from Europe
similar to Li - believed european ideas should be implemented

Question 10

The Mutual Protection of Southeast China

Answer 10

Li and Sheng
formed an allianced of provinces
refused to obey Cixi’s order to declare war on the 11 nation army as they knew defeat was inevitable
Sheng, as minister for telegraphy, prevented the transmission of message calling for war to be waged

Question 11

TV Soong - positions

Answer 11

variety
governor of bank of china
PM of Chiang Kai-Shek’s government

Question 12

TV Soong - education

Answer 12

Harvard University in USA
worked at the International Banking Corporation in New York so had banking experience

Question 13

TV Soong - what did he do in the 1920s

Answer 13

introduced a simplified tax system - doubled government revenues in 2 years
regulated china’s banks and savings rose by 600% by 1926

Question 14

TV Soong - 1931

Answer 14

set up the National Economic Council which offered loans for projects that boosted economic development.
despite these reforms economic growth was uneven - centered in urban areas

Question 15

by 1932..

Answer 15

70% of China’s manufacturing wealth still came from artisan handicrafts

Question 16

TV Soong - however.

Answer 16

despite soong’s efforts, living standards for chinese people had not changed much by the end of the 1930s

Question 17

TV Soong - resignation

Answer 17

finance minister 1933
in protest at the scale of army spending
this did not improve economic policy in china

Question 18

Mao - ideology

Answer 18

ideological break from soong, li and sheng
as he began to reverse china’s integration with the global capitalist system

Question 19

1949 - mao trading partners

Answer 19

instead of the uSA and Europe, the USSR became the main trading partner
within a decade this relationship had soured

Question 20

mao - ending economic isolation at the end of the period

Answer 20

1972 mao invited nixon to china
technology transfer organised

Question 21

example of mao valuing economic growth

Answer 21

5 year plans, collectivisation and GLF

Question 22

mao - cultural revolution

Answer 22

introduced chaos into industry and education
meant to sweep away ‘old ideas’ but actually attacked modern scientific thinkin

Question 23

mao - electricity production

Answer 23

slumped by 30%

Question 24

average growth rate under deng

Answer 24

10% per annum

Question 25

deng created

Answer 25

a hybrid of capitalist and state-controlled socialist economy

Question 26

deng’s not a capitalist but a

Answer 26

pragmatist - black/white cat

Question 27

the era of reform under deng allowed for a greater..

Answer 27

social mobility influx of workers to china’s cities provided SEZs with a large, cheap workforce (100 million peasants left)

Question 28

TV Soong created

Answer 28

the China Development Finance Corporation attempted to provide finance to modernise china. reluctant to hand over more power to foreigners. approached League of Nations - founding member Monnet connected foreign+chinese investment whilst limiting political control.

Question 29

Li Hongzhang and banking

Answer 29

proposed a first Sino-American bank in 1876 to fund industrialisation but this was opposed by conservatives

Question 30

boxers and banking

Answer 30

large amounts of cashw ere looted reudced the value of IBC-issued money counterfeit notes threatened to bankrupt IBC and caused a lack of confidence

Question 31

Sheng - IBC

Answer 31

formed the International Bank of China in 1897 modelled on HSBC but was established to break free of European control. allowed chinese investment for industry but was attacked by boxers

Question 32

under TV Soong, what percentage of wealth is from small manufacturing

Answer 32

still 70%

Question 33

deng and IMF

Answer 33

decentralised system

Question 34

under deng, what was encouraged

Answer 34

controlled foreign direct investment (FDI) e.g. heinz

Question 35

what did deng say

Answer 35

‘society provides for all’

Question 36

under mao - economy fixed

Answer 36

1962 deng and liu brought back private markets and imported grain from canada to fix the economy was fixed by 1964, but this partly causes cultural revolution