Return to the Cage: Monetary Policy in China’s First Five-Year Plan

Lowenstein, Matthew

doi:10.1353/tcc.2019.0003

Cited by 4 publications

(1 citation statement)

References 19 publications

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“…115 Cash was withdrawn from circulation. 116 And "puppetlike micro-management institutions" were established to supervise and coordinate exchange. 117 According to scholars, such measures "totally squeezed out the market" and transformed China's commercial Chinese business history's prominence will likely continue to grow in tandem with the rising geopolitical and economic power of the PRC.…”

Section: Business Under Socialismmentioning

confidence: 99%

Reframing Chinese Business History

Frost¹

2021

Bus. Hist. Rev.

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Business history is expanding to include a greater plurality of contexts, with the study of Chinese business representing a key area of growth. However, despite efforts to bring China into the fold, much of Chinese business history remains stubbornly distal to the discipline. One reason is that business historians have not yet reconciled with the field's unique origins and intellectual tradition. This article develops a revisionist historiography of Chinese business history that retraces the field's development from its Cold War roots to the present day, showing how it has been shaped by the particular questions and concerns of “area studies.” It then goes on to explore five recent areas of novel inquiry, namely: the study of indigenous business institutions, business and semi-colonial context, business at the periphery of empire, business during socialist transition, and business under Chinese socialism. Through this mapping of past and present trajectories, the article aims to provide greater coherence to the burgeoning field and shows how, by taking Chinese business history seriously, we are afforded a unique opportunity to reimagine the future of business history as a whole.

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Section: Business Under Socialismmentioning

confidence: 99%

Reframing Chinese Business History

Frost¹

2021

Bus. Hist. Rev.

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Markets under Mao: Measuring Underground Activity in the Early PRC

Frost¹,

Li²

2023

The China Quarterly

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In this article we develop and analyse novel datasets to retrace the persistence and scale of underground market activity in Maoist China. We show that, contrary to received wisdom, Chinese citizens continued to engage in market-based transactions long after “socialist transformation” was ostensibly complete, and that this activity constituted a substantial proportion of local economic output throughout the Maoist era. This helps to explain, in part, why, when markets were officially reopened in China, private economic activity took off. We arrive at these findings through the development and analysis of novel datasets based on unconventional historical sources – namely, a collection of 2,690 cases of “speculation and profiteering” that were recovered from flea markets in eastern China. We show how these grassroots sources can be systematically analysed and used, in lieu of official statistical aggregates, to develop new insights into the macro workings of the Maoist economy.

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A Study on the Relationship between the First Five Year Plan and Soviet Aid to China

Huo,

Ma,

2024

SSRN Journal

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Return to the Cage: Monetary Policy in China’s First Five-Year Plan

Cited by 4 publications

References 19 publications

Reframing Chinese Business History

Reframing Chinese Business History

Markets under Mao: Measuring Underground Activity in the Early PRC

A Study on the Relationship between the First Five Year Plan and Soviet Aid to China

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