|
Chinese Hyperinflation
The Chinese hyperinflation was the hyperinflation, extreme inflation that emerged in China during the late 1930s, extended to Taiwan after the Surrender of Japan, Japanese surrender in 1945, and concluded in the early 1950s. In the 1935 currency reform, the Nationalist government of China abandoned the traditional silver standard, in response to deflation caused by rising silver prices, and introduced its own Banknote, paper currency, the Chinese National Currency (CNC). However, this currency was issued without sufficient credit or reserve backing. The Nationalist government's reliance on deficit spending led to unchecked monetary expansion, resulting in rapid currency depreciation. This situation was aggravated by the financial burden of the Second Sino-Japanese War and the subsequent Chinese Civil War. To control the price hike, the government tried to introduce a new currency, namely the Chinese gold yuan (GY) in 1948, along with price and wage controls, which proved infeasibl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chinese Civil War
The Chinese Civil War was fought between the Kuomintang-led government of the Republic of China and forces of the Chinese Communist Party, continuing intermittently since 1 August 1927 until 7 December 1949 with a Communist victory on mainland China. The war is generally divided into two phases with an interlude: from August 1927 to 1937, the KMT-CCP Alliance collapsed during the Northern Expedition, and the Nationalists controlled most of China. From 1937 to 1945, hostilities were mostly put on hold as the Second United Front fought the Japanese invasion of China with eventual help from the Allies of World War II, but even then co-operation between the KMT and CCP was minimal and armed clashes between them were common. Exacerbating the divisions within China further was that a puppet government, sponsored by Japan and nominally led by Wang Jingwei, was set up to nominally govern the parts of China under Japanese occupation. The civil war resumed as soon as it becam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chinese Gold Yuan
The Chinese gold yuan (also known as golden round, golden yuan, among others) was a defunct legal tender currency of China between August 1948 and 1949. It was a method used by the Republic of China government to accumulate gold from its citizens in preparation to relocate to Taiwan. It circulated in the country under the effective control of the Government of the Republic of China known as Taiwan Province, R.O.C., which issued paper money on August 19, 1948. This currency was notorious for vicious inflation due to inadequate issuance preparation and failure to strictly enforce issuance limits. In the early days of the issuance of the Golden yuan, the government used executive actions to force the public to exchange gold, foreign currency for the new currency. The legal exchange rate was 0.22217 grams of gold per gold yuan but it could not be honored. The sharply depreciating Fabi currency was at the rate of one golden yuan of the yen to Fabi $3 million, and this rate was used for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wartime Inflation In Chinese Cities, 1938-1945
Wartime may refer to: * Wartime, Saskatchewan, a small community in Saskatchewan, Canada * Wartime, a formal state of war, as opposed to peacetime * ''Wartime'' (film), a 1987 science fiction film spin-off of the TV series ''Doctor Who'' * ''Wartime: Understanding and Behavior in the Second World War'', a 1989 book by Paul Fussell Paul Fussell Jr. (22 March 1924 – 23 May 2012) was an American cultural and literary historian, author and university professor. His writings cover a variety of topics, from scholarly works on eighteenth-century English literature to commentar ... See also * {{disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of The Republic Of China (Taiwan)
The Central Bank of the Republic of China (Taiwan) (CBC), known in English from 1924 to 2007 as the Central Bank of China, is the central bank of the Republic of China, once founded in Mainland China and since relocated to Taiwan. Its legal and common name in Chinese is literally translated as the "Central Bank". The central bank is administered under the Executive Yuan of the ROC government. (''Central Bank Law'') History Mainland China 
The bank was originally prop ...
[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balance Of Trade
The balance of trade, commercial balance, or net exports (sometimes symbolized as NX), is the difference between the monetary value of a nation's exports and imports over a certain time period. Sometimes a distinction is made between a balance of trade for goods versus one for services. The balance of trade measures a flow of exports and imports over a given period of time. The notion of the balance of trade does not mean that exports and imports are "in balance" with each other. If a country exports a greater value than it imports, it has a trade surplus or positive trade balance, and conversely, if a country imports a greater value than it exports, it has a trade deficit or negative trade balance. As of 2016, about 60 out of 200 countries have a trade surplus. The notion that bilateral trade deficits are bad in and of themselves is overwhelmingly rejected by trade experts and economists. Explanation The balance of trade forms part of the current account, which includes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debasement
A debasement of coinage is the practice of lowering the intrinsic value of coins, especially when used in connection with commodity money, such as gold or silver coins. A coin is said to be debased if the quantity of gold, silver, copper or nickel in the coin is reduced. Example In Roman currency, the value of the denarius was gradually decreased over time as the Roman government altered both the size and the silver content of the coin. Originally, the silver used was nearly pure, weighing about 4.5 grams. From time to time, this was reduced. During the Julio-Claudian dynasty, the denarius contained approximately 4 grams of silver, and then was reduced to 3.8 grams under Nero. The denarius continued to shrink in size and purity, until by the second half of the third century, it was only about 2% silver, and was replaced by the Argenteus. Effects Debasement lowers the intrinsic value of the coinage and so more coins can be made with the same quantity of precious metal. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold Standard
A gold standard is a Backed currency, monetary system in which the standard economics, economic unit of account is based on a fixed quantity of gold. The gold standard was the basis for the international monetary system from the 1870s to the early 1920s, and from the late 1920s to 1932 as well as from 1944 until 1971 when the United States unilaterally terminated convertibility of the US dollar to gold, effectively ending the Bretton Woods system. Many states nonetheless hold substantial gold reserves. Historically, the silver standard and bimetallism have been more common than the gold standard. The shift to an international monetary system based on a gold standard reflected accident, network externalities, and path dependence. Great Britain accidentally adopted a ''de facto'' gold standard in 1717 when Sir Isaac Newton, then-master of the Royal Mint, set the exchange rate of silver to gold too low, thus causing silver coins to go out of circulation. As Great Britain became t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagion began around September and led to the Wall Street stock market crash of October 24 (Black Thursday). It was the longest, deepest, and most widespread depression of the 20th century. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II. Devastating effects were seen in both rich and poor countries with falling personal income, prices, tax revenues, and profits. International trade fell by more than 50%, unemployment in the U.S. rose to 23% ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Silver Standard
The silver standard is a monetary system in which the standard economic unit of account is a fixed weight of silver. Silver was far more widespread than gold as the monetary standard worldwide, from the Sumerians 3000 BC until 1873. Following the discovery in the 16th century of large deposits of silver at the Cerro Rico in Potosí, Bolivia, an international silver standard came into existence in conjunction with the Spanish pieces of eight. These silver dollar coins played the role of an international trading currency for nearly four hundred years. The move away from the silver to the gold standard began in the 18th century when Great Britain set the gold guinea’s price in silver higher than international prices on the recommendation of Sir Isaac Newton, attracting gold and putting them on a de facto gold standard. Great Britain formalized the gold standard in 1821 and introduced it to its colonies afterwards. Imperial Germany’s move to the gold standard in 1873 triggered ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Da-Qing Bank
The Da-Qing Bank (, , Wade–Giles romanization Ta-Ching Bank), also known as the Great Qing Bank, or previously Hubu Bank (or Hupu Bank), was a state-controlled entity established by the Qing dynasty in 1905 to serve as Imperial China's first central bank. It issued banknotes that were intended to unify the Qing dynasty's currency system. In 1912 following the Xinhai Revolution, the Bank of China was created to take over the role of the Da-Qing Bank, which was liquidated in an orderly manner. Name The bank's name "Da Qing yinhang" literally translates as "Great Qing Bank" or "Bank of the Great Qing", with "Great Qing" being synonymous with the Chinese Empire under the Qing dynasty. Western scholars commonly use the name Da-Qing Bank or Great Qing Bank. From 1905 to 1908, the bank's full name was name was "Great Qing Bank of the Ministry of Revenue" (Da Qing hubu yinhang, zh, 大清戶部銀行), also sometimes referred to in English as "Hubu Bank" or (in Wades-Giles romanizat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Qing Dynasty
The Qing dynasty ( ), officially the Great Qing,, was a Manchu-led imperial dynasty of China and the last orthodox dynasty in Chinese history. It emerged from the Later Jin dynasty founded by the Jianzhou Jurchens, a Tungusic-speaking ethnic group who unified other Jurchen tribes to form a new "Manchu" ethnic identity. The dynasty was officially proclaimed in 1636 in Manchuria (modern-day Northeast China and Outer Manchuria). It seized control of Beijing in 1644, then later expanded its rule over the whole of China proper and Taiwan, and finally expanded into Inner Asia. The dynasty lasted until 1912 when it was overthrown in the Xinhai Revolution. In orthodox Chinese historiography, the Qing dynasty was preceded by the Ming dynasty and succeeded by the Republic of China. The multiethnic Qing dynasty lasted for almost three centuries and assembled the territorial base for modern China. It was the largest imperial dynasty in the history of China and in 1790 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
5 Yuan - Central Bank Of China (1936) 01
5 (five) is a number, numeral (linguistics), numeral and numerical digit, digit. It is the natural number, and cardinal number, following 4 and preceding 6, and is a prime number. It has attained significance throughout history in part because typical humans have five Digit (anatomy), digits on each hand. In mathematics 5 is the third smallest prime number, and the second super-prime. It is the first safe prime, the first good prime, the first balanced prime, and the first of three known Wilson primes. Five is the second Fermat prime and the third Mersenne prime exponent, as well as the third Catalan number, and the third Sophie Germain prime. Notably, 5 is equal to the sum of the ''only'' consecutive primes, 2 + 3, and is the only number that is part of more than one pair of twin primes, (3, 5) and (5, 7). It is also a sexy prime with the fifth prime number and first Repunit#Decimal repunit primes, prime repunit, 11 (number), 11. Five is the third factorial prime, an alternat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
