Tomoko Shiroyama is Professor of Economic History in the Graduate School of Economics at Hitotsubashi University.

This is the first readily accessible, comprehensive account of the impact of the 20th century's most serious economic crisis on Republican China, whose experience of the global downturn took a very singular path.

• * Introduction Part I: The Years of Inflation and Laissez-Faire: Economic Trends prior to 1931 * The Silver Standard: China in the International Monetary System * The Coming of Industrialization: The Textile Industry in the Lower Yangzi Delta * Companies in Debt: The Capital Accumulation Problem Part II: The Depression Years, 1931-1937: The Transformation of Economics and Politics * The Agrarian Depression * Businesses in a Slump * The Shanghai Financial Crisis, 1934-1935 * Coping with the Crisis: The Currency Reform of November 1935 * Reaches and Limitations: Economic Policies and the Nationalist Government Reconsidered * Conclusion * Appendix: Estimates of China's International Balance of Payments * Notes * Bibliography * Character List * Index

Tomoko Shiroyama is Professor of Economic History in the Graduate School of Economics at Hitotsubashi University.

This is the first readily accessible, comprehensive account of the impact of the 20th century's most serious economic crisis on Republican China, whose experience of the global downturn took a very singular path.

• * Introduction Part I: The Years of Inflation and Laissez-Faire: Economic Trends prior to 1931 * The Silver Standard: China in the International Monetary System * The Coming of Industrialization: The Textile Industry in the Lower Yangzi Delta * Companies in Debt: The Capital Accumulation Problem Part II: The Depression Years, 1931-1937: The Transformation of Economics and Politics * The Agrarian Depression * Businesses in a Slump * The Shanghai Financial Crisis, 1934-1935 * Coping with the Crisis: The Currency Reform of November 1935 * Reaches and Limitations: Economic Policies and the Nationalist Government Reconsidered * Conclusion * Appendix: Estimates of China's International Balance of Payments * Notes * Bibliography * Character List * Index