China's Economic Development from 1860 to the Present: The Roles of Sovereignty and the Global Economy (Report‪)‬

Abstract: Radically different consequences flowed from China's interaction with the global economy during two periods, from 1860 to 1949, and from 1949 to the present. From 1860 to 1949, China's economy stagnated. From 1949 to the present, China's economy grew annually from 4 to 10 percent. 'These different rates resulted from a combination of the levels of Chinese sovereignty and the nature of the global economic environment during each period. From 1860 until 1949, foreign military-imposed unequal treaties reduced China's sovereignty levels and the international economic environment was characterized by predatory trade practices of the European imperialist powers. Together, these two factors reduced the opportunities for China to economically develop through interaction with the global environment from 1860 to 1949, and lead to Chinese economic stagnation.