To Buy Or to Build?

Hsien-ch’un Wang ()
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Hsien-ch’un Wang: National Tsing Hua University

Chapter Chapter 6 in Western Technology and China’s Industrial Development, 2022, pp 175-207 from Palgrave Macmillan

Abstract: Abstract Chapter 5 has shown that the technical progress of the Fuzhou Navy Yard slowed down after the late-1880s. A major reason for this was the shortage of funds. Since the mid-1870s, the navy yard had to handle the mounting costs of running the retained steamboats and building new ships with a fix budget. Reduced support limited the scale of facilities upgrade and affected the progress of shipbuilding works. The problem had reached such a point between 1889 and 1894 that it could not launch any shipbuilding project. The problem had much to do with a flawed funding arrangement in a fiscal system that did not see the financial needs for long-term investment in technology. This chapter argues that the weakness of the Qing government’s fiscal system had made it unfit to fund large-scale industrial operations and the government’s shift in policy had exposed such weaknesses that technology transfer was crippled.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-59813-4_6

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DOI: 10.1057/978-1-137-59813-4_6

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