Financing Imperialism: British and American Bankers as Vectors of Imperial Expansion in China, 1908–1920

Clarence B. Davis

Business History Review, 1982, vol. 56, issue 2, 236-264

Abstract: Few would deny that British and American bankers played a large and often controversial role in the western imperialism that reached its zenith in China during the early years of the twentieth century. China had always seemed to be a country where large investments would bring handsome returns; many individuals hoped to take advantage of the situation; and capital invested there did indeed have far-reaching, unforeseen ramifications. Among the many contentious issues in the bankers' story, however, is the question of intent and motivation. Reduced to its simplest terms, did the bankers seek to manipulate national policy in an unbridled quest for profit? Or were they the willing, even altruistic agents of governments bent upon imperial ventures? Professor Davis assesses this question from the western perspective. Having based his research on financial, diplomatic, and personal records, he suggests that the objectives and activities of the bankers, vis-à-vis govenment policymakers, were far more shifting and complex than has been generally perceived.

Date: 1982
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