Tooze and Klein on China's Economic History and Future
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Hyperinflation in China: A Historical Perspective
This chapter explores the severe hyperinflation experienced in China from 1937 to 1949, driven by conflicts such as the Japanese invasion and the instability of the nationalist regime. It examines the broader economic and social upheavals tied to war, drawing parallels with other historical monetary crises while emphasizing the role of government actions and public confidence in financial systems. Additionally, it highlights how these historical events have shaped today's economic policies and the conservative positioning of China's central bank in contrast to Western practices.
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