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Ep. 318 | The History of Taiwan (Part 9)
The China History Podcast
The Rise and Fall of Chunchung
In 1949, Chunchung launched land reform on Taiwan. A big chunk of the seized former Japanese agricultural lands were sold at subsidized prices to poor farmers. More than half of all land in Taiwan had been owned by the Japanese. So handing this land over to rural farmers did wonders for building a political base for the KMT in the countryside. In June 1949, the new Taiwan dollar was introduced at one NT to 40,000 old Taiwan dollars.
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