"The demise of state-owned enterprises, the transformation of collectives into shareholding cooperatives, and the creation of investment opportunities through stock markets indicate China’s movement from a socialist, state-controlled economy toward a socialist market economy. Yet, contrary to high expectations that China’s new enterprises will become like corporations in capitalist countries, management often remains under the control of the onetime bureaucrats who ran the socialist enterprises. The concepts, definitions, and interpretations of property rights, corporate structures, and business practices in contemporary China have historical, institutional, and cultural roots. In tracing the development under founder Zhang Jian (1853–1926) and his successors of the Dasheng Cotton Mill in Nantong into a business group encompassing, among other concerns, cotton, flour, and oil mills, land development companies, and shipping firms, the author documents the growth of regional enterprises as local business empires from the 1890s until the foundation of the People’s Republic in 1949. She focuses on the legal and managerial evolution of limited-liability firms in China, particularly issues of control and accountability; the introduction and management of industrial work in the countryside; and the integration and interdependency of local, national, and international markets in Republican China."

WINNER OF THE BANCROFT PRIZE • A Pulitzer Prize finalist that's as unsettling as it is enlightening: a book that brilliantly weaves together the story of cotton with how the present global world came to exist. “Masterly … An astonishing achievement.” —The New York Times The empire of cotton was, from the beginning, a fulcrum of constant global struggle between slaves and planters, merchants and statesmen, workers and factory owners. Sven Beckert makes clear how these forces ushered in the world of modern capitalism, including the vast wealth and disturbing inequalities that are with us today. In a remarkably brief period, European entrepreneurs and powerful politicians recast the world’s most significant manufacturing industry, combining imperial expansion and slave labor with new machines and wage workers to make and remake global capitalism.

In recent years the phenomenal rise of the economies of China and India has led to a proliferation of academic studies. Much of the focus has been on economic performance, development strategies and the comparative advantage of the two economies. A comparative study of business as an agent of change has been lacking This volume brings together articles by leading scholars in the field of Chinese and Indian business who offer fresh perspectives on the historical antecedents of business in the two economies.

This book examines the relationship between business expansion and the structure of business in pre-war China through a careful and pioneering study of the enterprises of Liu Hongsheng during the 1920s and 1930s. Unlike previous studies that have concentrated on such conceptual discussions as ‘networks’ and the role of the state in Chinese economic and business history, this present work focuses on the institutional changes within Chinese business to critically delineate the major institutions in the working of Chinese-owned enterprises. Not only does it explore those institutions of Western origin, such as the company and modern banking, but also those of native tradition. Liu Hongsheng was one of the leaders of the Chinese business community in Shanghai from the 1910s to the early 1950s. Through the examination, utilizing a large number of previous unused archival materials, of the major lines of his businesses including coal-distribution, wharf operations, cement making, match-manufacturing, banking, and real estate, this study identifies the major institutional changes involved in the course of the expansion of the whole business before the outbreak of the Second Sino-Japanese War. In particular, the author argues that the ‘accounts office’ or ‘zhangfang’ was the core of the organization. This book will be of great interest to specialists and students of Chinese business and economic history. It also provides a base for comparative business and economic history, especially for those who are interested in comparing European and American businesses with the Chinese ones. Lastly, this book serves the interest of scholars and students of East Asian history, who will find in Liu’s story a substantial example of the creative institutional dimension of business in the Chinese diaspora. “Professor Chan has richly documented the fascinating business practices used by the Chinese capitalist Liu Hongsheng: his devious maneuvers as a comprador taking actions contrary to the wishes of his foreign employer; his jousting as chairman of the board with unruly Chinese shareholders in a limited liability company; his inventive accounting as a venture capitalist financing industrial enterprises. With a firm command of archival materials, Chan is able to reveal seldom seen inner workings of Chinese business.” —Sherman Cochran, Hu Shih Professor of Chinese History, Cornell University

By tracing the history of Yudahua from the late nineteenth century to the middle of the twentieth century, this study analyzes a successful inland business model among textile companies in modern China. The steady growth of this enterprise relied primarily on its strategy to focus on low-end markets and to locate new mills in underdeveloped interior regions. This strategy further allowed the enterprise to pioneer industrialization in its host localities, demonstrating a major social and economic impact on the local societies. At the same time, Yudahua’s unique team leadership pattern—five leading families shared its ownership and management—made the business an atypical family firm and allowed relatively easy institutional departure from Chinese social networks and adoption of Western corporate hierarchy. Therefore, by the late 1940s, Yudahua had gradually developed into a fairly integrated business group with a unified management structure and routinized connections between its member mills, which differed noticeably from the loose alliances normally found in other early twentieth-century Chinese business conglomerates.

This impressive collection offers the first systematic global and comparative history of textile workers over the course of 350 years. This period covers the major changes in wool and cotton production, and the global picture from pre-industrial times through to the twentieth century. After an introduction, the first part of the book is divided into twenty national studies on textile production over the period 1650-2000. To make them useful tools for international comparisons, each national overview is based on a consistent framework that defines the topics and issues to be treated in each chapter. The countries described have been selected to included the major historic producers of woollen and cotton fabrics, and the diversity of global experience, and include not only European nations, but also Argentina, Brazil, China, Egypt, India, Japan, Mexico, Turkey, Uruguay and the USA. The second part of the book consists of ten comparative papers on topics including globalization and trade, organization of production, space, identity, workplace, institutions, production relations, gender, ethnicity and the textile firm. These are based on the national overviews and additional literature, and will help apply current interdisciplinary and cultural concerns to a subject traditionally viewed largely through a social and economic history lens. Whilst offering a unique reference source for anyone interested in the history of a particular country's textile industry, the true strength of this project lies in its capacity of international comparison. By providing global comparative studies of key textile industries and workers, both geographically and thematically, this book provides a comprehensive and contemporary analysis of a major element of the world's economy. This allows historians to challenge many of the received ideas about globalization, for instance, highlighting how global competition for lower production costs is by no means a uniquely modern issue, and has b

In 2009 the Fairbank Center for Chinese Studies convened a major conference to discuss the health and longevity of China’s ruling system and to consider a fundamental question: After three decades of internal strife and turmoil, followed by an era of reform, entrepreneurialism, and internationalization, is the PRC here for the dynastic long haul? Bringing together scholars and students of China from around the world, the gathering witnessed an energetic exchange of views on four interrelated themes: polities, social transformations, wealth and well-being, and culture, belief, and practice. Edited and expanded from the original conference papers, the wide-ranging essays in this bilingual volume remain true to the conference’s aim: to promote open discussion of the past, present, and future of the People’s Republic of China.