Chinese economic developments in the nineteenth century Essay

Chinese economic developments in the nineteenth century - Essay Example The paper will also look at China’s scope in foreign trade and the changing trends occasioned by a variety of trading empires from the west and in particular the period of treaty port which opened up china’s ports to the world. On focus is china’s conflict with a growing west of the 19th century especially England which was confrontational. Another consideration is the crises being experienced then in China due to rebellion and other natural and social issues that opened her market to the west. China in the 19th century Just as the emergence of China in the 21st century has had a drastic effect on the Western economies today, the same can be said, but in reverse, of China two centuries ago when European countries took over as the world economic power houses rendering China as a client state. China’s volume of foreign exchange continued to be low and restricted but later a remarkable increase was witnessed as product from different corners especially Europe and neighboring Far East countries started flowing into the Chinese market (Keller, Li and Shiue 2010, p. 1). Below is a graphical illustration showing China’s foreign trade with the leading economies between 1865 and 1900. Source: Keller, Li and Shiue (2010, P.42). Chinese ports became the conduit by which foreign goods were transited through. During this period China was still prosperous with a great endowment of natural resources; a colossal though contented populace that boasted of a prestigious royal dynasty domestically and overseas (Asia for Educators 2004, p. 1). China’s dynastic empire was the leading economy in the world at the start of 19th century and her Gross Domestic Product (GDP) surpassed the combined GDPs of Western Europe, the North America, Japan and...This essay offers a retrospective comprehensive review of the economic developments in China during the nineteenth century. The paper explores Chinese scope in foreign trade in that period and the ch anging trends, which were occasioned by a variety of trading empires from the west and in particular the period of treaty port which opened up china’s ports to the world. Just as the emergence of China in the twenty first century has had a drastic effect on the Western economies today, the same can be said, but in reverse, of China two centuries ago when European countries took over as the world economic power houses rendering China as a client state. The entry into China by the Europeans and the subsequent forced opening of Chinese port and eventual setting up of treaty ports that favored the West over the Chinese culminated into an influx of a variety of products range and goods as well, as we saw above the smuggling of opium an item that led to the opium wars. This resulted into China increasingly turning to a client state during the period of nineteenth century as imported rate of imported new goods grew yearly Two centuries ago China suffered humiliation from the west when her territory was defiled and their culture trampled upon. From the rich history of China it is evident that though the West forcefully entered China and imposed its agenda selfishly by compelling the Chinese leadership to enter into biased treaties, a thing the Chinese detested, in the long run it is the Chinese who have benefited.