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Elusive Capital - Merchant Networks, Economic Institutions and Business Practices in Late Imperial China (Hardcover)
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Elusive Capital - Merchant Networks, Economic Institutions and Business Practices in Late Imperial China (Hardcover)
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Offering a fresh analysis of late imperial China, this cutting-edge
book revisits the roles played by merchant networks, economic
institutions, and business practices in the divergence between
Europe and China during the trade revolution. Focusing on the
operating modes of three major regional trading networks active in
Fujian, Huizhou, and Shanxi from the sixteenth to the nineteenth
centuries, Francois Gipouloux assesses the driving forces behind
their dynamism, the role they played in Chinese economic
development, and the constraints in which they were embedded.
Examining merchants' business practices, partnerships,and
investment strategies, chapters portray the three central figures
of China's economy - the financier, the middleman, and the business
entrepreneur - and their complex relationships with the imperial
bureaucracy. By analysing the divergent trajectory of seemingly
identical institutions in China and Europe, Elusive Capital takes a
comparative approach to shed light on the factors that inhibited
the transformation of commercial development into an industrial
revolution, ultimately discovering why capital accumulation proved
so elusive in late imperial China. Revealing novel insights from
primary documentation including trial accounts, Elusive Capital
will prove an invigorating read for students and scholars of
economic history, business studies, and Asian urban and regional
studies
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