This illuminating study of the evolution of Chinese capitalism chronicles the fortunes of the Song family of North China under five successive authoritarian governments. Headed initially by Song Chuandian, who became rich by exporting hairnets to Europe and America in the early twentieth century, the family built a thriving business against long odds of rural poverty and political chaos. A savvy political operator, Song Chuandian prospered and kept local warlords at bay, but his career ended badly when he fell afoul of the new Nationalist government. His son Song Feiqing-inspired by the reformist currents of the May Fourth Movement-developed a utopian capitalist vision that industry would redeem China from foreign imperialism and cultural backwardness. He founded the Dongya Corporation in 1932 to manufacture wool knitting yarn and for two decades steered the company through a constantly changing political landscape-the Nationalists, then Japanese occupiers, then the Nationalists again, and finally Chinese Communists. Increasingly hostile governments, combined with inflation, foreign competition, and a restless labor force, thwarted his ambition to create an "Industrial Eden." Brett Sheehan shows how the Song family engaged in eclectic business practices that bore the imprint of both foreign and traditional Chinese influences. Businesspeople came to expect much from increasingly intrusive states, but the position of private capitalists remained tenuous no matter which government was in control. Although private business in China was closely linked to the state, it was neither a handmaiden to authoritarianism nor a natural ally of democracy.

This timely book traces the development of banking and paper money in republican Tianjin in order to explore the creation of social trust in financial institutions. Framing the study around Bian Baimei, a conscientious branch manager of the Bank of China, Brett Sheehan analyzes the actions of bankers, officials, and local elites as they tried to overcome political and financial crises and instill trust in the banking system.

After early failures in promoting trust, government authority as a regulator of the financial system gradually increased, peaking in 1935, when the state unified the money supply for the first time in several hundred years. Concurrently, when local elites proved unable to develop successful strategies to make people trust the system, their influence declined. The need for trust in increasingly complex financial arrangements redefined state-society relations, simultaneously enhancing state power and creating new constraints on the actions of both elites and governments.

"Trust in Troubled Times" is a valuable new perspective on the economic, social, and political history of modern China.

Covering the years of Japanese invasion during World War II from 1937 to 1945, this essay collection recounts Chinese experiences of living and working under conditions of war. Each of the regimes that ruled a divided China—occupation governments, Chinese Nationalists, and Chinese Communists—demanded and glorified the full commitment of the people and their resources in the prosecution of war. Through stories of both everyday people and mid-level technocrats charged with carrying out the war, this book brings to light the enormous gap between the leadership’s demands and the reality of everyday life. Eight long years of war exposed the unrealistic nature of elite demands for unreserved commitment. As the political leaders faced numerous obstacles in material mobilization and retreated to rhetoric of spiritual resistance, the Chinese populace resorted to localized strategies ranging from stoic adaptation to cynical profiteering, articulated variously with touches of humor and tragedy. These localized strategies are examined through stories of people at varying classes and levels of involvement in living, working, and trying to work through the war under the different regimes. In less than a decade, millions of Chinese were subjects of disciplinary regimes that dictated the celebration of holidays, the films available for viewing, the stories told in tea houses, and the restrictions governing the daily operations and participants of businesses—thus impacting the people of China for years to come. This volume looks at the narratives of those affected by the war and regimes to understand perspectives of both sides of the war and its total outcomes. Living and Working in Wartime China depicts the brutal micromanaging of ordinary lives, devoid of compelling national purposes, that both undercut the regimes’ relationships with their people and helped establish the managerial infrastructure of authoritarian regimes in subsequent postwar years.

Covering the years of Japanese invasion during World War II from 1937 to 1945, this essay collection recounts Chinese experiences of living and working under conditions of war. Each of the regimes that ruled a divided China—occupation governments, Chinese Nationalists, and Chinese Communists—demanded and glorified the full commitment of the people and their resources in the prosecution of war. Through stories of both everyday people and mid-level technocrats charged with carrying out the war, this book brings to light the enormous gap between the leadership’s demands and the reality of everyday life. Eight long years of war exposed the unrealistic nature of elite demands for unreserved commitment. As the political leaders faced numerous obstacles in material mobilization and retreated to rhetoric of spiritual resistance, the Chinese populace resorted to localized strategies ranging from stoic adaptation to cynical profiteering, articulated variously with touches of humor and tragedy. These localized strategies are examined through stories of people at varying classes and levels of involvement in living, working, and trying to work through the war under the different regimes. In less than a decade, millions of Chinese were subjects of disciplinary regimes that dictated the celebration of holidays, the films available for viewing, the stories told in tea houses, and the restrictions governing the daily operations and participants of businesses—thus impacting the people of China for years to come. This volume looks at the narratives of those affected by the war and regimes to understand perspectives of both sides of the war and its total outcomes. Living and Working in Wartime China depicts the brutal micromanaging of ordinary lives, devoid of compelling national purposes, that both undercut the regimes’ relationships with their people and helped establish the managerial infrastructure of authoritarian regimes in subsequent postwar years.