Great Depression’s Impact on China’s Monetary System

--Transition of China’s Monetary Economy and its Legacy, 1933-1948

Abstract: The article presents a retrospect of China’s monetary reform during 1933-1948 and identifies the external impact of the great depression as a key factor to the acceleration and final fiasco of the transition from silver economy to modern fiat money system. This failed attempt in modernization of monetary system under external shock fundamentally changed the nature and direction of China’s social and economic development and provided historic opportunity for the establishment of central planned economic system.

Key Words: Great Depression, Silver Standard, Monetary Reform

Great Depression’s Impact on China’s Monetary System.pdf