On The External Debt Problem Of The Late Qing Dynasty Industrial

Industrial external debt refers to the late Qing Dynasty from the Opium War to the Revolution of 1911 This 71-rule of the Qing Dynasty were raised by the Government for the establishment of the late Qing Dynasty ;s external debt. First Industrial of late Qing Dynasty began in 1883, foreign debt to the China Merchants vessels foreign bank borrowed 743,443 for the two-silver. Since then collapsing to the Qing dynasty, the late Qing Dynasty were raised a total of 85 T Industrial external debt, which the borrower 36 T, A total of 330587160.24 of the two-silver; mining borrowing total of 28, a total of 35505927 for the two-silver; telecommunications borrowers 7 T, the total 8599292 for the two-silver; borrowing total of 7 aircraft, including four T ships China Merchants loan, the borrower river two and a Fujian Shipping borrowing.Industrial foreign debt is the late Qing Dynasty in China; semi-colonial and semi-feudal society formed under the background, because at that time the complicated international and domestic environment and the corrupt and incompetent government of the Qing Dynasty, ignorance, and did not become a modern China fair and reasonable use of Industrial external debt situation. The governments took the lead in the external debt were raised on the industry to accelerate the primitive accumulation of capital, and promote the development of the modern chemical industry, the high interest loans, discounts, pounds serious losses, often accompanied by extremely harsh conditions of the additional political and economic, to the detriment of the country and the sovereignty of the property rights of enterprises, and harmed the interests of the Chinese nation, making the late Qing Dynasty in the use of external debt Industries paid a painful price. Papers were divided into four main parts:Part I: the external debt of the late Qing Dynasty Industrial Historical Review. System introduced in the late Qing Dynasty was raised on the external debt of the Industrial main elements: the main railway divided into loan, the borrower mining, telecommunications borrowers and flight borrowing four parts. For the amount of the loan, interest, discount, collateral and made specific nature of the study, together with a summary of external debt. The Sino-Japanese and Sino-Japanese war before the war by all sectors of the changing nature of the borrower also involved.Part II: the external debt of the late Qing Dynasty was raised Industrial reasons. Since the 19th century, the 1960s and 1970s, the establishment of an industrial Westernization Group opened a modern industrial project in the prelude to China, Sino-Japanese war advocated the establishment of Industries, Commerce and Industry Award, is set off in industrial projects in the late Qing Dynasty climax. However, since the Opium War, especially the Sino-Japanese war, the huge military expenditure and war reparations to the original living within our means comprehensive collapse of the financial system, customs basic fields, the Qing government is unable to raise official of the late Qing Dynasty to support industrial development; night The Qing government for financing domestic debt were raised in the course of suppression Le caused to the public extremely disgusted with the results at the same time officials in the Office of the Governor to the modern enterprise, government officials and businessmen relations have deteriorated, the court in the nation in the process of financing capital early enough confidence to be further marginalized; businessmen did not hold shares of the operation and management of enterprises to seriously hurt the national capital investment in modern enterprises enthusiastic and positive attitude, and lure foreign capital and low-interest, government-competing to provide loans . This fund-raising channel in the country had been blocked and foreign January 1 also strongly opened embrace of the case, the Qing government to the financing of the external debt.Part III: the characteristics of the late Qing Dynasty Industrial external debt. Before the Sino-Japanese War of the Industrial borrowed short-term foreign debts are mostly small borrowers, the Qing government may still pay off on time, most are normal economic borrowing. Sino-Japanese, the character and nature of the external debt of all there has been a fundamental change: the amount, interest rate, discount, long repayment period, serious losses; taxes and more mainland enterprises to property as collateral and guarantees; often accompanied by the borrower all kinds of harsh conditions, political flavor. Industrial increasingly borrowing beyond the normal commercial lending areas, started into a specific political purpose, the capital mainly in the forms of political borrowers.Part IV: the impact of the late Qing Dynasty Industrial external debt. Industrial external debt was two sides to the late Qing Dynasty. From a political sense, therefore: on the one hand, the late Qing Dynasty Industrial general interest, discount, serious losses pounds, or more in salt PCT arrived for the property rights of enterprises, but also with all sorts of harsh conditions, the Qing government to incur debt Industry pay a high economic price, the Western powers through control of the external debt sovereignty and Mainland China tariff taxes, and grasped the late Qing Dynasty Industrial property rights, control of the Qing government; financial lifeline, which is the external debt of the late Qing Dynasty Industrial negative role. On the other hand, the external debt Industrial modern industry and the introduction of much-needed capital, technology and management experience, to some extent, solve the shortage of funds the development and accelerate the primitive accumulation of capital, and promote the feudal production relations and the collapse of the modern industry produce, so as to the new modes of production to the development of the space. This is the external debt of the late Qing Dynasty Industrial active role. From a financial sense, the external debt also has a dual nature: borrowing, it is revenue, it is financial expenditure, required debt service, it increases the state; financial burden, the country has also changed the structure of fiscal expenditure.Conclusion: the late Qing Dynasty Industrial external debt for the country; economic construction loans, compared to the late Qing Dynasty Quartermaster external debt, its positive role is obvious. Although the late Qing Dynasty Industrial Quartermaster external debt with foreign debt is the same Western powers stepped up to China capital and political control, an important tool for economic plunder, but objectively speaking, were raised by the late Qing Dynasty Industrial external debt, resolved the lack of funds in the development of the trouble, the establishment of a modern industrial, transport, telecommunications and communications industry. If there are no external debt alone was already destitute late Qing government, the basis of such a large building it is impossible to accomplish. However, the external debt is, after all, the late Qing Dynasty in the industrial and semi-colonial borrowed under a special historical background, because at that time the country; poverty and sovereignty of imperialist plunder and exploitation, the Qing government borrowing in foreign debt and the use of industrial process Industrial external debt , due to the lack of correct guiding ideology and the necessary financial knowledge, the imperialist countries and the temptation to force a step-by-step. Wrong secured debt and unsecured form allows the country tariffs, their property rights have been controlled by creditors. To the late Qing Dynasty for the purpose of strengthening the industry entered the final external debt to revitalize the strength and Industry organized, tight in the capital and was forced to borrow money; due to the loss of management and borrowing power due to the loss of national sovereignty to the growing influence with the powers-depth of the cycle of a vicious circle.