The Impact Of The Great Depression In The 1930s On China's Import And Export Trade

With the development of the world economy,the frequency and destructiveness of economic crises are getting higher and higher.With the integration of the world economy,China can only be more deeply integrated into the world economy in the future.Therefore,it will be a long-term topic to think about how to prevent and resolve the impact of the economic crisis.Based on the impact of the Great Depression on China's import and export trade,this paper explores the impact mechanism of the economic crisis,and analyzes the possible countermeasures China can take to cope with future economic changes.There three parts in this paper.The first part is the literature review.It mainly analyses the related research methods and the theory of contagion in the economic crisis,and summarizes the three generations of financial crisis theory.The second part is the empirical analysis of the impact of the Great Depression on China's import and export trade.In this part,based on the literature analysis,the paper makes a detailed empirical analysis of the import and export trade between 1929 and 1934 in the Historical Materials of the Old Customs of China.In the third part,on the basis of the second part,a comparatively in-depth quantitative and qualitative analysis is carried out.Among them,the quantitative research mainly uses the correlation analysis method and the binary linear regression analysis method in the measurement test.The analysis results show that the silver standard system,tariffs system and the Silver Acquisition Act are the three main factors affecting China's import and export trade during the Great Depression.About the silver standard system.Since there were few countries adopting the silver standard system at that time,it was generally classified as general goods in other countries.Therefore,when the Great Depression happened,the economic depression caused prices to fall and then silver prices to fall.That is to say,China has gained the advantage of depreciation of exchange rate in import and export trade.But this advantage came to an end as Britain,the United States,Japan and other countries abandoned the gold standard system to devalue their currencies.As for tariffs,for historical reasons,Chinese customs did not gain complete control during the Republic of China.This led to the Great Depression in the international economy,countries have joined the ranks of trade barriers,many of China's products are not well protected by tariffs.One of the most representative is grain.During the Great Depression,China was obviously dumped by other countries.Finally,with regard to the Sherman Silver Purchase Act,due to China's comparative monetary system,this Act also has a special impact on China.The introduction of the Act has led to the appreciation of China's exchange rate and a large outflow of gold and silver.It has had a terrible impact on China.Through the study of this short six-year history,this paper hopes to provide some meaningful reference for China's economic development in the future.