Economic Thoughts from the Opium War to the May 4th Movement

1800s Economic Thoughts from the Opium War to the May Fourth Movement

The late 19th century witnessed a tremendous surge in the economic thoughts and theories of China. The period beginning with the Opium War and ending with the May 4th Movement was marked by great changes that occurred to China’s socio-economic system of thought. This essay aims to outline the main themes and theories produced during this period, and notably, in what ways they serve as a response to the effects of the Opium War and Western colonial expansion.

Beginning with the government’s institutional responses to the Opium War, the defeat of the Qing Empire in China’s humiliation was marked by a need to re-evaluate administration and governance. One of the major changes was the transformation of the Confucian tradition which had been the accepted order of Chinese society. Instead of state-mandated Confucianism, the late Qing Dynasty practiced more laissez-faire policy, allowing for the emergence of commercial capitalism in order to respond to new economic opportunities. Ideas such as an increase in foreign trade and open markets came from these commercial capitalists who, at the same time, were also influenced by the government’s increased openness to western ideas.

Moreover, the economic thought during this period was deeply shaped by the writings of the Self-Strengtheners. These were mostly officials in the late Qing dynasty who sought economic self-strengthening to resist Western imperialism. These reformers strongly believed in the cultivation of a new dimension to statecraft, with technology and military power becoming closer intertwined. This period was also known for the creation of the Exploration and Educational Movement as well as the Reform Festival, both of which shared the common goal of promoting the diffusion and use of modern science and technologies in China. In terms of economic theory and thought, the ideas of the self-strengtheners were largely based on mercantilism and physiocracy, with a focus on increasing the production of goods within the country, in order to promote exports and money-flow.

At the same time, scholars such as the Social Darwinist Liang Qichao and prominent Kang Youwei, proposed alternative visions of modernization. More radical than the self-strengtheners, Liang and Kang argued for a more thorough-going transformation of China through the use of western political and economic systems. During the Reform Festival in 1898, for example, Kang called for the replacement of the old imperial form of rule by a Constitutional Monarchy. Similar ideas spread quickly, and influenced both the reformists and their younger generation of New Youth followers, who advocated for new ways of understanding Chinese nationhood.

In the aftermath of the War of 1900, the New Youth Movement continued to champion its vision of the reform of Chinese socio-economic thinking. Drawing on Sun Yat-Sen’s theories of ‘democracy’, ‘constitutionalism’ and ‘purposive frugality’, as well as Kang Youwei’s ‘rich-nation-strong-army’ approach, these intellectuals became increasingly vocal in their criticisms of both the Manchu court and its policies of old-style Confucianism. Their vision for a new nation-state was influenced by the ideas from the early-modern period as well as by developing patriotism. They called for a unified nation-state and for reforms to take place in educational organizations, economic structures, and the government itself.

In the end, the May Fourth Movement was a culmination of the ideas that had been developing throughout this period. This new wave of modern thought focused on the need for Chinese to realize their own autonomy and to be self-sufficient in their development. During the May Fourth Movement cultural nationals, like Chinese philosopher and writer Chen Duxiu, encouraged an embrace of western thought, science, and technology. Chen notably argued for the reform of Chinese culture, education and spirituality, in order to build a strong and independent country. The ideas of the May Fourth Movement marked the beginning of a new era in Chinese economic thought, with many seminal figures from this period significantly influencing later generations of Chinese economic thinking.

In conclusion, the economic thoughts and theories from the Opium War to the May 4th Movement can be seen as the foundations for the future of Chinese economic thought. They were largely focused on responding to the effects of Opium War and Western colonialism, but also spurred by the growing demand for an independent and self-sufficient economic system and nation-state. Despite the diversity of views and debates during this period, the intellectual and rhetorical foundations for the future of Chinese economic thinking were largely set during this period.

Over the course of two centuries, from the Opium War to the 5th of May Movement, economic thought in China changed drastically. From the start of the Opium War through the mid-nineteenth century, economic thought was heavily influenced by the ideas of foreign powers from the west, particularly Britain. It was during this period that China adopted a laissez-faire approach to economics as well as adapting other western economic principles.

The role of government in economics was largely ignored until the late nineteenth century, when the government adopted a more interventionist approach. During this period, the Chinese government began to play a more active role in the economy, developing more extensive plans to help boost the economy and address poverty. This included the Qing Dynasty reforms of the late nineteenth century, where the government implemented new tax policies, improved infrastructure, and opened up the market to more foreign trade.

The early twentieth century saw an even greater focus on economic reform. Socialists such as Sun Yat Sen, who founded the Kuomintang Party, advocated for a more radical approach to economics. He called for greater government intervention in the economy, as well as a more democratic form of government.

Economic thought in China was heavily shaped by the tumultuous events of the 1910s and 1920s. The 1911 Revolution and the May 4th Movement saw widespread calls for economic reform, with a renewed focus on developing Chinas agricultural and industrial sectors. The idea of socialism was also gaining popularity, which was further reinforced by the Russian Revolution of 1917.

The turbulent period of the twentieth century left profound marks on economic thought in China. By the time of the 5th of May Movement, economic thought shifted from the ideas of free markets and laissez-faire to one of greater government intervention and social democracy. This shift in thought would go on to strongly influence the policies of the Peoples Republic of China, which remains in place today.