Skip to main content Accessibility help
×
Hostname: page-component-5d59c44645-mhl4m Total loading time: 0 Render date: 2024-02-28T16:21:07.054Z Has data issue: false hasContentIssue false

Chapter 5 - 1947

Speeding toward Disaster

Published online by Cambridge University Press:  10 March 2023

Parks M. Coble
Affiliation:
University of Nebraska, Lincoln
Get access

Summary

The year begins with emergency control policies designed to curb accelerating inflation. The government halts sale of gold. Political attacks on T. V. Soong become strong, especially in the Legislative Yuan. Soong resigned as head of the Executive Yuan in March 1947. Most of the reform policies adopted earlier in the year are then abandoned.

Political attacks on “bureaucratic capitalism” follow, with foreign businessmen joining the attack, as well as criticism of the “holy family” enterprises, those connected to the Soong and Kung families. Attacks on both accuse them of corruption, charges they try to refute.

Getting Chiang Kai-shek’s attention is a problem. Little can be done without an endorsement by Chiang. But he has little knowledge or interest in financial issues. His focus is on military matters. Foreign exchange woes worsen.

Chapter 6: 1948: The Collapse of Fabi and the Gold Yuan Disaster

Keywords: fabi, gold yuan, collapse of fabi, hyperinflation, Guangdong, Jiang Jingguo, reign of terror, collapse of the gold yuan, Soongs in exile

Type
Chapter
Information
The Collapse of Nationalist China
How Chiang Kai-shek Lost China's Civil War
, pp. 131 - 164
Publisher: Cambridge University Press
Print publication year: 2023

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

  • 1947
  • Parks M. Coble, University of Nebraska, Lincoln
  • Book: The Collapse of Nationalist China
  • Online publication: 10 March 2023
  • Chapter DOI: https://doi.org/10.1017/9781009297639.006
Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

  • 1947
  • Parks M. Coble, University of Nebraska, Lincoln
  • Book: The Collapse of Nationalist China
  • Online publication: 10 March 2023
  • Chapter DOI: https://doi.org/10.1017/9781009297639.006
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • 1947
  • Parks M. Coble, University of Nebraska, Lincoln
  • Book: The Collapse of Nationalist China
  • Online publication: 10 March 2023
  • Chapter DOI: https://doi.org/10.1017/9781009297639.006
Available formats
×