Although there is no strict definition, the team “financial crisis” usually refers to an event in which the value of financial assets drops rapidly. The causes and consequences of different types of financial crisis could vary. The most recent global financial crisis happened in the year of 2008. The bursting of housing bubble in the U.S. and other countries caused the value of mortgage-related securities, created by financial institutions, to plummet. With governments' efforts to bailout banks, the collapse of global financial system was avoided. However, this crisis has resulted in unfortunate political and social turmoil.
In 1910, a financial crisis happened in Shanghai, triggered by the bursting of rubber stock speculation bubble. Forty native banks (錢莊) in Shanghai, out of ninety-one, shut the doors by end of that year, attributed by global rubber material price fluctuation and the fraud in Shanghai capital market. As highly involved with stock speculation, several native banks incurred substantial losses, while the whole financial industry was encumbered with those native banks' insolvency, and then followed by the political and social turmoil, including the Xinhai Revolution (辛亥革命) in 1911.
“The 1910 Financial Crisis in Shanghai” has been a popular topic. By further verifying historical materials, especially the articles on English and Chinese newspapers, this dissertation proves that some common understanding about the crisis cannot be re-affirmed. It is also proved that the modern economic model for financial crisis could be applied on the 1910 crisis in Shanghai. / published_or_final_version / Chinese Historical Studies / Master / Master of Arts
| Identifer | oai:union.ndltd.org:HKU/oai:hub.hku.hk:10722/192999 |
| Date | January 2013 |
| Creators | Liang, Wei Jen, William, 梁維仁 |
| Publisher | The University of Hong Kong (Pokfulam, Hong Kong) |
| Source Sets | Hong Kong University Theses |
| Language | Chinese |
| Detected Language | English |
| Type | PG_Thesis |
| Rights | Creative Commons: Attribution 3.0 Hong Kong License, The author retains all proprietary rights, (such as patent rights) and the right to use in future works. |
| Relation | HKU Theses Online (HKUTO) |
Page generated in 0.0023 seconds