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1 results

  • 6 - Disentanglement and Liquidation

  • Ghassan Moazzin, The University of Hong Kong
  • Book:
    Foreign Banks and Global Finance in Modern China
    Published online:
    22 June 2022
    Print publication:
    07 July 2022, pp 229-264

  • Summary

    Chapter 6 deals with the activities of German bankers in China during the First World War and the eventual liquidation of the Deutsch-Asiatische Bank after 1917 due to China’s entry into the war. The chapter starts with a discussion of the development of the Deutsch-Asiatische Bank’s business and the internationalization of the Chinese banking sector in the years before 1914. It then turns to the negative impact the outbreak of war had on commerce and transnational connections in China. Thereafter, it discusses how the German bank tried to use loans to the Chinese government to keep China out of the war between 1914 and 1917. After these attempts failed and China entered the war on the side of the Allies, the Deutsch-Asiatische Bank was liquidated. This liquidation had severe consequences not only for the German bank but also for German business in China more generally.