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In this probing and original study, Parks M. Coble examines the devastating impact of Japan's invasion and occupation of the lower Yangzi on China's emerging modern business community. Arguing that the war gravely weakened Chinese capitalists, Coble demonstrates that in occupied areas the activities of businessmen were closer to collaboration than to heroic resistance. He shows how the war left an important imprint on the structure and culture of Chinese business enterprise by encouraging those traits that had allowed it to survive in uncertain and dangerous times.
Although historical...

This is a ground-breaking new interpretation of the collapse of Nationalist China, an event which fundamentally changed the course of twentieth-century history. Using newly available archival sources, Parks Coble reveals why, despite the financial backing of the US, Chiang Kai-shek's government lost the civil war against the communists in 1949.