Chapter 46 guide

Why did Chiang Kai-shek have to rely on the pockets of the Jiangsu and Zhejiang chaebols when he took power? Why did Chiang Kai-shek's central bank fail to fight against the Bank of China in the early days? How did the four families of Jiang, Song, Kong, and Chen get their first pot of gold? Why was the silver wave in the 1930s the first exchange rate war between China and the United States? Why is the legal currency reform the fuse of Japan's war of aggression against China? Chiang Kai-shek controls the army and influences the government, but he has not yet controlled finance.There is no lack of money if you lack anything, but in the face of challenges from all directions, what Chiang Kai-shek lacks most is money.He established a central bank, but for the time being, he could not compete with the Bank of China. He issued banknotes, but the acceptance was not high.He finally understood a truth: military centralization has just started, political centralization is learning to walk, and financial centralization is in charge of the rivers and lakes.

As a result, Chiang Kai-shek began to gradually control China's financial system, and then control the deployment of the country's economic lifeline. When the "abolition of the two reforms to the yuan", "four lines and two bureaus", and "reform of legal currency" were completed one after another, Chiang Kai-shek finally realized his dream of a world of gold and power. At this time, the silver wave is on the rise, and China's silver standard collapses. Where does the legal currency go?The undercurrent of the currency war among the three major powers was surging, and finally ignited the fuse of the War of Resistance Against Japan.